The New York-based JPMorgan Chase & Co’s (NYSE:JPM) exchange- traded note linked with the oil assets traded at a record premium over its underlying index after the bank limited shares of the protection.
The JPMorgan Alerian MLP Index ETN, under the ticker AMJ, finished 2.7% more than its underlying index on June 29 and marked the record high level since its inception in April 2009, as mentioned in the data gathered by Bloomberg.
JPMorgan Chase’s ETN, the biggest in the United States at $5 billion in market capitalization, traded at a 5.3% premium at 1:48 PM in New York, before retreating to 2.5% at 3:50 PM.
JPMorgan limited share creation to 129 million on June 14, a threshold reached six days later, boosting fear that the note could become unbalanced from its linked index, as occurred in March with an ETN issued by Credit Suisse AG.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Citigroup Inc (NYSE:C) surged +0.18% to settle at $27.46, Goldman Sachs Group, Inc. (NYSE:GS) moved up +1.32% to end at $97.13 while KeyCorp (NYSE:KEY) decreased -0.26% to finish on Monday at $7.72.
JPMorgan Chase & Co (NYSE:JPM) on July 02, 2012 it increased +1.54% to the closing price of $36.28. The overall volume in the last trading session was 34.28 million shares. Its fifty two week range was $27.85-$46.49. The total market capitalization remained $138.11 billion.
JPM is ahead its 52 week low with +32.06% and lagging behind from its 52 week high price with -21.45%. JPM last month stock price volatility remained 3.20%. In its share capital JPM has 3.81 billion outstanding shares among them 3.79 billion shares have been floated in market exchange. JPM stock institutional ownership remained 74.67% while insider ownership included 0.17%.
The stock price of JPM is moving forward from its 20 days moving average with +5.08% and remote negatively from 50 days moving average with -1.45%. JPM current year earnings per share experienced an addition with +13.05% while its current quarter performance remained -20.84%. Company’s beta coefficient included 1.33. Beta factors measures the amount of market risk associated with market trade.
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