JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) Sets New 1-Year Low – Should You Sell?

JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) shares reached a new 52-week low during trading on Monday . The stock traded as low as $50.39 and last traded at $50.40, with a volume of 6112040 shares trading hands. The stock had previously closed at $50.54.

JPMorgan Ultra-Short Income ETF Trading Down 0.3%

The stock’s 50 day moving average is $50.49 and its two-hundred day moving average is $50.56. The stock has a market capitalization of $40.30 billion, a price-to-earnings ratio of 109.57 and a beta of 0.01.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC boosted its position in JPMorgan Ultra-Short Income ETF by 23.0% during the 1st quarter. Millennium Management LLC now owns 248,373 shares of the company’s stock worth $12,575,000 after acquiring an additional 46,400 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of JPMorgan Ultra-Short Income ETF in the first quarter worth $3,603,000. EverSource Wealth Advisors LLC lifted its position in shares of JPMorgan Ultra-Short Income ETF by 99.6% in the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the company’s stock worth $50,000 after purchasing an additional 496 shares in the last quarter. First Trust Advisors LP acquired a new position in JPMorgan Ultra-Short Income ETF during the second quarter worth $203,000. Finally, Brown Advisory Inc. boosted its holdings in JPMorgan Ultra-Short Income ETF by 7.6% during the second quarter. Brown Advisory Inc. now owns 6,113 shares of the company’s stock worth $310,000 after purchasing an additional 431 shares during the last quarter. 2.17% of the stock is owned by institutional investors and hedge funds.

JPMorgan Ultra-Short Income ETF Company Profile

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.