Vega Cuts JPMorgan Stake Amid Optimistic Outlook
Vega Investment Solutions has reduced its stake in JPMorgan Chase & Co. by 51.7% during the second quarter, according to a recent disclosure with the Securities and Exchange Commission.
The institutional investor now owns 6,597 shares of the financial services provider's stock after selling 7,057 shares during the period.
This move comes as other hedge funds have also adjusted their stakes in JPMorgan Chase & Co. McDonough Capital Management Inc. raised its holdings by 6.5% in the second quarter, while Stillwater Private Wealth LLC and Twin Peaks Wealth Advisors LLC increased their positions by 4.2% and 8.3%, respectively.
JPMorgan Chase & Co.'s stock price has been affected by various factors, including a strong third-quarter revenue outlook and higher interest rates that may support lending revenue.