JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) Sees Large Volume Increase – Still a Buy?

JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) shares saw an uptick in trading volume on Tuesday . Approximately 861,205 shares traded hands during trading, an increase of 694% from the previous session’s volume of 108,526 shares.The stock last traded at $82.22 and had previously closed at $80.88.

JPMorgan U.S. Momentum Factor ETF Stock Performance

The firm has a market capitalization of $2.46 billion, a P/E ratio of 27.64 and a beta of 1.06. The firm has a 50 day moving average price of $82.18 and a two-hundred day moving average price of $74.99.

Hedge Funds Weigh In On JPMorgan U.S. Momentum Factor ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new stake in JPMorgan U.S. Momentum Factor ETF during the 1st quarter worth about $1,790,000. Raymond James Financial Inc. raised its holdings in shares of JPMorgan U.S. Momentum Factor ETF by 12.2% during the second quarter. Raymond James Financial Inc. now owns 13,787 shares of the company’s stock valued at $886,000 after acquiring an additional 1,496 shares during the period. Bank of America Corp DE raised its holdings in shares of JPMorgan U.S. Momentum Factor ETF by 23.7% during the second quarter. Bank of America Corp DE now owns 28,434 shares of the company’s stock valued at $1,828,000 after acquiring an additional 5,449 shares during the period. Orion Porfolio Solutions LLC lifted its position in shares of JPMorgan U.S. Momentum Factor ETF by 39.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 88,760 shares of the company’s stock valued at $5,555,000 after acquiring an additional 25,219 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of JPMorgan U.S. Momentum Factor ETF by 334.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 687 shares of the company’s stock valued at $44,000 after acquiring an additional 529 shares in the last quarter.

JPMorgan U.S. Momentum Factor ETF Company Profile

The JPMorgan U.S. Momentum Factor ETF (JMOM) is an exchange-traded fund that is based on the JP Morgan US Momentum Factor index. The fund tracks an index of US large-cap companies with strong momentum, weighted by optimized market-cap. JMOM was launched on Nov 8, 2017 and is managed by JPMorgan Chase.