Back to top
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Ultra-Short Income ETF (JPST) Hit a New 52-Week High
For investors seeking momentum, JPMorgan Ultra-Short Income ETF (JPST - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 1.12% from its 52-week low price of $49.96/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
JPST in Focus
The JPMorgan Ultra-Short Income ETF seeks to achieve its investment objective by primarily investing in investment grade, U.S. dollar denominated short-term fixed, variable and floating rate debt. The product charges 18 bps in annual fees.
Why the Move?
The Fed is likely to cut short-terms as soon as in September due to cooling in inflation and the labor market. This should drive down short-term bond yields. As a result, JPST ETF, which offers 5.22% annual yield hit a 52-week high lately due to high demand.
More Gains Ahead?
The ETF JPST might continue its strong performance in the near term, with a positive weighted alpha of 0.75, which gives cues of a further rally.