JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) Hits New 1-Year High – Time to Buy?

JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) shares hit a new 52-week high on Monday . The stock traded as high as $71.24 and last traded at $71.25, with a volume of 18973 shares changing hands. The stock had previously closed at $70.53.

JPMorgan U.S. Momentum Factor ETF Price Performance

The firm’s 50 day moving average is $69.43 and its 200 day moving average is $67.73. The company has a market cap of $1.95 billion, a PE ratio of 27.64 and a beta of 1.04.

Institutional Investors Weigh In On JPMorgan U.S. Momentum Factor ETF

A number of institutional investors and hedge funds have recently made changes to their positions in JMOM. Wealth Enhancement Advisory Services LLC increased its holdings in shares of JPMorgan U.S. Momentum Factor ETF by 2.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,896,007 shares of the company’s stock worth $804,527,000 after buying an additional 301,812 shares during the last quarter. Elevation Capital Advisory LLC bought a new stake in shares of JPMorgan U.S. Momentum Factor ETF during the 3rd quarter worth $2,512,000. 17 Capital Partners LLC grew its position in JPMorgan U.S. Momentum Factor ETF by 18.4% in the second quarter. 17 Capital Partners LLC now owns 11,345 shares of the company’s stock worth $729,000 after acquiring an additional 1,762 shares in the last quarter. Corient Private Wealth LLC increased its stake in JPMorgan U.S. Momentum Factor ETF by 2,519.9% in the second quarter. Corient Private Wealth LLC now owns 116,586 shares of the company’s stock valued at $7,495,000 after acquiring an additional 112,136 shares during the last quarter. Finally, Miracle Mile Advisors LLC bought a new position in JPMorgan U.S. Momentum Factor ETF in the third quarter valued at $1,636,000.

About JPMorgan U.S. Momentum Factor ETF

The JPMorgan U.S. Momentum Factor ETF (JMOM) is an exchange-traded fund that is based on the JP Morgan US Momentum Factor index. The fund tracks an index of US large-cap companies with strong momentum, weighted by optimized market-cap. JMOM was launched on Nov 8, 2017 and is managed by JPMorgan Chase.