JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) Sees Significant Decline in Short Interest

JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) saw a large decline in short interest in June. As of June 30th, there was short interest totaling 26,827 shares, a decline of 73.1% from the June 15th total of 99,570 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 80,527 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Contango Wealth Management LLC acquired a new stake in JPMorgan U.S. Momentum Factor ETF in the first quarter valued at approximately $1,356,000. NewEdge Advisors LLC raised its position in shares of JPMorgan U.S. Momentum Factor ETF by 2.2% during the first quarter. NewEdge Advisors LLC now owns 6,523 shares of the company’s stock worth $443,000 after purchasing an additional 139 shares during the period. Bank of America Corp DE lifted its holdings in shares of JPMorgan U.S. Momentum Factor ETF by 7.3% in the 1st quarter. Bank of America Corp DE now owns 56,584 shares of the company’s stock worth $3,843,000 after purchasing an additional 3,873 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of JPMorgan U.S. Momentum Factor ETF by 4.7% in the 1st quarter. Cetera Investment Advisers now owns 41,980 shares of the company’s stock worth $2,851,000 after purchasing an additional 1,903 shares in the last quarter. Finally, Florida Financial Advisors LLC acquired a new stake in JPMorgan U.S. Momentum Factor ETF in the 1st quarter valued at $209,000.

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

NYSEARCA JMOM traded up $0.69 on Tuesday, hitting $83.33. 48,275 shares of the company were exchanged, compared to its average volume of 109,283. The company has a market cap of $2.49 billion, a PE ratio of 27.64 and a beta of 1.06. JPMorgan U.S. Momentum Factor ETF has a 12 month low of $63.29 and a 12 month high of $85.64. The stock has a fifty day moving average of $81.84 and a 200-day moving average of $74.54.

JPMorgan U.S. Momentum Factor ETF Company Profile

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.