Ballentine Capital Advisors Inc has significantly increased its investment in the JPMorgan Ultra-Short Income ETF (NYSEARCA: JPST), raising its position by 59.9% during the second quarter of 2023. This institutional investor now holds 41,852 shares of the ETF, following the acquisition of an additional 15,684 shares during this period. The ETF now constitutes approximately 1.0% of Ballentine Capital Advisors’ portfolio, making it their 13th largest holding. As of the end of the most recent reporting period, these holdings were valued at $2,121,000.
Increased Institutional Interest
Other institutional investors have also made adjustments to their holdings in the JPMorgan Ultra-Short Income ETF. For instance, Chelsea Counsel Co. entered the market with a new position in the ETF during the first quarter, investing approximately $25,000. In the same quarter, Brentview Investment Management LLC purchased a stake worth about $35,000, while Frazier Financial Advisors LLC added a new stake valued at around $41,000.
Additionally, Quaker Wealth Management LLC expanded its position by 173.1% during the second quarter, bringing their total to 805 shares worth $41,000 after acquiring an extra 1,906 shares in the last quarter. Vestor Capital LLC also made a new investment in the ETF during the same period, valued at approximately $41,000.
Overall, institutional investors and hedge funds collectively own 2.17% of the stock.
Stock Performance and Overview
As of Monday, shares of the JPMorgan Ultra-Short Income ETF opened at $50.64. The ETF has a market capitalization of $34.20 billion and a price-to-earnings (P/E) ratio of 110.09, with a beta of 0.01. The ETF has recorded a fifty-two week low of $50.30 and a high of $50.78, with a 50-day moving average of $50.67 and a 200-day moving average of $50.63.
The JPMorgan Ultra-Short Income ETF, launched on May 17, 2017, is designed to primarily invest in investment-grade fixed income securities. This actively managed fund aims to maximize income while preserving capital through investments in USD-denominated debt securities with an effective duration of one year or less. The fund is managed by JPMorgan Chase.
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