JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) Sees Significant Growth in Short Interest

JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totaling 5,117,069 shares, a growth of 297.2% from the December 15th total of 1,288,207 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 5,883,883 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 5,883,883 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.7% of the company’s stock are short sold.

JPMorgan Ultra-Short Income ETF Price Performance

Shares of JPST stock opened at $50.66 on Thursday. The stock’s fifty day moving average price is $50.66 and its 200 day moving average price is $50.65. JPMorgan Ultra-Short Income ETF has a 1-year low of $50.30 and a 1-year high of $50.78. The company has a market cap of $35.94 billion, a price-to-earnings ratio of 110.13 and a beta of 0.01.

Hedge Funds Weigh In On JPMorgan Ultra-Short Income ETF

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in JPMorgan Ultra-Short Income ETF by 8.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 96,742,823 shares of the company’s stock worth $4,907,764,000 after purchasing an additional 7,786,258 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of JPMorgan Ultra-Short Income ETF by 15.3% in the second quarter. Bank of America Corp DE now owns 16,306,977 shares of the company’s stock worth $826,438,000 after buying an additional 2,162,615 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of JPMorgan Ultra-Short Income ETF by 0.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 11,093,296 shares of the company’s stock worth $562,208,000 after buying an additional 94,082 shares during the period. HB Wealth Management LLC grew its holdings in shares of JPMorgan Ultra-Short Income ETF by 4.7% during the third quarter. HB Wealth Management LLC now owns 9,302,563 shares of the company’s stock valued at $469,487,000 after buying an additional 413,847 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of JPMorgan Ultra-Short Income ETF by 3.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,086,795 shares of the company’s stock valued at $358,734,000 after buying an additional 232,920 shares during the last quarter. Institutional investors and hedge funds own 2.17% of the company’s stock.

About JPMorgan Ultra-Short Income ETF

The JPMorgan Ultra-Short Income ETF (JPST) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that aims to maximize income and preserve capital using USD-denominated debt securities with an effective duration of one year or less. JPST was launched on May 17, 2017 and is managed by JPMorgan Chase.