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Screenshot of a breaking news alert e-mail from Q2 2017
Interest by investment banks into Plus500 Ltd (LON:PLUS) is not losing its force, as Deutsche Bank AG (FRA:DBK) has just raised its shareholding in the Forex and CFD broker.
According to data released on Friday, the investment bank bought 2,124,445 shares in the broker on February 18, 2015. This way, the total number of shares Deutsche Bank now owns in Plus500 is 8,308,420, which equals a 7.23% stake in the brokerage.
The transaction follows an earlier deal by Deutsche Bank, conducted on January 29, 2015, which saw it acquire a 5.4% stake in Plus500. Obviously, the CFD broker keeps its allure for investment houses.
That is an interesting move to see from Deutsche Bank, as its shareholding (or the shareholding of its clients) in Plus500 Ltd now exceeds that of JPMorgan Chase & Co.(NYSE:JPM). On February 19, 2015, JPM sold 3,024,198 shares in the broker, hence reducing its stake to 5.19%.
Shares in Plus500 traded in the range 562p – 587.88p on Friday.
Photo credit: Google Finance.
The official announcement on Deutsche Bank raising its stake in Plus500 can be found here.