Beacon Investment Advisory Services Inc. Raises Stock Position in JPMorgan Ultra-Short Municipal ETF $JMST

Beacon Investment Advisory Services Inc. lifted its holdings in shares of JPMorgan Ultra-Short Municipal ETF (BATS:JMST) by 23.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 97,202 shares of the company’s stock after buying an additional 18,212 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in JPMorgan Ultra-Short Municipal ETF were worth $4,951,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. HB Wealth Management LLC increased its holdings in JPMorgan Ultra-Short Municipal ETF by 173.7% in the 3rd quarter. HB Wealth Management LLC now owns 1,733,119 shares of the company’s stock valued at $88,458,000 after purchasing an additional 1,099,860 shares in the last quarter. Bank of America Corp DE boosted its position in shares of JPMorgan Ultra-Short Municipal ETF by 13.8% in the third quarter. Bank of America Corp DE now owns 3,786,554 shares of the company’s stock worth $193,266,000 after buying an additional 460,157 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of JPMorgan Ultra-Short Municipal ETF by 36.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 1,070,471 shares of the company’s stock worth $54,514,000 after buying an additional 287,650 shares during the period. Raymond James Financial Inc. grew its stake in shares of JPMorgan Ultra-Short Municipal ETF by 26.9% in the third quarter. Raymond James Financial Inc. now owns 906,585 shares of the company’s stock valued at $46,272,000 after buying an additional 192,119 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of JPMorgan Ultra-Short Municipal ETF by 18.6% in the third quarter. JPMorgan Chase & Co. now owns 1,200,503 shares of the company’s stock valued at $61,274,000 after buying an additional 188,546 shares in the last quarter.

JPMorgan Ultra-Short Municipal ETF Stock Performance

Shares of BATS:JMST opened at $50.96 on Monday. The business’s 50-day simple moving average is $51.05 and its 200 day simple moving average is $51.00. JPMorgan Ultra-Short Municipal ETF has a one year low of $50.42 and a one year high of $51.13.

JPMorgan Ultra-Short Municipal ETF Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, March 2nd were given a $0.1157 dividend. This represents a c) annualized dividend and a yield of 2.7%. This is a positive change from JPMorgan Ultra-Short Municipal ETF’s previous monthly dividend of $0.10. The ex-dividend date of this dividend was Monday, March 2nd.

About JPMorgan Ultra-Short Municipal ETF

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.