The JPMorgan U.S. Momentum Factor ETF (NYSEARCA: JMOM) experienced a substantial decline in short interest as of January 30, 2023. The short interest fell to 48,448 shares, marking a decrease of 54.1% from the January 15 figure of 105,553 shares. This reduction indicates a more optimistic sentiment among investors, as approximately 0.2% of the ETF’s stock is currently short sold, suggesting that the short-interest ratio stands at just 0.2 days based on an average daily volume of 207,862 shares.
During midday trading on Friday, shares of JMOM rose by 0.7%, reaching $70.48. In total, 78,915 shares were exchanged, which is below the ETF’s average volume of 131,684 shares. The ETF has seen a noteworthy price trajectory over the past year, with a low of $48.68 and a high of $71.65. The current 50-day moving average price is $69.64, while the 200-day moving average sits at $67.92. The ETF holds a market capitalization of $1.93 billion and a price-to-earnings ratio of 27.64, with a beta of 1.04.
Institutional Investment Trends
Institutional investors have actively adjusted their positions in the JPMorgan U.S. Momentum Factor ETF. Notably, Northwestern Mutual Wealth Management Co. significantly increased its stake by 16,222.7% in the fourth quarter, now owning 904,112 shares valued at approximately $61.6 million after acquiring an additional 898,573 shares during that period.
Similarly, Blue Trust Inc. expanded its holdings by 9.2%, bringing its total to 4,683,934 shares worth about $319.2 million after purchasing an additional 395,006 shares. Wealth Enhancement Advisory Services LLC also grew its investment by 2.9%, now holding 12,246,694 shares valued at $860.36 million after adding 350,687 shares in the same quarter.
Additionally, JPMorgan Chase & Co. increased its position by 62.7%, acquiring 285,477 shares to reach a total of 740,661 shares valued at approximately $47.6 million. Systelligence LLC also initiated a new position in the ETF worth $9.58 million during the second quarter.
Overview of the ETF
The JPMorgan U.S. Momentum Factor ETF, launched on November 8, 2017, tracks the JP Morgan US Momentum Factor Index. This exchange-traded fund focuses on large-cap U.S. companies demonstrating strong momentum, with a portfolio weighted by optimized market capitalization. Managed by JPMorgan Chase, the ETF aims to provide investors with exposure to equities that are expected to outperform based on their recent performance.
As the financial landscape continues to evolve, the significant adjustments in short interest and institutional investments highlight shifting investor sentiment and market dynamics surrounding the JPMorgan U.S. Momentum Factor ETF. Interested investors can stay updated on the latest news and analyst ratings through financial news platforms and newsletters tailored for market insights.
