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

JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totaling 5,069,523 shares, an increase of 181.1% from the April 30th total of 1,803,400 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,612,528 shares, the short-interest ratio is currently 0.9 days.

JPMorgan Ultra-Short Income ETF Stock Performance

Shares of NYSEARCA:JPST traded up $0.04 during midday trading on Friday, hitting $50.62. The company’s stock had a trading volume of 22,492,368 shares, compared to its average volume of 6,831,230. The business’s 50 day simple moving average is $50.53 and its 200 day simple moving average is $50.62. The company has a market cap of $37.62 billion, a P/E ratio of 110.04 and a beta of 0.01. JPMorgan Ultra-Short Income ETF has a 12-month low of $50.42 and a 12-month high of $50.79.

Hedge Funds Weigh In On JPMorgan Ultra-Short Income ETF

Several hedge funds and other institutional investors have recently modified their holdings of JPST. Millennium Management LLC raised its stake in JPMorgan Ultra-Short Income ETF by 23.0% during the first quarter. Millennium Management LLC now owns 248,373 shares of the company’s stock worth $12,575,000 after purchasing an additional 46,400 shares during the period. Goldman Sachs Group Inc. purchased a new position in JPMorgan Ultra-Short Income ETF during the first quarter worth about $3,603,000. EverSource Wealth Advisors LLC raised its stake in JPMorgan Ultra-Short Income ETF by 99.6% during 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 during the period. First Trust Advisors LP purchased a new position in JPMorgan Ultra-Short Income ETF during the second quarter worth about $203,000. Finally, Brown Advisory Inc. raised its stake 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 period. 2.17% of the stock is owned by hedge funds and other institutional investors.

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.