Short Interest in JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) Declines By 45.2%

JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 2,775,575 shares, a drop of 45.2% from the May 14th total of 5,069,523 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 7,603,377 shares, the days-to-cover ratio is currently 0.4 days.

JPMorgan Ultra-Short Income ETF Stock Performance

JPMorgan Ultra-Short Income ETF stock remained flat at $50.52 during trading hours on Tuesday. The company’s stock had a trading volume of 6,188,885 shares, compared to its average volume of 6,828,030. The company has a market capitalization of $37.55 billion, a PE ratio of 109.83 and a beta of 0.01. JPMorgan Ultra-Short Income ETF has a 1 year low of $50.41 and a 1 year high of $50.79. The business has a 50 day moving average of $50.51 and a 200 day moving average of $50.60.

Hedge Funds Weigh In On JPMorgan Ultra-Short Income ETF

Several institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in JPMorgan Ultra-Short Income ETF by 10.1% in the fourth quarter. JPMorgan Chase & Co. now owns 106,472,614 shares of the company’s stock valued at $5,386,450,000 after acquiring an additional 9,729,791 shares during the period. Morgan Stanley grew its stake in JPMorgan Ultra-Short Income ETF by 2.4% in the fourth quarter. Morgan Stanley now owns 61,468,768 shares of the company’s stock valued at $3,109,705,000 after acquiring an additional 1,449,509 shares during the period. LPL Financial LLC grew its stake in JPMorgan Ultra-Short Income ETF by 8.0% in the fourth quarter. LPL Financial LLC now owns 19,620,900 shares of the company’s stock valued at $992,621,000 after acquiring an additional 1,459,312 shares during the period. Bank of America Corp DE grew its stake in JPMorgan Ultra-Short Income ETF by 15.3% in the second quarter. Bank of America Corp DE now owns 16,306,977 shares of the company’s stock valued at $826,438,000 after acquiring an additional 2,162,615 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in JPMorgan Ultra-Short Income ETF by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,445,396 shares of the company’s stock valued at $579,023,000 after acquiring an additional 194,855 shares during the period. 2.17% of the stock is owned by institutional investors and hedge funds.

About JPMorgan Ultra-Short Income ETF

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.