JPMorgan U.S. Value Factor ETF (NYSEARCA:JVAL) Sees Significant Decrease in Short Interest

JPMorgan U.S. Value Factor ETF (NYSEARCA:JVAL) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totaling 51,422 shares, a drop of 39.3% from the August 15th total of 84,664 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 99,209 shares, the days-to-cover ratio is currently 0.5 days.

JPMorgan U.S. Value Factor ETF Stock Performance

NYSEARCA:JVAL traded up $0.08 during mid-day trading on Wednesday, hitting $58.93. 10,645 shares of the company’s stock traded hands, compared to its average volume of 69,920. The company has a fifty day moving average of $58.89 and a 200 day moving average of $55.59. JPMorgan U.S. Value Factor ETF has a twelve month low of $45.91 and a twelve month high of $60.64. The company has a market capitalization of $851.58 million, a P/E ratio of 16.37 and a beta of 0.96.

Hedge Funds Weigh In On JPMorgan U.S. Value Factor ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cary Street Partners Financial LLC raised its position in shares of JPMorgan U.S. Value Factor ETF by 1.0% during the 4th quarter. Cary Street Partners Financial LLC now owns 24,762 shares of the company’s stock valued at $1,215,000 after buying an additional 247 shares during the period. Geneos Wealth Management Inc. grew its position in JPMorgan U.S. Value Factor ETF by 22.4% in the first quarter. Geneos Wealth Management Inc. now owns 3,180 shares of the company’s stock worth $155,000 after acquiring an additional 581 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in JPMorgan U.S. Value Factor ETF during the first quarter worth $37,000. Western Wealth Management LLC acquired a new stake in JPMorgan U.S. Value Factor ETF during the first quarter worth $45,000. Finally, Triad Wealth Partners LLC raised its position in JPMorgan U.S. Value Factor ETF by 26.6% in the first quarter. Triad Wealth Partners LLC now owns 8,057 shares of the company’s stock valued at $394,000 after purchasing an additional 1,691 shares during the period.

About JPMorgan U.S. Value Factor ETF

The JPMorgan U.S. Value Factor ETF (JVAL) is an exchange-traded fund that is based on the JP Morgan US Value Factor index. The fund tracks an index of large-cap US equities that are selected and weighted by four relative valuation factors: book yield, earnings yield, dividend yield and cash flow yield. JVAL was launched on Nov 8, 2017 and is managed by JPMorgan Chase.