At present, there are a multitude of tools for JPMorgan Chase & Co. (NYSE:JPM) readers to watch, but it’s smart to be aware of a stock’s short interest. A couple metrics we can use are: (a) the fraction of a stock’s shares that bears are currently short selling, in addition to (b) the difference in short interest.
Heightened short selling typically indicates what you’d think: the Street has become less bullish on a company. Short selling that’s too high, though, sometimes has a bullish effect on share price, as short-ers can be forced to buy their shares.
Within Insider Monkey, it’s not a secret that we pay attention to hedgies’ sentiment, but it’s also beneficial to group this information with aggregate short sale information. In some high-profile cases, large investors might indicate that they’re bearish on a certain stock, but it isn’t an SEC requirement. Nevertheless, many individual investors might want to stay away from heavily shorted stocks with elevated hedgie support, while others might prefer short-squeeze opportunities. For investors searching for a proven piggybacking strategy, discover the details of our premium strategy.
Let’s take a glance at the recent info surrounding JPMorgan Chase & Co. (NYSE:JPM).
Analyzing the latest FINRA short interest data, which is reported twice monthly, we can see that JPMorgan Chase & Co. (NYSE:JPM) has a short interest of 1.20% of float. This is a -4.3% change from the prior filing. With a total float of 3.77B shares, this is a short ratio of 2.00.
It’s also important to take note of hedge fund sentiment from their 13F filings. Of the funds we track, Paul Ruddock and Steve Heinz’s Lansdowne Partners had the biggest position in JPMorgan Chase & Co. (NYSE:JPM), worth close to $854.1 million, comprising 11.7% of its total 13F portfolio. In the second spot is Ken Fisher of Fisher Asset Management, with a $616.7 million position; 1.6% of its 13F portfolio is allocated to the stock. Remaining hedge funds that hold long positions include Phill Gross and Robert Atchinson’s Adage Capital Management, Richard S. Pzena’s Pzena Investment Management and Ric Dillon’s Diamond Hill Capital.
Also, insider trading activity, especially when it’s bullish, is at its handiest when the company we’re looking at has seen transactions within the past half-year. Over the latest half-year time frame, JPMorgan Chase & Co. (NYSE:JPM) has seen 2 unique insiders purchasing, and 7 insider sales (see the details of insider trades here).
Let’s go over activity in other stocks similar to JPMorgan Chase & Co. (NYSE:JPM). These stocks are Toronto-Dominion Bank (USA) (NYSE:TD), Mitsubishi UFJ Financial Group Inc (ADR) (NYSE:MTU), Bank of America Corp (NYSE:BAC), Citigroup Inc. (NYSE:C), and Wells Fargo & Co (NYSE:WFC). This group of stocks are the members of the money center banks industry and their market caps are closest to JPM’s market cap.