JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) Stock Short Interest Climbs 282.1%

JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 112,302 shares, an increase of 282.1% from the September 30th total of 29,391 shares. Based on an average daily volume of 141,490 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.3% of the shares of the company are short sold.

JPMorgan U.S. Momentum Factor ETF Price Performance

NYSEARCA JMOM traded up $0.55 on Wednesday, hitting $82.26. 140,189 shares of the company’s stock were exchanged, compared to its average volume of 120,492. The firm’s 50-day moving average price is $82.80 and its two-hundred day moving average price is $77.86. JPMorgan U.S. Momentum Factor ETF has a fifty-two week low of $64.82 and a fifty-two week high of $86.07. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 27.64 and a beta of 1.06.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hershey Financial Advisers LLC purchased a new position in JPMorgan U.S. Momentum Factor ETF in the 1st quarter valued at approximately $2,170,000. Zhang Financial LLC acquired a new position in JPMorgan U.S. Momentum Factor ETF during the first quarter worth $838,000. Cassia Capital Partners LLC raised its holdings in JPMorgan U.S. Momentum Factor ETF by 8.9% during the first quarter. Cassia Capital Partners LLC now owns 141,476 shares of the company’s stock worth $9,609,000 after purchasing an additional 11,610 shares during the last quarter. Midwest Trust Co purchased a new stake in JPMorgan U.S. Momentum Factor ETF during the first quarter worth $427,000. Finally, Wealth Enhancement Trust Services Inc. boosted its position in JPMorgan U.S. Momentum Factor ETF by 12.6% during the third quarter. Wealth Enhancement Trust Services Inc. now owns 81,841 shares of the company’s stock worth $6,821,000 after purchasing an additional 9,139 shares in the last quarter.

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.