JPMorgan Bought More MicroStrategy Before MSCI Exit, Plus Insurance Against a Drop

JPMorgan held 36% more MicroStrategy shares at the end of September, weeks before MSCI announced it would drop the stock. It also held 60% more put options, which work like insurance if the share price drops. The bank’s own analysts had estimated that losing the index spot could force index funds to sell about $2.8 billion of the stock. More Shares, and More Insurance Against a Drop The numbers come from JPMorgan’s 13F , a quarterly holdings report large US money managers file with regulators. It landed Thursday. MicroStrategy, now called Strategy (MSTR), is the biggest corporate holder of Bitcoin (BTC). On Sept. 30, JPMorgan held 848,932 of its shares, worth $131.3 million. In June , it held 624,387.

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