JPMorgan Municipal ETF (NYSEARCA:JMUB) Reaches New 52-Week Low – Here’s Why

JPMorgan Municipal ETF (NYSEARCA:JMUB)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $49.25 and last traded at $49.27, with a volume of 119550 shares changing hands. The stock had previously closed at $49.52.

JPMorgan Municipal ETF Stock Down 0.2%

The firm’s 50-day simple moving average is $49.99 and its 200-day simple moving average is $50.28. The firm has a market capitalization of $8.32 billion, a PE ratio of 9.96 and a beta of 0.23.

Hedge Funds Weigh In On JPMorgan Municipal ETF

Several hedge funds and other institutional investors have recently modified their holdings of JMUB. Wellington Grp LLC grew its position in shares of JPMorgan Municipal ETF by 572.0% in the 1st quarter. Wellington Grp LLC now owns 625 shares of the company’s stock worth $31,000 after buying an additional 532 shares during the period. Brown Brothers Harriman & Co. bought a new stake in JPMorgan Municipal ETF during the fourth quarter worth about $34,000. Franklin Resources Inc. bought a new stake in JPMorgan Municipal ETF during the third quarter worth about $41,000. SHP Wealth Management purchased a new stake in JPMorgan Municipal ETF in the fourth quarter worth about $47,000. Finally, Lavaca Capital LLC bought a new position in shares of JPMorgan Municipal ETF during the fourth quarter valued at approximately $48,000.

About JPMorgan Municipal ETF

The JPMorgan Municipal ETF (JMUB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund holds an actively managed portfolio of various US municipal securities. JMUB was launched on Oct 29, 2018 and is managed by JPMorgan Chase.