JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) Reaches New 1-Year High – Here’s Why

JPMorgan U.S. Momentum Factor ETF (NYSEARCA:JMOM) hit a new 52-week high on Tuesday . The stock traded as high as $75.20 and last traded at $75.20, with a volume of 430 shares. The stock had previously closed at $74.96.

JPMorgan U.S. Momentum Factor ETF Stock Up 0.4%

The company has a fifty day moving average of $70.29 and a two-hundred day moving average of $69.28. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 27.64 and a beta of 1.05.

Institutional Investors Weigh In On JPMorgan U.S. Momentum Factor ETF

Several hedge funds have recently modified their holdings of JMOM. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of JPMorgan U.S. Momentum Factor ETF by 16,222.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 904,112 shares of the company’s stock worth $61,615,000 after purchasing an additional 898,573 shares during the period. Blue Trust Inc. lifted its holdings in shares of JPMorgan U.S. Momentum Factor ETF by 9.2% during the fourth quarter. Blue Trust Inc. now owns 4,683,934 shares of the company’s stock worth $319,210,000 after purchasing an additional 395,006 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of JPMorgan U.S. Momentum Factor ETF by 2.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,246,694 shares of the company’s stock worth $860,360,000 after purchasing an additional 350,687 shares during the period. Shore Point Advisors LLC lifted its holdings in shares of JPMorgan U.S. Momentum Factor ETF by 28.2% during the fourth quarter. Shore Point Advisors LLC now owns 637,108 shares of the company’s stock worth $43,419,000 after purchasing an additional 140,326 shares during the period. Finally, Equitable Holdings Inc. lifted its holdings in shares of JPMorgan U.S. Momentum Factor ETF by 11.3% during the fourth quarter. Equitable Holdings Inc. now owns 1,109,250 shares of the company’s stock worth $75,595,000 after purchasing an additional 112,669 shares during the period.

JPMorgan U.S. Momentum Factor ETF Company Profile

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.