JPMorgan shutting down ETFs that use hedge fund strategies

JPMorgan Chase & Co. is planning to close a handful of ETFs that echo strategies used by hedge funds.

The $22.6 million JPMorgan Long/Short ETF (JPLS), the $53.9 million JPMorgan Managed Futures Strategy ETF (JPMF), the $53.8 million JPMorgan Diversified Alternatives ETF (JPHF) and the $25.1 million JPMorgan Event Driven ETF (JPED) will be liquidated in June, the bank said in a statement Friday...