Investment bank JPMorgan Chase & Co. (NYSE:JPM) has provided an update about its shareholding in CFD broker Plus500 Ltd (LON:PLUS). As of May 15, 2015, the bank held 7,100,879 shares or a 6.18% stake in the broker.
This marks a minor increase when compared to the previous update about JPM’s interest in Plus500. On March 31, 2015, the bank said it had a 5.99% stake in the broker, after selling shares and reducing the shareholding to 6,885,232 shares.
According to the latest update, JPMorgan’s shareholding in Plus500 is distributed across its subsidiaries in the following manner:
- JPMorgan Asset Management Holdings (UK) Limited 6,684,023 shares (5.82%)
- J.P. Morgan Securities plc 416,856 shares (0.36%)
Note, please, that JPMorgan Asset Management Holdings (UK) Limited holds the shares in the capacity of discretionary investment manager for various funds.
Shares in Plus500 saw a steep decline in their price today, as the company keeps suffering from system overload delaying some client actions, such as trading account verification.
Photo credit: Google Finance.