Crestwood Advisors Group LLC has increased its holdings in the JPMorgan Small & Mid Cap Enhanced Equity ETF (NYSEARCA:JMEE) by 8.8% during the third quarter of 2023. This adjustment was detailed in the firm’s latest filing with the Securities and Exchange Commission (SEC). Crestwood now holds 935,867 shares of the ETF after acquiring an additional 75,929 shares in the recent quarter, making this ETF approximately 1.0% of its overall investment portfolio.
As of the most recent filing, Crestwood Advisors Group LLC’s stake in the JPMorgan Small & Mid Cap Enhanced Equity ETF is valued at about $59.4 million, solidifying its position as the firm’s 29th largest investment. The ETF itself, which focuses on small- and mid-cap US stocks, has garnered attention from multiple institutional investors in recent months.
Institutional Interest Grows
Several other firms have also made significant adjustments to their positions in the JPMorgan Small & Mid Cap Enhanced Equity ETF. Notably, Capital Advisors Wealth Management LLC has dramatically increased its holdings by 3,842.8%, bringing its total to 202,383 shares worth approximately $12.8 million after acquiring an additional 197,250 shares.
Furthermore, Great Valley Advisor Group Inc. raised its stake by 22.5% during the second quarter, now owning 845,752 shares valued at $50.1 million. Other firms such as American Trust, which purchased a new position worth about $4.5 million, and Cetera Investment Advisers, which increased its position by 13.9%, have also contributed to the growing interest in this ETF.
Market Performance and Overview
On the trading front, the JPMorgan Small & Mid Cap Enhanced Equity ETF opened at $70.18 on Tuesday, reflecting a 1.2% increase. Over the past year, the ETF has experienced a low of $48.18 and a high of $71.10, indicating a volatile but upward trajectory. The ETF boasts a market capitalization of $2.35 billion, a price-to-earnings ratio of 17.83, and a beta of 1.09, suggesting a performance that closely mirrors the overall market.
The JPMorgan Small & Mid Cap Enhanced Equity ETF, launched on May 6, 2022, is designed to track the S&P 1000 index. It employs a proprietary selection and weighting methodology aimed at modestly outperforming the total return of the S&P 1000 Index. Managed by JPMorgan Chase, the fund remains an attractive option for investors seeking exposure to small and mid-sized companies in the US market.
As investor interest continues to build, the JPMorgan Small & Mid Cap Enhanced Equity ETF appears well-positioned to navigate the evolving landscape of equity investments.
