Stocks
PDT Partners Buys into JPMorgan Chase & Co.
PDT Partners LLC made its first purchase of JPMorgan Chase & Co. shares in the second quarter, buying 2,900 shares valued at approximately $949,000.
This acquisition is part of a larger trend of institutional investors increasing their stakes in the financial services company.
Other hedge funds have also recently made changes to their positions in JPMorgan Chase & Co., with some purchasing new stakes and others lifting their existing holdings.
The bank's strong revenue outlook and robust deal pipeline are expected to drive continued growth, with analysts predicting mid-to-high teens year-over-year increases in investment-banking fees and Markets revenue.