JPMorgan CEO Dimon buys 360k shares
NEW YORK (AP) - JPMorgan Chase CEO Jamie Dimon is boosting his stake in the bank by 360,000 shares.
A regulatory filing Friday says Dimon spent about $12.3 million to buy the shares on Thursday and Friday. The average price was $34.14. JPMorgan shares fell 56 cents Friday to close at $33.90.
JPMorgan shares have been hammered because of a multibillion-dollar loss by the bank's traders this spring. The loss was first described in news reports April 5. Since then, JPMorgan shares have lost one-fourth of their value.
The purchases boost Dimon's direct personal stake in JPMorgan by 12 percent, to 3.2 million shares from 2.9 million shares. He has the second-biggest individual stake in the bank.
The filing says Dimon's wife and companies that he controls bought an additional 140,000 shares.
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