Raymond James Financial Inc. Invests $22.23 Million in JPMorgan Ultra-Short Municipal ETF (BATS:JMST)

Raymond James Financial Inc. acquired a new stake in JPMorgan Ultra-Short Municipal ETF (BATS:JMST) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 438,358 shares of the company’s stock, valued at approximately $22,229,000. Raymond James Financial Inc. owned approximately 0.85% of JPMorgan Ultra-Short Municipal ETF as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in JMST. Bailard Inc. bought a new stake in shares of JPMorgan Ultra-Short Municipal ETF in the fourth quarter worth about $43,522,000. HB Wealth Management LLC increased its stake in JPMorgan Ultra-Short Municipal ETF by 395.8% during the 4th quarter. HB Wealth Management LLC now owns 580,541 shares of the company’s stock worth $29,439,000 after purchasing an additional 463,452 shares in the last quarter. LPL Financial LLC increased its stake in JPMorgan Ultra-Short Municipal ETF by 20.9% during the 4th quarter. LPL Financial LLC now owns 2,328,339 shares of the company’s stock worth $118,070,000 after purchasing an additional 402,646 shares in the last quarter. Corient Private Wealth LLC lifted its stake in JPMorgan Ultra-Short Municipal ETF by 30.3% in the fourth quarter. Corient Private Wealth LLC now owns 695,881 shares of the company’s stock valued at $35,288,000 after buying an additional 161,884 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of JPMorgan Ultra-Short Municipal ETF by 33.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 602,612 shares of the company’s stock valued at $30,563,000 after buying an additional 151,260 shares during the period.

JPMorgan Ultra-Short Municipal ETF Stock Performance

Shares of BATS:JMST opened at $50.63 on Friday. The company’s fifty day simple moving average is $50.76 and its 200 day simple moving average is $50.79. JPMorgan Ultra-Short Municipal ETF has a 12 month low of $50.42 and a 12 month high of $50.98.

JPMorgan Ultra-Short Municipal ETF Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, March 3rd were issued a $0.1277 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This is an increase from JPMorgan Ultra-Short Municipal ETF’s previous dividend of $0.12.

JPMorgan Ultra-Short Municipal ETF Profile

The JPMorgan Ultra-Short Municipal Income ETF (JMST) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund is an actively managed portfolio of US municipal bonds with a weighted average maturity of two years or less. JMST was launched on Oct 16, 2018 and is managed by JPMorgan Chase.