JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) Short Interest Up 145.4% in August

JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 98,094 shares, an increase of 145.4% from the July 30th total of 39,970 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average trading volume of 128,392 shares, the days-to-cover ratio is presently 0.8 days.

JPMorgan U.S. Momentum Factor ETF Stock Performance

JMOM opened at $83.47 on Friday. JPMorgan U.S. Momentum Factor ETF has a one year low of $64.61 and a one year high of $85.91. The company has a market cap of $2.59 billion, a P/E ratio of 27.64 and a beta of 1.06. The business’s 50-day simple moving average is $83.06 and its 200-day simple moving average is $77.54.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC purchased a new position in JPMorgan U.S. Momentum Factor ETF in the second quarter valued at approximately $377,000. Concurrent Investment Advisors LLC lifted its position in shares of JPMorgan U.S. Momentum Factor ETF by 33.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,744 shares of the company’s stock worth $491,000 after buying an additional 1,424 shares during the last quarter. Triumph Capital Management lifted its position in shares of JPMorgan U.S. Momentum Factor ETF by 111.5% during the 2nd quarter. Triumph Capital Management now owns 10,784 shares of the company’s stock worth $922,000 after buying an additional 5,686 shares during the last quarter. Contango Wealth Management LLC acquired a new position in shares of JPMorgan U.S. Momentum Factor ETF in the 1st quarter valued at $1,356,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of JPMorgan U.S. Momentum Factor ETF by 2.2% in the 1st quarter. NewEdge Advisors LLC now owns 6,523 shares of the company’s stock valued at $443,000 after buying an additional 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.