JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) Hits New 12-Month High – What’s Next?

JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $69.59 and last traded at $69.42, with a volume of 48044 shares trading hands. The stock had previously closed at $68.88.

JPMorgan U.S. Momentum Factor ETF Trading Up 0.8%

The stock has a market cap of $1.74 billion, a PE ratio of 27.64 and a beta of 1.04. The business has a 50-day moving average price of $67.93 and a 200 day moving average price of $65.69.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ROSS JOHNSON & Associates LLC bought a new stake in shares of JPMorgan U.S. Momentum Factor ETF in the first quarter valued at approximately $38,000. Hazlett Burt & Watson Inc. bought a new position in JPMorgan U.S. Momentum Factor ETF in the 3rd quarter worth approximately $44,000. Smartleaf Asset Management LLC grew its stake in 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 buying an additional 529 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in JPMorgan U.S. Momentum Factor ETF in the 3rd quarter valued at approximately $51,000. Finally, Fifth Third Bancorp bought a new stake in JPMorgan U.S. Momentum Factor ETF during the 3rd quarter valued at $55,000.

About JPMorgan U.S. Momentum Factor ETF

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.