As Jpmorgan Chase (JPM) Stock Value Declined, Connors Investor Services Has Lifted Its Position by $667,189; Rivernorth Capital Management Cut Stake in Mfs Charter Income Tr (MCR) by $334,024

June 18, 2018 - By Linda Rogers

JPMorgan Chase & Co. (NYSE:JPM) Logo

Connors Investor Services Inc increased its stake in Jpmorgan Chase (JPM) by 4.85% based on its latest 2018Q1 regulatory filing with the SEC. Connors Investor Services Inc bought 6,121 shares as the company’s stock declined 6.83% with the market. The institutional investor held 132,239 shares of the major banks company at the end of 2018Q1, valued at $14.54 million, up from 126,118 at the end of the previous reported quarter. Connors Investor Services Inc who had been investing in Jpmorgan Chase for a number of months, seems to be bullish on the $367.33B market cap company. The stock decreased 0.12% or $0.13 during the last trading session, reaching $107.9. About 26.03M shares traded or 76.80% up from the average. JPMorgan Chase & Co. (NYSE:JPM) has risen 29.65% since June 18, 2017 and is uptrending. It has outperformed by 17.08% the S&P500. Some Historical JPM News: 06/05/2018 – JPMorgan’s Anderson Says Dollar Should Be Lower Than It Is (Video); 06/03/2018 – JPMORGAN HEAD OF RUSSIA RESEARCH KANTAROVICH SAID TO LEAVE BANK; 04/04/2018 – JPM SIGNS CONTRACT TO IMPLEMENT BLACK KNIGHT’S LOANSPHERE; 15/05/2018 – Sprint Presenting at JPMorgan Conference Tomorrow; 03/05/2018 – Fitch Rates J.P. Morgan PUTTERs/DRIVERs Series 5018 Trust; 14/05/2018 – Dolby Labs Presenting at JPMorgan Conference Tomorrow; 08/03/2018 – RPT-EXCLUSIVE-Five banks open up trillion dollar gold club; 16/05/2018 – Funko Presenting at JPMorgan Conference Tomorrow; 23/04/2018 – JPMorgan Global Monetary Policy Forecasts as of April 20 (Table); 29/05/2018 – U.S. Expansion Still ‘Pressing on the Gas,’ Says JPM’s Lester (Video)

Rivernorth Capital Management Llc decreased its stake in Mfs Charter Income Tr (MCR) by 5.32% based on its latest 2018Q1 regulatory filing with the SEC. Rivernorth Capital Management Llc sold 41,753 shares as the company’s stock declined 2.10% with the market. The institutional investor held 743,051 shares of the company at the end of 2018Q1, valued at $6.03 million, down from 784,804 at the end of the previous reported quarter. Rivernorth Capital Management Llc who had been investing in Mfs Charter Income Tr for a number of months, seems to be less bullish one the $393.54 million market cap company. It closed at $7.9 lastly. It is down 5.87% since June 18, 2017 and is downtrending. It has underperformed by 18.44% the S&P500.

Connors Investor Services Inc, which manages about $522.13 million and $681.17 million US Long portfolio, decreased its stake in Ishares Russell 2000 Index (IWM) by 2,100 shares to 146,620 shares, valued at $22.26 million in 2018Q1, according to the filing. It also reduced its holding in Spdr S & P 500 Index (SPY) by 8,035 shares in the quarter, leaving it with 232,060 shares, and cut its stake in Bofi Holding Inc (NASDAQ:BOFI).

More important recent JPMorgan Chase & Co. (NYSE:JPM) news were published by: Thestreet.com which released: “5 Reasons Why JPMorgan Will Be a Monster Trade” on May 30, 2018, also Seekingalpha.com published article titled: “What’s Going On With JPMorgan?”, Seekingalpha.com published: “JPMorgan (JPM) Management Presents at Morgan Stanley Financials Conference (Transcript)” on June 13, 2018. More interesting news about JPMorgan Chase & Co. (NYSE:JPM) was released by: Benzinga.com and their article: “A Concerning Weakness In Bank Stocks” with publication date: June 16, 2018.

Among 34 analysts covering JPMorgan Chase & Co (NYSE:JPM), 18 have Buy rating, 2 Sell and 14 Hold. Therefore 53% are positive. JPMorgan Chase & Co had 120 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of JPMorgan Chase & Co. (NYSE:JPM) has “Hold” rating given on Tuesday, January 2 by Robert W. Baird. As per Wednesday, August 23, the company rating was maintained by BMO Capital Markets. The stock of JPMorgan Chase & Co. (NYSE:JPM) has “Neutral” rating given on Wednesday, February 24 by Nomura. Nomura maintained the stock with “Neutral” rating in Wednesday, February 28 report. As per Friday, July 14, the company rating was maintained by Oppenheimer. The company was upgraded on Monday, August 17 by Bruyette & Woods”. The firm has “Hold” rating by Keefe Bruyette & Woods given on Friday, August 18. Credit Suisse upgraded the stock to “Buy” rating in Thursday, January 4 report. The firm earned “Strong-Buy” rating on Friday, August 28 by Vetr. The stock has “Buy” rating by Keefe Bruyette & Woods on Tuesday, February 13.

Since January 13, 2018, it had 3 insider buys, and 8 sales for $18.63 million activity. Friedman Stacey also sold $1.99 million worth of JPMorgan Chase & Co. (NYSE:JPM) shares. BACON ASHLEY also sold $1.84 million worth of JPMorgan Chase & Co. (NYSE:JPM) on Saturday, January 13. On Saturday, January 13 Erdoes Mary E. sold $7.31M worth of JPMorgan Chase & Co. (NYSE:JPM) or 65,101 shares. $3.01 million worth of stock was sold by Scher Peter on Friday, January 19. $1.49 million worth of stock was bought by Combs Todd A. on Monday, May 14. On Monday, April 16 HOBSON MELLODY L bought $2.00 million worth of JPMorgan Chase & Co. (NYSE:JPM) or 18,000 shares.

Investors sentiment decreased to 0.81 in Q1 2018. Its down 0.07, from 0.88 in 2017Q4. It fall, as 52 investors sold JPM shares while 843 reduced holdings. 132 funds opened positions while 596 raised stakes. 2.39 billion shares or 2.61% less from 2.46 billion shares in 2017Q4 were reported. Prudential Public Limited Company, a Illinois-based fund reported 6.99M shares. Vnbtrust National Association invested 0.19% in JPMorgan Chase & Co. (NYSE:JPM). Fisher Asset Mngmt Lc has invested 0.69% of its portfolio in JPMorgan Chase & Co. (NYSE:JPM). Westfield Capital Mngmt Ltd Partnership owns 67,890 shares or 0.06% of their US portfolio. Weatherly Asset Mngmt Lp has invested 0.38% in JPMorgan Chase & Co. (NYSE:JPM). Arizona State Retirement System holds 1.03% or 925,273 shares in its portfolio. Texas Yale Cap Corp reported 127,882 shares. Regal Advsrs Llc accumulated 0.27% or 11,219 shares. Eads Heald Inv Counsel, Georgia-based fund reported 22,119 shares. Renaissance Limited Com holds 3,395 shares or 0.15% of its portfolio. Acropolis Inv Mngmt Ltd Liability Corporation reported 13,738 shares. The Pennsylvania-based Stoneridge Prns Limited Liability Company has invested 2.23% in JPMorgan Chase & Co. (NYSE:JPM). New York-based Carret Asset Limited Liability Company has invested 3.37% in JPMorgan Chase & Co. (NYSE:JPM). Cambiar Invsts Ltd Company owns 4,090 shares. Davis Selected Advisers has 12.14M shares.

Rivernorth Capital Management Llc, which manages about $2.15 billion and $1.35 billion US Long portfolio, upped its stake in Nuveen Int Dur Qual Mun Trm (NIQ) by 46,152 shares to 438,324 shares, valued at $5.51 million in 2018Q1, according to the filing. It also increased its holding in Reaves Util Income Fd (UTG) by 171,635 shares in the quarter, for a total of 495,542 shares, and has risen its stake in Blackrock Corpor Hi Yld Fd I (HYT).

Another recent and important MFS Charter Income Trust (NYSE:MCR) news was published by Businesswire.com which published an article titled: “MFS Releases Closed-End Fund Income Distribution Sources for Certain Funds” on May 21, 2018.

JPMorgan Chase & Co. (NYSE:JPM) Institutional Positions Chart

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