JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) Reaches New 1-Year High – Time to Buy?

Shares of JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) reached a new 52-week high during trading on Tuesday . The stock traded as high as $85.23 and last traded at $85.23, with a volume of 40113 shares traded. The stock had previously closed at $84.38.

JPMorgan U.S. Momentum Factor ETF Price Performance

The stock has a market cap of $2.44 billion, a P/E ratio of 27.64 and a beta of 1.07. The stock’s 50-day moving average is $80.15 and its two-hundred day moving average is $73.48.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Contango Wealth Management LLC bought a new stake in shares of JPMorgan U.S. Momentum Factor ETF in the first quarter worth about $1,356,000. NewEdge Advisors LLC grew its holdings in JPMorgan U.S. Momentum Factor ETF by 2.2% during 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. Bank of America Corp DE grew its holdings in JPMorgan U.S. Momentum Factor ETF by 7.3% during the 1st quarter. Bank of America Corp DE now owns 56,584 shares of the company’s stock valued at $3,843,000 after buying an additional 3,873 shares in the last quarter. Cetera Investment Advisers increased its stake in 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 acquiring an additional 1,903 shares during the last quarter. Finally, Florida Financial Advisors LLC bought a new stake in JPMorgan U.S. Momentum Factor ETF in the 1st quarter worth approximately $209,000.

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.