JPMorgan Ultra-Short Municipal ETF (BATS:JMST) Hits New 1-Year Low – Here’s Why

JPMorgan Ultra-Short Municipal ETF (BATS:JMST) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $50.82 and last traded at $50.83, with a volume of 54428 shares changing hands. The stock had previously closed at $50.91.

JPMorgan Ultra-Short Municipal ETF Price Performance

The stock has a fifty day moving average price of $50.92 and a 200-day moving average price of $50.97.

Institutional Investors Weigh In On JPMorgan Ultra-Short Municipal ETF

A number of institutional investors have recently added to or reduced their stakes in JMST. Leverty Financial Group LLC raised its holdings in JPMorgan Ultra-Short Municipal ETF by 30.9% in the second quarter. Leverty Financial Group LLC now owns 98,985 shares of the company’s stock worth $5,048,000 after purchasing an additional 23,345 shares in the last quarter. Paladin Wealth LLC boosted its holdings in shares of JPMorgan Ultra-Short Municipal ETF by 26.2% in the 2nd quarter. Paladin Wealth LLC now owns 19,729 shares of the company’s stock valued at $1,006,000 after buying an additional 4,102 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of JPMorgan Ultra-Short Municipal ETF by 114.0% in the 2nd quarter. Revolve Wealth Partners LLC now owns 105,003 shares of the company’s stock valued at $5,355,000 after buying an additional 55,938 shares in the last quarter. Sax Wealth Advisors LLC bought a new stake in shares of JPMorgan Ultra-Short Municipal ETF in the 2nd quarter valued at about $209,000. Finally, Valeo Financial Advisors LLC grew its position in shares of JPMorgan Ultra-Short Municipal ETF by 1.8% in the 2nd quarter. Valeo Financial Advisors LLC now owns 166,682 shares of the company’s stock worth $8,501,000 after buying an additional 2,970 shares during the last quarter.

About JPMorgan Ultra-Short Municipal ETF

The JPMorgan Ultra-Short Municipal Income ETF (JMST) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed portfolio of US municipal bonds with a weighted average maturity of two years or less. JMST was launched on Oct 16, 2018 and is managed by JPMorgan Chase.