Sumitomo Mitsui Trust Group Reduces JPM Stake by 3.3%

Sumitomo Mitsui Trust Group Inc., a Japanese financial services company, has reduced its stake in JPMorgan Chase & Co. by 3.3% during the second quarter. According to its latest Form 13F filing with the Securities and Exchange Commission (SEC), Sumitomo Mitsui Trust Group owned approximately 5,907,580 shares of JPMorgan Chase & Co.'s stock after selling 202,969 shares during this period.

The financial services provider makes up about 1.1% of Sumitomo Mitsui Trust Group's holdings, making it the company's 13th largest holding. The market value of these shares is estimated to be around $1.93 billion as of its most recent filing with the SEC.

This change in stake has been part of a larger trend in JPMorgan Chase & Co.'s ownership structure. As of now, about 71.55% of the stock is owned by hedge funds and other institutional investors.