Hershey Financial Advisers LLC has made a significant investment by acquiring a new stake in the JPMorgan Ultra-Short Income ETF (NYSEARCA: JPST) valued at approximately $3.95 million. This purchase, disclosed in a filing with the Securities and Exchange Commission (SEC), involved the acquisition of 77,867 shares during the second quarter of 2023. This ETF now represents around 3.5% of Hershey Financial Advisers’ investment portfolio, establishing it as the firm’s sixth largest holding.
Several other institutional investors have also adjusted their positions in the JPMorgan ETF recently. The National Bank of Canada FI increased its stake by 7.1% in the first quarter, now owning 13,239 shares valued at $670,000 after acquiring an additional 874 shares. Similarly, Nations Financial Group Inc. IA ADV raised its position by 6.6%, bringing its total to 21,535 shares worth $1.09 million following a purchase of 1,334 shares.
Another notable increase came from Alliance Wealth Advisors LLC UT, which boosted its holdings by 9.1%, owning 300,569 shares valued at $15.22 million after acquiring an additional 25,144 shares. Meanwhile, Elevatus Wealth Management made a remarkable increase, raising its holdings by 598.6% to 333,927 shares worth $16.91 million after purchasing an additional 286,126 shares. Raymond James Financial Inc. also raised its holdings by 14.4%, now controlling 3,948,223 shares valued at $199.90 million after buying 496,085 shares.
As of now, institutional investors own approximately 2.17% of the JPMorgan Ultra-Short Income ETF, reflecting a growing interest among financial firms in this investment vehicle.
Performance Overview of JPMorgan Ultra-Short Income ETF
The shares of the JPMorgan Ultra-Short Income ETF opened at $50.64 on the most recent trading day. The stock has demonstrated stability, with a fifty-day simple moving average of $50.67 and a two-hundred-day simple moving average of $50.63. Over the past year, the ETF has experienced a low of $50.30 and a high of $50.78.
With a market capitalization of $34.20 billion, the fund has a price-to-earnings ratio of 110.09 and a beta of 0.01, indicating minimal volatility compared to the broader market.
Understanding the Fund’s Strategy
The JPMorgan Ultra-Short Income ETF is an actively managed exchange-traded fund primarily focused on investment-grade fixed income securities. Its strategy aims to maximize income while preserving capital through investments in USD-denominated debt securities with an effective duration of one year or less. Launched on May 17, 2017, the fund is managed by JPMorgan Chase.
This investment trend reflects not only the confidence of institutional investors in the ETF but also indicates a broader strategy among financial advisors to secure stable income streams in a fluctuating economic environment.
For those interested in tracking institutional holdings or exploring deeper insights into financial strategies, resources such as HoldingsChannel.com can provide up-to-date 13F filings and insider trades related to the JPMorgan Ultra-Short Income ETF (NYSEARCA: JPST).
