JPMorgan U.S. Tech Leaders ETF (NASDAQ:JTEK) Sets New 52-Week High – Still a Buy?

Shares of JPMorgan U.S. Tech Leaders ETF (NASDAQ:JTEK) reached a new 52-week high on Friday . The company traded as high as $76.38 and last traded at $76.38, with a volume of 24673 shares traded. The stock had previously closed at $75.83.

JPMorgan U.S. Tech Leaders ETF Stock Performance

The stock has a market cap of $778.57 million, a P/E ratio of 47.95 and a beta of 1.82. The firm has a 50-day moving average price of $70.66 and a 200-day moving average price of $67.74.

Hedge Funds Weigh In On JPMorgan U.S. Tech Leaders ETF

A number of institutional investors have recently added to or reduced their stakes in the company. Ignite Planners LLC purchased a new position in JPMorgan U.S. Tech Leaders ETF during the second quarter valued at $376,000. MBL Wealth LLC bought a new position in shares of JPMorgan U.S. Tech Leaders ETF in the 2nd quarter worth about $2,431,000. Bank of New York Mellon Corp purchased a new position in JPMorgan U.S. Tech Leaders ETF during the 2nd quarter valued at about $265,000. Commonwealth Equity Services LLC lifted its position in JPMorgan U.S. Tech Leaders ETF by 1,584.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 81,754 shares of the company’s stock valued at $5,661,000 after acquiring an additional 76,900 shares during the period. Finally, Private Wealth Partners LLC boosted its stake in JPMorgan U.S. Tech Leaders ETF by 125.1% during the second quarter. Private Wealth Partners LLC now owns 41,075 shares of the company’s stock worth $2,844,000 after acquiring an additional 22,825 shares in the last quarter.

JPMorgan U.S. Tech Leaders ETF Company Profile

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.