Investment firm Ballentine Capital Advisors Inc has significantly increased its holdings in the JPMorgan Ultra-Short Income ETF (NYSEARCA: JPST), raising its position by 59.9% during the second quarter of 2023. According to a report from HoldingsChannel, Ballentine now owns 41,852 shares of the ETF after acquiring an additional 15,684 shares in that period. This investment now constitutes approximately 1.0% of Ballentine’s total portfolio, making it the firm’s 13th largest holding.
As of the end of the most recent reporting period, Ballentine’s investment in the JPMorgan Ultra-Short Income ETF was valued at $2,121,000. This move reflects a growing confidence among institutional investors in this particular fund, which is designed to provide exposure to short-duration, investment-grade fixed income securities.
Several other institutional investors have also adjusted their stakes in the fund. Notably, Chelsea Counsel Co. established a new position in the ETF during the first quarter, investing approximately $25,000. Meanwhile, Brentview Investment Management LLC and Frazier Financial Advisors LLC both acquired new stakes valued at around $35,000 and $41,000, respectively, during the second quarter. Additionally, Quaker Wealth Management LLC increased its position by 173.1%, now holding 805 shares worth approximately $41,000 after acquiring 1,906 shares in the quarter. Vestor Capital LLC also secured a new stake in the ETF, valued at around $41,000.
At present, institutional investors and hedge funds collectively own 2.17% of the JPST stock.
Current Stock Performance and Fund Overview
As of the latest trading session, shares of the JPMorgan Ultra-Short Income ETF opened at $50.64. The fund has a total market capitalization of $34.20 billion, with a price-to-earnings (P/E) ratio of 110.09 and a beta of 0.01, indicating low volatility compared to the broader market. Over the past fifty-two weeks, the stock has seen a low of $50.30 and a high of $50.78.
The JPMorgan Ultra-Short Income ETF primarily invests in investment-grade fixed income securities and is actively managed to maximize income while preserving capital. The fund, which was launched on May 17, 2017, focuses on USD-denominated debt with an effective duration of one year or less, making it an attractive option for investors seeking stability in a fluctuating market.
For those interested in the latest updates regarding the JPMorgan Ultra-Short Income ETF or other hedge funds’ activities, HoldingsChannel.com offers comprehensive resources, including the latest 13F filings and insider trades related to the fund.
