Gateway Sells JPMorgan Stake, Insider Unloads Shares
JPMorgan Chase & Co.'s stock is still riding high after its strong earnings report in July. However, not all investors are as bullish on the company.
Gateway Investment Advisers LLC, a major investor in JPMorgan Chase & Co., trimmed its position by 3.9% during the second quarter. This reduction resulted in Gateway owning 557,205 shares of the financial services provider's stock after selling 22,424 shares.
The sale was worth $182,390,000 at the end of the most recent reporting period and accounts for 1.8% of Gateway Investment Advisers LLC's investment portfolio, making JPMorgan Chase & Co. its 9th biggest holding.
In related news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co.'s stock on August 11th for an average price of $361.41. This trade represents a 3.29% decrease in their position and is part of a pre-arranged Rule 10b5-1 trading plan.
The company has also seen increased interest from other investors, with Timmons Wealth Management LLC acquiring a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $27,000.