JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) Shares Break Above 200-Day Moving Average – Here’s What Happened

JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $78.33 and traded as high as $80.29. JPMorgan U.S. Momentum Factor ETF shares last traded at $79.84, with a volume of 123,986 shares.

JPMorgan U.S. Momentum Factor ETF Stock Performance

The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 24.41 and a beta of 1.06. The company has a 50 day moving average of $81.90 and a 200 day moving average of $78.33.

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

Several hedge funds and other institutional investors have recently made changes to their positions in JMOM. Shore Point Advisors LLC increased its stake in shares of JPMorgan U.S. Momentum Factor ETF by 0.6% during the third quarter. Shore Point Advisors LLC now owns 705,841 shares of the company’s stock worth $58,832,000 after buying an additional 4,305 shares during the period. Cabot Wealth Management Inc. purchased a new position in JPMorgan U.S. Momentum Factor ETF in the third quarter worth approximately $15,140,000. Wealth Enhancement Trust Services Inc. lifted its stake in JPMorgan U.S. Momentum Factor ETF by 12.6% in the third quarter. Wealth Enhancement Trust Services Inc. now owns 81,841 shares of the company’s stock worth $6,821,000 after acquiring an additional 9,139 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in JPMorgan U.S. Momentum Factor ETF by 58.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 69,968 shares of the company’s stock worth $5,832,000 after acquiring an additional 25,762 shares in the last quarter. Finally, Fifth Third Securities Inc. acquired a new position in JPMorgan U.S. Momentum Factor ETF during the 3rd quarter worth approximately $4,755,000.

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.