CIBC World Market Sells 377K Shares of JPMorgan Chase
CIBC World Market Inc., a Canadian investment bank, has reduced its stake in JPMorgan Chase & Co. (JPM) by 14% in the second quarter. According to a recent Form 13F filing with the SEC, CIBC World Market sold 377,093 shares of JPM during this period, leaving it with 2,313,670 shares of the financial services provider's stock.
JPMorgan Chase & Co. makes up about 1.2% of CIBC World Market Inc.'s holdings and is its 16th largest holding. The value of these shares was approximately $757,334,000 as of their most recent filing with the SEC.
This reduction in stake comes amidst other changes to JPMorgan Chase & Co.'s ownership structure. Norges Bank purchased a new stake in JPM worth around $11.4 billion in the fourth quarter, while Bank of America Corp DE increased its stake by 15.8% in the first quarter.