JPMorgan Income ETF (NYSEARCA:JPIE) Stock Price Crosses Below 50-Day Moving Average – Time to Sell?

JPMorgan Income ETF (NYSEARCA:JPIE) shares crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $45.11 and traded as low as $44.92. JPMorgan Income ETF shares last traded at $45.04, with a volume of 3,671,207 shares traded.

JPMorgan Income ETF Stock Performance

The company has a 50-day moving average of $45.11 and a 200-day moving average of $45.82.

Hedge Funds Weigh In On JPMorgan Income ETF

Several hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC increased its position in JPMorgan Income ETF by 11.7% during the second quarter. Sequoia Financial Advisors LLC now owns 7,131,321 shares of the company’s stock worth $328,397,000 after buying an additional 747,797 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of JPMorgan Income ETF by 16.5% during the first quarter. Bank of America Corp DE now owns 3,616,685 shares of the company’s stock valued at $166,621,000 after acquiring an additional 513,347 shares during the last quarter. Waverly Advisors LLC boosted its stake in shares of JPMorgan Income ETF by 7.1% during the second quarter. Waverly Advisors LLC now owns 2,667,808 shares of the company’s stock valued at $122,853,000 after acquiring an additional 176,274 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of JPMorgan Income ETF by 1.2% during the second quarter. Envestnet Asset Management Inc. now owns 2,634,836 shares of the company’s stock valued at $121,334,000 after acquiring an additional 31,981 shares during the last quarter. Finally, Royal Bank of Canada increased its position in JPMorgan Income ETF by 5.7% during the 1st quarter. Royal Bank of Canada now owns 2,287,927 shares of the company’s stock worth $105,405,000 after purchasing an additional 123,329 shares in the last quarter.

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.