Why does my transmission jerks

What is your question?

When accelerating and reaching the last gear, the transmission seems to grab on and let go for a second and you can feel a slight jerk in the car. No weird sounds or smells from the car at all. Everything else under the hood is pristine and in great condition. Also worth noting is that the transmission fluid, while red and not burnt, has a hint of metal powder in it. Is this linked to the jerking? Does anyone know what causes this? How to diagnose? How to fix? Would replacing the filter and trans fluid help the problem?