JPMorgan Chase and Bank of America’s top executives, Jamie Dimon and Brian Moynihan respectively, have been selling off significant chunks of their company stock. In just four months, they’ve offloaded a combined $268.63 million worth of shares.
Dimon’s Big Moves
JPMorgan Chase CEO Jamie Dimon made headlines in April, selling over $31.5 million in shares. This follows a much larger sale in February, where he sold nearly $234 million worth of stock. This was Dimon’s first-ever sale of JPMorgan Chase stock since becoming CEO in 2005. In total, he’s sold over $448 million worth of shares in the last 14 months.
Moynihan’s Regular Sales
Bank of America CEO Brian Moynihan, on the other hand, has been regularly selling shares since July 2022. His recent sales include $679,717 in April, and similar amounts in the preceding months.
What Does It Mean?
While these sales represent a huge amount of money, it’s important to remember that we don’t know the reasons behind these decisions. It’s impossible to say for certain whether this signals concern about the future of the banks or is simply part of a broader financial strategy. Investors should always do their own research before making any investment decisions.