Bridgewater Advisors Inc. has made a significant investment in the JPMorgan Municipal ETF (BATS: JMUB), acquiring 112,941 shares valued at approximately $5,571,000. This acquisition took place during the second quarter of 2023, according to data from Holdings Channel. The move reflects a growing interest in the fund, which primarily invests in investment-grade municipal securities.
Several other large investors have also adjusted their positions in the JPMorgan Municipal ETF. LPL Financial LLC increased its stake by 7.1% in the first quarter, bringing its total ownership to 2,847,971 shares valued at $142,399,000 after purchasing an additional 188,645 shares. Meeder Advisory Services Inc. entered the fray with a new stake worth approximately $126,587,000, while Northwestern Mutual Wealth Management Co. enhanced its position by 9.5%, now holding 2,199,520 shares valued at $109,976,000.
Wealth Enhancement Advisory Services LLC also boosted its investment in the ETF by an impressive 42.9% during the second quarter. The firm now owns 1,899,154 shares valued at $94,037,000 after acquiring an additional 569,892 shares. Raymond James Financial Inc. increased its stake by 20.5% in the first quarter, now holding 1,519,479 shares valued at $75,974,000.
Stock Performance and Market Metrics
The JPMorgan Municipal ETF opened at $50.66 on Monday, with a 50-day simple moving average of $50.31 and a two-hundred-day simple moving average of $49.71. Over the past year, the ETF has fluctuated between a low of $47.95 and a high of $51.31. The fund currently boasts a market capitalization of $3.11 billion, a price-to-earnings ratio of 9.96, and a beta of 0.21, indicating lower volatility compared to the broader market.
About the JPMorgan Municipal ETF
Launched on October 29, 2018, the JPMorgan Municipal ETF is actively managed by JPMorgan Chase. It primarily focuses on investment-grade fixed-income securities issued by U.S. municipalities. The ETF aims to provide investors with a diversified portfolio that captures the performance of the municipal bond market.
As interest in municipal securities continues to grow, the recent investments by Bridgewater Advisors and other firms underscore the fund’s appeal among large institutional investors. For those interested in tracking hedge fund activity, Holdings Channel provides insights into the latest 13F filings and insider trades for the JPMorgan Municipal ETF.
Investors are encouraged to stay informed about market trends and developments regarding the JPMorgan Municipal ETF as it navigates the evolving financial landscape.
