Short Interest in JPMorgan Ultra-Short Municipal ETF (NYSEARCA:JMST) Drops By 59.6%

JPMorgan Ultra-Short Municipal ETF (NYSEARCA:JMST) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 90,343 shares, a drop of 59.6% from the August 15th total of 223,698 shares. Based on an average daily trading volume, of 1,017,961 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company’s stock are short sold.

JPMorgan Ultra-Short Municipal ETF Stock Performance

NYSEARCA JMST traded up $0.01 on Tuesday, hitting $50.78. 1,333,981 shares of the stock were exchanged, compared to its average volume of 1,231,973. The business’s fifty day moving average is $50.89 and its 200 day moving average is $50.92. JPMorgan Ultra-Short Municipal ETF has a 52 week low of $50.75 and a 52 week high of $51.13.

Institutional Investors Weigh In On JPMorgan Ultra-Short Municipal ETF

Several hedge funds have recently bought and sold shares of JMST. Bank of America Corp DE increased its stake in JPMorgan Ultra-Short Municipal ETF by 5.8% during the 1st quarter. Bank of America Corp DE now owns 4,184,621 shares of the company’s stock worth $213,332,000 after acquiring an additional 227,838 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of JPMorgan Ultra-Short Municipal ETF by 5.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,973,128 shares of the company’s stock valued at $202,391,000 after acquiring an additional 192,499 shares during the period. HB Wealth Management LLC grew its holdings in shares of JPMorgan Ultra-Short Municipal ETF by 28.1% during the 2nd quarter. HB Wealth Management LLC now owns 3,268,293 shares of the company’s stock worth $166,683,000 after purchasing an additional 716,311 shares in the last quarter. LPL Financial LLC grew its holdings in shares of JPMorgan Ultra-Short Municipal ETF by 1.8% during the 4th quarter. LPL Financial LLC now owns 3,024,296 shares of the company’s stock worth $154,058,000 after purchasing an additional 54,500 shares in the last quarter. Finally, Resonant Capital Advisors LLC increased its position in shares of JPMorgan Ultra-Short Municipal ETF by 20.1% in the first quarter. Resonant Capital Advisors LLC now owns 1,719,248 shares of the company’s stock worth $87,647,000 after purchasing an additional 287,225 shares during the period.

About JPMorgan Ultra-Short Municipal ETF

The JPMorgan Ultra-Short Municipal Income ETF (JMST) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed portfolio of US municipal bonds with a weighted average maturity of two years or less. JMST was launched on Oct 16, 2018 and is managed by JPMorgan Chase.