JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) Hits New 12-Month High – Here’s Why

JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) hit a new 52-week high on Tuesday . The company traded as high as $79.86 and last traded at $79.78, with a volume of 69150 shares trading hands. The stock had previously closed at $79.11.

JPMorgan U.S. Momentum Factor ETF Trading Up 0.8%

The business has a 50 day simple moving average of $71.81 and a two-hundred day simple moving average of $70.09. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 27.64 and a beta of 1.06.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in JMOM. Jane Street Group LLC acquired a new position in shares of JPMorgan U.S. Momentum Factor ETF in the 1st quarter worth approximately $1,790,000. Raymond James Financial Inc. grew its position in shares of JPMorgan U.S. Momentum Factor ETF by 12.2% in the 2nd quarter. Raymond James Financial Inc. now owns 13,787 shares of the company’s stock worth $886,000 after acquiring an additional 1,496 shares in the last quarter. Bank of America Corp DE grew its position in shares of JPMorgan U.S. Momentum Factor ETF by 23.7% in the 2nd quarter. Bank of America Corp DE now owns 28,434 shares of the company’s stock worth $1,828,000 after acquiring an additional 5,449 shares in the last quarter. Orion Porfolio Solutions LLC grew its position in shares of JPMorgan U.S. Momentum Factor ETF by 39.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 88,760 shares of the company’s stock worth $5,555,000 after acquiring an additional 25,219 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of JPMorgan U.S. Momentum Factor ETF by 334.8% in the 2nd quarter. Smartleaf Asset Management LLC now owns 687 shares of the company’s stock worth $44,000 after acquiring an additional 529 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.