Dimon Dumps $233M in JPMorgan Stock Amid Record Highs

JPMorgan Chase CEO Jamie Dimon has sold a significant portion of his company's stock, according to recent SEC filings. On Thursday, Dimon sold a total of 866,361 shares at a price of $269.83, amounting to a staggering $233.77 million. The sale was attributed to various entities, including his family, GRATs, LLCs, and his spouse.

The sale occurred on February 20th, as shares of JPMorgan Chase (JPM) dipped from record highs around $278 to $266. This transaction marks Dimon's second major stock sale since becoming CEO in 2005. Last year, he sold a combined $182 million in JPMorgan Chase stock in February and April.

Although Dimon has not publicly commented on the sales, a company filing stated that they are part of a predetermined plan for "financial diversification and tax-planning purposes." The filing also noted that Dimon "continues to believe the company's prospects are very strong and his stake in the company will remain very significant."

Shares of JPMorgan Chase (JPM) have surged 44% in the last year, driven by a resilient economy and record-breaking earnings. The bank's stock has reached all-time highs, reflecting investors' confidence in the company's performance.