Contango Wealth Management LLC Takes $1.36 Million Position in JPMorgan U.S. Momentum Factor ETF $JMOM

Contango Wealth Management LLC bought a new stake in JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 19,967 shares of the company’s stock, valued at approximately $1,356,000. JPMorgan U.S. Momentum Factor ETF comprises 1.6% of Contango Wealth Management LLC’s investment portfolio, making the stock its 17th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NewEdge Advisors LLC increased its position in JPMorgan U.S. Momentum Factor ETF by 2.2% during the first quarter. NewEdge Advisors LLC now owns 6,523 shares of the company’s stock worth $443,000 after buying an additional 139 shares during the last quarter. Bank of America Corp DE lifted its position in shares of JPMorgan U.S. Momentum Factor ETF by 7.3% in the first quarter. Bank of America Corp DE now owns 56,584 shares of the company’s stock valued at $3,843,000 after buying an additional 3,873 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of JPMorgan U.S. Momentum Factor ETF by 4.7% in the first quarter. Cetera Investment Advisers now owns 41,980 shares of the company’s stock valued at $2,851,000 after buying an additional 1,903 shares during the last quarter. Florida Financial Advisors LLC bought a new position in shares of JPMorgan U.S. Momentum Factor ETF during the 1st quarter worth approximately $209,000. Finally, Hershey Financial Advisers LLC bought a new position in shares of JPMorgan U.S. Momentum Factor ETF during the 1st quarter worth approximately $2,170,000.

JPMorgan U.S. Momentum Factor ETF Stock Performance

JMOM stock opened at $80.84 on Monday. The firm has a market capitalization of $2.51 billion, a PE ratio of 27.64 and a beta of 1.06. JPMorgan U.S. Momentum Factor ETF has a 1-year low of $63.29 and a 1-year high of $85.64. The business’s 50 day simple moving average is $82.48 and its 200 day simple moving average is $75.73.

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.