Crestwood Advisors Group LLC has increased its holdings in the JPMorgan Small & Mid Cap Enhanced Equity ETF (NYSEARCA:JMEE) by 8.8% during the third quarter of 2023, as indicated by its recent 13F filing with the U.S. Securities and Exchange Commission (SEC). The firm now owns 935,867 shares of the ETF, having acquired an additional 75,929 shares in this period. This investment represents approximately 1.0% of Crestwood’s overall portfolio, making it the 29th largest position in their holdings.
As of the latest SEC filing, Crestwood Advisors Group LLC’s stake in the JPMorgan ETF is valued at roughly $59.36 million, accounting for about 2.89% of the ETF’s total shares. The recent increase in Crestwood’s investment reflects a broader trend among institutional investors, several of whom have also adjusted their positions in this fund.
Other Institutional Investments Surge
Among these institutional adjustments, Capital Advisors Wealth Management LLC made a remarkable increase of 3,842.8% in its holdings during the same quarter, now owning 202,383 shares valued at approximately $12.84 million. This surge was fueled by the acquisition of an additional 197,250 shares.
Similarly, Great Valley Advisor Group Inc. raised its stake in the ETF by 22.5% in the previous quarter, bringing its total to 845,752 shares, which are now valued at around $50.08 million. Other notable increases include American Trust, which took a new position worth about $4.48 million, and Cetera Investment Advisers, which lifted its holdings by 13.9%, now owning 579,860 shares valued at approximately $34.33 million.
Finally, Raymond James Financial Inc. also expanded its position in the ETF by 18.2%, adding 62,937 shares to its portfolio.
Market Performance of JMEE
On Tuesday, the JPMorgan Small & Mid Cap Enhanced Equity ETF opened at $70.18, reflecting a 1.2% increase during trading. Over the past year, the stock has fluctuated between a low of $48.18 and a high of $71.10. The ETF’s current market capitalization stands at approximately $2.35 billion, with a price-to-earnings (P/E) ratio of 17.83 and a beta of 1.09, indicating its volatility in relation to the market.
The JPMorgan Small & Mid Cap Enhanced Equity ETF was launched on May 6, 2022 and is actively managed by JPMorgan Chase. This ETF aims to provide exposure to small- and mid-cap U.S. stocks and real estate investment trusts (REITs), utilizing proprietary selection and weighting criteria to potentially outperform the total return of the S&P 1000 Index.
These developments reflect a growing confidence among institutional investors in the potential of the ETF, further emphasizing its position in the competitive landscape of equity funds.
