Hershey Financial Advisers LLC has made a significant investment of approximately $3.95 million in the JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) during the second quarter of 2023. According to a recent disclosure filed with the Securities and Exchange Commission, the firm acquired 77,867 shares of the ETF, which now represents about 3.5% of its overall investment portfolio, making it the sixth-largest holding in their assets.
This investment comes amidst a broader trend, as several other hedge funds have also adjusted their positions in JPST. For instance, the National Bank of Canada FI increased its stake by 7.1% in the first quarter, now holding 13,239 shares valued at around $670,000. Similarly, the Nations Financial Group Inc. IA ADV grew its investment by 6.6%, bringing its total to 21,535 shares worth approximately $1.09 million.
Additional Institutional Investments
Other notable movements include Alliance Wealth Advisors LLC UT, which increased its holdings by 9.1%, now owning 300,569 shares valued at $15.22 million. Furthermore, Elevatus Wealth Management raised its stake dramatically by 598.6%, with a current ownership of 333,927 shares worth about $16.91 million. The Raymond James Financial Inc. also expanded its holdings by 14.4%, resulting in a total of 3,948,223 shares valued at nearly $199.90 million.
Currently, institutional investors hold 2.17% of the total stock shares, reflecting a growing interest in this particular ETF.
Market Performance of JPMorgan Ultra-Short Income ETF
As of the latest trading session, shares of the JPMorgan Ultra-Short Income ETF opened at $50.64. The ETF has shown stability with a fifty-day simple moving average of $50.67 and a two-hundred-day simple moving average of $50.63. Over the past year, the stock has fluctuated, reaching a low of $50.30 and a high of $50.78. The fund has a market capitalization of $34.20 billion, a price-to-earnings ratio of 110.09, and a notably low beta of 0.01, indicating minimal volatility compared to the broader market.
The JPMorgan Ultra-Short Income ETF, launched on May 17, 2017, primarily invests in investment-grade fixed-income securities. The actively managed fund aims to maximize income while preserving capital through investments in USD-denominated debt securities with an effective duration of one year or less.
For further information on institutional holdings and changes in investment strategies, resources such as HoldingsChannel.com provide insights into the latest 13F filings and insider trades related to the JPMorgan Ultra-Short Income ETF.
