Danica Pension Cuts Stake in JPMorgan Chase

Danica Pension Livsforsikringsaktieselskab reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 12.8% during the second quarter, according to a recent SEC filing.

The firm owned 227,154 shares of the financial services provider's stock after selling 33,203 shares during the quarter. The sales are dated and appear unlikely to be a major fundamental driver, but they add modest selling-pressure sentiment.

JPMorgan Chase & Co. accounts for 1.2% of Danica Pension Livsforsikringsaktieselskab's holdings, making the stock its 19th largest holding. The company's shares were worth $74,354,000 as of its most recent SEC filing.

The move is part of a broader trend in which several institutional investors have modified their holdings in JPMorgan Chase & Co. during the second quarter.