Moore Leads Hedge Funds Betting on JPMorgan Before Trade Losses

Bloomberg – Hedge funds Moore Capital Management LLC and Blue Ridge Capital LLC boosted their stakes in JPMorgan Chase & Co., while Kingdon Capital Management LLC divested, before the shares plunged because of a $2 billion trading loss.

Moore, the $15 billion New York-based firm run by Louis Moore Bacon, bought 6 million shares of JPMorgan and its $297.3 million stake was its largest U.S. stock holding as of March 31, according to a filing yesterday with the Securities and Exchange Commission. John Griffin’s New York-based Blue Ridge purchased 1.85 million shares, raising its stake in the bank to 6.14 million.

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