JPMorgan Chase CEO Jamie Dimon has increased his shareholding in the bank to 12 percent, according to documents the company filed with the U.S. Securities and Exchange Commission.
The SEC filing shows that Dimon boosted his stake in the bank by 360,000 shares by purchasing 110,000 common shares at about $34.43 per share on Thursday and another 250,000 shares at $34.02 a share on Friday.
The $34.14 average price purchases boost Dimon’s direct personal stake in JPMorgan (JPM), the biggest U.S. bank by assets, by 12 percent, to 3.2 million shares from 2.9 million shares, making him the second individual with the largest stake in the New York-based bank.
Dimon and his wife now directly or indirectly hold more than 5.6 million shares of the bank, according to the filing.
The holdings are worth about $190 million, based on J.P. Morgan’s Friday PPS of $33.90.
JPM shares reached a 52-wk intraday high of $46.49 on March 27. The stock has lost 20% of its value since the company announced May 10 that it lost billions on a bad credit-derivatives trade.
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He increased his stake by 12%, not to 12%, the headline is WRONG!