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JPMorgan Ultra-Short Municipal Income ETF (JMST) - free report >>
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JPMorgan Ultra-Short Municipal Income ETF (JMST) - free report >>
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Short-Term Municipal Income ETF (JMST) Hits a 52-Week High
Investors seeking momentum may have JPMorgan Ultra-Short Municipal Income ETF (JMST - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of JMST are up approximately 1.3% from their 52-week low of $50.25/share.
But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.
JMST In Focus
The JPMorgan Ultra-Short Municipal Income ETF seeks to deliver a high level of federal tax-exempt current income while maintaining stability of principal. The fund charges 18 bps in fees and yields 3.26% annually.
Why The Move?
Improving U.S. economic growth and higher yields probably have boosted the fund. The product’s high yielding nature and tax benefits appear great in the current environment. Due to being short-term in nature, the fund also has less interest rate sensitivity.
More Gains Ahead?
The fund has a weighted alpha of negative 0.01. The fund has been trading within a tight range, so there isn't a very bright outlook ahead for those who want to ride this ETF further.