JPMorgan U.S. Tech Leaders ETF (NASDAQ:JTEK) Hits New 52-Week High – Here’s Why

JPMorgan U.S. Tech Leaders ETF (NASDAQ:JTEK)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $76.38 and last traded at $76.38, with a volume of 24673 shares changing hands. The stock had previously closed at $75.83.

JPMorgan U.S. Tech Leaders ETF Price Performance

The firm’s 50-day moving average price is $70.46 and its 200-day moving average price is $67.65. The stock has a market cap of $778.46 million, a P/E ratio of 47.95 and a beta of 1.82.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of JTEK. Envestnet Asset Management Inc. grew its holdings in shares of JPMorgan U.S. Tech Leaders ETF by 108.2% in the second quarter. Envestnet Asset Management Inc. now owns 185,089 shares of the company’s stock valued at $12,817,000 after purchasing an additional 96,172 shares in the last quarter. Foundry Financial Group Inc. purchased a new position in shares of JPMorgan U.S. Tech Leaders ETF in the second quarter valued at $6,508,000. Commonwealth Equity Services LLC grew its holdings in shares of JPMorgan U.S. Tech Leaders ETF by 1,584.3% in the second quarter. Commonwealth Equity Services LLC now owns 81,754 shares of the company’s stock valued at $5,661,000 after purchasing an additional 76,900 shares in the last quarter. MBL Wealth LLC purchased a new position in shares of JPMorgan U.S. Tech Leaders ETF in the second quarter valued at $2,431,000. Finally, Susquehanna International Group LLP boosted its stake in JPMorgan U.S. Tech Leaders ETF by 131.6% during the second quarter. Susquehanna International Group LLP now owns 55,549 shares of the company’s stock worth $3,847,000 after buying an additional 31,564 shares during the period.

About JPMorgan U.S. Tech Leaders ETF

The JPMorgan U.S. Tech Leaders ETF JPMorgan U.S. Tech Leaders ETF (JTEK) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund is an actively managed fund that identifies US equities that are perceived as leaders in technology and technology-enabled industries such as engineering & construction, entertainment, biotechnology, pharmaceuticals, REITs, and energy-alternate sources.