JPMorgan U.S. Tech Leaders ETF (NASDAQ:JTEK) Sees Significant Drop in Short Interest

JPMorgan U.S. Tech Leaders ETF (NASDAQ:JTEK) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totaling 125,842 shares, a decrease of 49.4% from the July 15th total of 248,555 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 322,331 shares, the short-interest ratio is presently 0.4 days.

JPMorgan U.S. Tech Leaders ETF Stock Down 1.0%

JPMorgan U.S. Tech Leaders ETF stock traded down $1.06 during trading hours on Friday, hitting $103.67. 161,099 shares of the company traded hands, compared to its average volume of 303,531. JPMorgan U.S. Tech Leaders ETF has a 1-year low of $75.25 and a 1-year high of $111.82. The firm has a market cap of $4.51 billion, a P/E ratio of 47.07 and a beta of 1.79. The firm’s 50-day simple moving average is $102.20 and its two-hundred day simple moving average is $94.39.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in JPMorgan U.S. Tech Leaders ETF by 1,810.5% in the fourth quarter. Bank of America Corp DE now owns 1,089 shares of the company’s stock worth $82,000 after purchasing an additional 1,032 shares during the period. Royal Bank of Canada increased its position in shares of JPMorgan U.S. Tech Leaders ETF by 20.4% during the 1st quarter. Royal Bank of Canada now owns 59,843 shares of the company’s stock valued at $4,020,000 after purchasing an additional 10,159 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of JPMorgan U.S. Tech Leaders ETF by 196.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 23,069 shares of the company’s stock worth $1,550,000 after buying an additional 15,296 shares in the last quarter. Jane Street Group LLC raised its stake in shares of JPMorgan U.S. Tech Leaders ETF by 327.2% in the 1st quarter. Jane Street Group LLC now owns 41,331 shares of the company’s stock worth $2,777,000 after buying an additional 31,656 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in shares of JPMorgan U.S. Tech Leaders ETF by 23.8% in the 2nd quarter. Raymond James Financial Inc. now owns 117,874 shares of the company’s stock worth $9,956,000 after buying an additional 22,678 shares in the last quarter.

JPMorgan U.S. Tech Leaders ETF Company Profile

The JPMorgan U.S. Tech Leaders ETF JPMorgan U.S. Tech Leaders ETF (JTEK) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that identifies US equities that are perceived as leaders in technology and technology-enabled industries such as engineering & construction, entertainment, biotechnology, pharmaceuticals, REITs, and energy-alternate sources. JTEK was launched on Oct 4, 2023 and is issued by JPMorgan Chase.