Redmont Wealth Advisors LLC Makes New Investment in JPMorgan Ultra-Short Income ETF $JPST

Redmont Wealth Advisors LLC bought a new stake in JPMorgan Ultra-Short Income ETF (NYSEARCA:JPST) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 36,489 shares of the company’s stock, valued at approximately $1,851,000. JPMorgan Ultra-Short Income ETF comprises approximately 2.6% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 8th biggest position.

Other hedge funds have also recently made changes to their positions in the company. Archer Investment Corp raised its holdings in JPMorgan Ultra-Short Income ETF by 11.2% in the 3rd quarter. Archer Investment Corp now owns 1,991 shares of the company’s stock valued at $101,000 after buying an additional 200 shares during the last quarter. Kathleen S. Wright Associates Inc. lifted its holdings in shares of JPMorgan Ultra-Short Income ETF by 2.3% during the second quarter. Kathleen S. Wright Associates Inc. now owns 9,811 shares of the company’s stock worth $497,000 after purchasing an additional 220 shares during the period. Sax Wealth Advisors LLC grew its stake in shares of JPMorgan Ultra-Short Income ETF by 2.7% in the third quarter. Sax Wealth Advisors LLC now owns 8,306 shares of the company’s stock worth $421,000 after purchasing an additional 220 shares during the last quarter. Condor Capital Management grew its stake in shares of JPMorgan Ultra-Short Income ETF by 1.6% in the third quarter. Condor Capital Management now owns 14,607 shares of the company’s stock worth $741,000 after purchasing an additional 231 shares during the last quarter. Finally, Daner Wealth Management LLC increased its holdings in JPMorgan Ultra-Short Income ETF by 1.1% in the third quarter. Daner Wealth Management LLC now owns 21,885 shares of the company’s stock valued at $1,110,000 after purchasing an additional 236 shares during the period. 2.17% of the stock is owned by institutional investors and hedge funds.

JPMorgan Ultra-Short Income ETF Stock Performance

Shares of JPST opened at $50.71 on Thursday. The company has a market capitalization of $36.39 billion, a PE ratio of 110.24 and a beta of 0.01. JPMorgan Ultra-Short Income ETF has a 12 month low of $50.30 and a 12 month high of $50.79. The stock’s 50-day moving average price is $50.68 and its two-hundred day moving average price is $50.67.

JPMorgan Ultra-Short Income ETF Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, February 4th. Investors of record on Monday, February 2nd were paid a $0.172 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, February 2nd. JPMorgan Ultra-Short Income ETF’s payout ratio is currently 482.61%.

JPMorgan Ultra-Short Income ETF Profile

The JPMorgan Ultra-Short Income ETF (JPST) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed fund that aims to maximize income and preserve capital using USD-denominated debt securities with an effective duration of one year or less. JPST was launched on May 17, 2017 and is managed by JPMorgan Chase.