JPMorgan Income ETF (NYSEARCA:JPIE) Hits New 1-Year Low – What’s Next?

JPMorgan Income ETF (NYSEARCA:JPIE)’s share price hit a new 52-week low on Monday. The stock traded as low as $44.94 and last traded at $44.9050, with a volume of 696296 shares changing hands. The stock had previously closed at $45.08.

JPMorgan Income ETF Stock Down 0.3%

The stock has a 50 day simple moving average of $45.67 and a 200 day simple moving average of $45.88.

Institutional Investors Weigh In On JPMorgan Income ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cornerstone Financial Management LLC bought a new stake in JPMorgan Income ETF during the fourth quarter worth about $1,524,000. Founders Financial Securities LLC boosted its position in JPMorgan Income ETF by 9.8% during the 1st quarter. Founders Financial Securities LLC now owns 189,908 shares of the company’s stock worth $8,753,000 after acquiring an additional 16,893 shares during the last quarter. Montecito Bank & Trust raised its position in JPMorgan Income ETF by 29.2% during the first quarter. Montecito Bank & Trust now owns 91,043 shares of the company’s stock worth $4,194,000 after acquiring an additional 20,570 shares in the last quarter. William Mack & Associates Inc. boosted its position in JPMorgan Income ETF by 82.9% during the second quarter. William Mack & Associates Inc. now owns 50,476 shares of the company’s stock worth $2,324,000 after purchasing an additional 22,882 shares during the period. Finally, Syntegra Private Wealth Group LLC raised its stake in JPMorgan Income ETF by 3.5% in the 4th quarter. Syntegra Private Wealth Group LLC now owns 1,081,981 shares of the company’s stock worth $50,085,000 after purchasing an additional 36,641 shares in the last quarter.

JPMorgan Income ETF Company Profile

The JPMorgan Income ETF (JPIE) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively-managed fund that allocates exposure among various fixed income markets and sectors. The fund seeks to provide yield with lower volatility and aims to generate monthly distributions. JPIE was launched on Oct 28, 2021 and is managed by JPMorgan Chase.