MAI Capital Management Cuts Stake in JPMorgan Nasdaq ETF by 42.7%
MAI Capital Management has significantly reduced its stake in the JPMorgan Nasdaq Equity Premium Income ETF (NASDAQ:JEPQ) by 42.7% during the first quarter of 2023, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). The firm now holds 10,949 shares after selling 8,150 shares during this period, valuing its remaining investment at approximately $567,000.
Several other institutional investors have also made notable adjustments to their positions in the JPMorgan ETF. For instance, First Pacific Financial acquired a new stake worth around $25,000 in the first quarter, while Future Financial Wealth Management LLC invested approximately $26,000.
In a notable move, AllSquare Wealth Management LLC increased its holdings by an impressive 91.6%, now owning 502 shares valued at $26,000 after acquiring an additional 240 shares in the last quarter. Similarly, Capital A Wealth Management LLC entered the market in the previous quarter with a stake worth about $29,000. Furthermore, Valley National Advisers Inc. boosted its investment by 111.3% this quarter, now holding 581 shares worth $30,000.
Market Performance and Profile
As of the latest trading session, the JPMorgan Nasdaq Equity Premium Income ETF opened at $55.66, representing a 0.7% increase. The ETF boasts a market capitalization of approximately $29.08 billion, with a price-to-earnings ratio of 32.17 and a beta of -0.84. The fund’s performance has seen fluctuations, with a 12-month low of $44.31 and a high of $58.54.
The J.P. Morgan Nasdaq Equity Premium Income ETF primarily invests in large-cap equities, focusing on companies within the Nasdaq-100 Index. It employs an active management strategy that incorporates environmental, social, and governance (ESG) factors alongside a proprietary data-driven investment approach.
For those interested in further details regarding institutional holdings and transactions, resources such as HoldingsChannel.com provide updates on the latest 13F filings and insider trades related to the JPMorgan Nasdaq Equity Premium Income ETF.
