JPMorgan Municipal ETF (BATS:JMUB) Hits New 1-Year High – Should You Buy?

JPMorgan Municipal ETF (BATS:JMUB) reached a new 52-week high during trading on Monday . The stock traded as high as $51.14 and last traded at $51.1650, with a volume of 667917 shares traded. The stock had previously closed at $51.11.

JPMorgan Municipal ETF Trading Up 0.0%

The company’s 50 day simple moving average is $50.75 and its 200-day simple moving average is $50.46. The firm has a market cap of $3.14 billion, a P/E ratio of 9.96 and a beta of 0.21.

JPMorgan Municipal ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, February 4th. Investors of record on Monday, February 2nd were issued a $0.1414 dividend. The ex-dividend date was Monday, February 2nd. This represents a c) annualized dividend and a yield of 3.3%.

Hedge Funds Weigh In On JPMorgan Municipal ETF

Several hedge funds and other institutional investors have recently modified their holdings of JMUB. Cambient Family Office LLC bought a new stake in shares of JPMorgan Municipal ETF in the fourth quarter worth $1,001,000. Axxcess Wealth Management LLC grew its stake in shares of JPMorgan Municipal ETF by 9.4% during the 4th quarter. Axxcess Wealth Management LLC now owns 87,707 shares of the company’s stock valued at $4,429,000 after purchasing an additional 7,530 shares during the period. Corient Private Wealth LLC grew its stake in shares of JPMorgan Municipal ETF by 0.8% during the 4th quarter. Corient Private Wealth LLC now owns 739,939 shares of the company’s stock valued at $37,367,000 after purchasing an additional 6,034 shares during the period. Wealthspire Retirement LLC increased its position in shares of JPMorgan Municipal ETF by 19.8% during the 4th quarter. Wealthspire Retirement LLC now owns 41,794 shares of the company’s stock valued at $2,111,000 after purchasing an additional 6,893 shares during the last quarter. Finally, Beacon Pointe Advisors LLC lifted its stake in shares of JPMorgan Municipal ETF by 14.0% in the 4th quarter. Beacon Pointe Advisors LLC now owns 10,480 shares of the company’s stock worth $529,000 after purchasing an additional 1,284 shares during the period.

About JPMorgan Municipal ETF

The JPMorgan Municipal ETF (JMUB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund holds an actively managed portfolio of various US municipal securities. JMUB was launched on Oct 29, 2018 and is managed by JPMorgan Chase.