JPMorgan Income ETF (NYSEARCA:JPIE) Reaches New 1-Year High – Here’s What Happened

Shares of JPMorgan Income ETF (NYSEARCA:JPIE) hit a new 52-week high during trading on Thursday . The stock traded as high as $46.57 and last traded at $46.5650, with a volume of 71722 shares. The stock had previously closed at $46.54.

JPMorgan Income ETF Stock Up 0.1%

The stock has a fifty day moving average of $46.41 and a 200-day moving average of $46.38.

JPMorgan Income ETF Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Monday, February 2nd were paid a $0.2036 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%.

Institutional Trading of JPMorgan Income ETF

Several hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC lifted its holdings in JPMorgan Income ETF by 71.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,609,570 shares of the company’s stock worth $213,930,000 after buying an additional 1,914,053 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of JPMorgan Income ETF by 35.2% during the second quarter. JPMorgan Chase & Co. now owns 6,850,626 shares of the company’s stock valued at $317,321,000 after acquiring an additional 1,783,134 shares during the period. Morgan Stanley increased its position in JPMorgan Income ETF by 25.8% in the fourth quarter. Morgan Stanley now owns 6,790,024 shares of the company’s stock worth $314,310,000 after purchasing an additional 1,393,857 shares during the period. Wells Fargo & Company MN increased its position in JPMorgan Income ETF by 45.9% in the fourth quarter. Wells Fargo & Company MN now owns 3,759,117 shares of the company’s stock worth $174,009,000 after purchasing an additional 1,181,828 shares during the period. Finally, Hilton Capital Management LLC bought a new stake in JPMorgan Income ETF during the 2nd quarter worth about $44,037,000.

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.