DJ JPMorgan Stock Is Slumping. 'Star Wars' Creator George Lucas Scooped Up More Shares. -- Barrons.com

By Ed Lin

As the new year got under way, Star Wars creator George Lucas increased his investment in JPMorgan Chase stock.

JPMorgan stock (ticker: JPM) had a strong showing in 2019. Shares of the bank soared 42.8% last year, topping the 28.9% rise in the S&P 500. Lucas paid a total of $6 million in 2019 for 52,200 JPMorgan shares. He made the purchases through the GWL Living Trust, of which Lucas is the "sole trustee and beneficiary," as noted in Securities and Exchange Commission records.

But JPMorgan stock has slipped so far in 2020, and shares are down 1.8% through Tuesday's close, compared with a 2.8% rise in the S&P 500.

Lucas' trust paid $2 million on Jan. 15 for 14,600 JPMorgan shares, an average per-share price of $136.39, according to a form filed with the SEC. That price is about 2.2% less than where JPMorgan stock was at the end of 2019. The trust now owns 124,155 shares of the bank.

Lucas is obligated to report his transactions in JPMorgan stock because his wife Mellody Hobson is a director of the bank. He didn't respond to a request for comment made through the George Lucas Educational Foundation.

Inside Scoop is a regular Barron's feature covering stock transactions by corporate executives and board members -- so-called insiders -- as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.

Write to Ed Lin at edward.lin@barrons.com and follow @BarronsEdLin.

(END) Dow Jones Newswires

January 22, 2020 06:59 ET (11:59 GMT)

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