JP Morgan Chase (JPM) rose over 8% in trading on Wednesday as “the Federal Reserve and five central banks lowered interest rates on dollar swaps and China cut banks’ reserve requirements,” reports Bloomberg. JPM shares closed trading at $28.56 Tuesday and were trading at $30.91 at 3:55pm EST on Wednesday – a difference of $2.34 or 8.21%.
The following hedge funds made the most on the news:
1. Highfields Capital Management – Jonathon Jacobson: Lost $26.8 million
2. Maverick Capital – Lee Ainslie: Lost $25.4 million
3. Viking Global – Andreas Halvorsen: Lost $22.4 million
4. Eton Park Capital – Eric Mindich: Lost $19.8 million
5. First Eagle Investment Management – Jean-Marie Eveillard: Lost $17.4 million
6. Lansdowne Partners – Paul Ruddock And Steve Heinz: Lost $16.8 million
7. Jabre Capital Partners – Philippe Jabre: Lost $14.9 million
8. Adage Capital Management – Phill Gross And Robert Atchinson: Lost $12.1 million
9. Blue Ridge Capital – John Griffin: Lost $11.7 million
10. Renaissance Technologies – Jim Simons: Lost $11.5 million
DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in JPM since the end of June. We did not take into account their option positions.