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JAAA price action

In one of my accounts, I had JAAA I forgot about. I noticed it on Thursday and immediately placed a GTC sell order with a limit price to get my original cost back. It triggered today close to 4PM EST. I am surprised by its price action today with a high-low difference of 17 cents.

Comments

  • @BaluBalu What would be a "more" normal high-low difference for JAAA?
  • IMHO it's not so much a question of what is "normal". If an investor is not comfortable with occasional short term "abormal" fluctuations, then perhaps the investor should be looking elsewhere.

    JAAA's price range yesterday was 17¢. That's a shade less than its range of 18¢ a mere week and a half prior (March 20th). And eight months ago it experienced back to back fluctuations of 28¢ and 69¢(!) (Aug 2, 5).

    https://finance.yahoo.com/quote/JAAA/history/

    Volatility happens. It doesn't mean that JAAA is not a good investment for the right purpose. And if one wants a AAA CLO fund with less volatility, one might consider (as I've written before) investing in a fund that holds only AAA-rated tranches and isn't leveraged. JAAA has about 1% invested in below AAA securities and is 104% long in fixed income.

    https://cdn.janushenderson.com/webdocs/FactSheet_JAAA_ETF_2024_12_exp_2025_04_v2.pdf

    PAAA's price range yesterday was just 5¢ It's 99.7% AAA, 0.3% cash.
    https://www.pgim.com/investments/etfs/pgim-aaa-clo-etf
    https://finance.yahoo.com/quote/PAAA/
  • I own several relatively short duration funds, and all have some odd price action today. Those would include JAAA, NEAR, JPST and JPIE. Not making any changes, but am simply watching. My preferred fund holdings have been doing well. Muni's also.
  • edited April 1
    Thanks, that is useful. I had sold JAAA and other short Duration credit two turns ago and have not followed it since then. For any one reading, the OP is not to suggest that one should sell JAAA now.
  • And just like THAT, everything is good…up nicely.

  • PRESSmUP said:

    And just like THAT, everything is good…up nicely.

    M* artifacts?
  • Odd...for me, the Schwab summary page for my account shows an abnormal decline for JAAA. But selecting the holding for more detail shows a nice gain.

    Appears to be a Schwab reporting bug. Or the summary page is getting a head start on the ex-div pricing.
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