Summit Financial Strategies Inc. boosted its stake in JPMorgan Municipal ETF (NYSEARCA:JMUB – Free Report) by 1,780.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,961,426 shares of the company’s stock after purchasing an additional 2,803,937 shares during the quarter. JPMorgan Municipal ETF comprises approximately 9.8% of Summit Financial Strategies Inc.’s holdings, making the stock its 2nd largest holding. Summit Financial Strategies Inc. owned 1.75% of JPMorgan Municipal ETF worth $139,607,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wellington Grp LLC boosted its holdings in shares of JPMorgan Municipal ETF by 572.0% during the 1st quarter. Wellington Grp LLC now owns 625 shares of the company’s stock valued at $31,000 after purchasing an additional 532 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of JPMorgan Municipal ETF in the fourth quarter worth about $34,000. Franklin Resources Inc. bought a new stake in shares of JPMorgan Municipal ETF in the third quarter worth about $41,000. SHP Wealth Management purchased a new stake in shares of JPMorgan Municipal ETF in the fourth quarter worth about $47,000. Finally, Lavaca Capital LLC bought a new position in JPMorgan Municipal ETF during the fourth quarter valued at approximately $48,000.
JPMorgan Municipal ETF Price Performance
NYSEARCA JMUB opened at $49.03 on Wednesday. The stock has a market capitalization of $8.31 billion, a PE ratio of 9.96 and a beta of 0.23. The business has a 50 day simple moving average of $49.86 and a two-hundred day simple moving average of $50.22. JPMorgan Municipal ETF has a 1-year low of $48.94 and a 1-year high of $51.34.
JPMorgan Municipal ETF Profile
The JPMorgan Municipal ETF (JMUB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund holds an actively managed portfolio of various US municipal securities. JMUB was launched on Oct 29, 2018 and is managed by JPMorgan Chase.
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