JPMorgan takes its stake in Plus500 back down to 5.19%

Plus500 Ltd (LON:PLUS), the CFD broker famous for its efficient marketing and robust financial metrics, today published an announcement on some changes in shareholdings.

According to the announcement, JPMorgan Chase & Co. (NYSE:JPM) sold 3,024,198 shares in the broker on February 19, 2015. This leaves the investment bank with 5,957,023 shares in Plus500, which is equal to a stake of 5.19%.

The shares are now distributed in the following manner:

  • JPMorgan Asset Management Holdings (UK) Limited – 5,196,617 shares (4.52%)
  • J.P. Morgan Securities plc – 760,406 shares (0.66%).

As usual, we have to mention that such transactions are often executed for JP Morgan’s clients, with the investment bank being indeed neutral.

JPMorgan has been very active in relation to Plus500 stock over the past year or so. In the summer of 2014, the investment house took its stake in the broker to 15%, but then offloaded shares several times. Looking at the most recent set of deals, we see that on December 9, 2014, JPM cut its stake in Plus500 to just under 5%. Ten days after that, the stake was boosted to 7.82%. Now the stake reduced again, as it stands at 5.19%.

JPMorgan is not the single investment expert showing interest in Plus500. Newton Investment Management increased its holding in Plus500 to 5.12% on January 27, 2015. Then, there is of course the recent move by Deutsche Bank which as of January 29, 2015 holds a 5.38% stake in the broker.

The official announcement on the latest transaction of Plus500 shares can be found here.

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