14 Best 52-Week High Stocks to Buy According to Short Sellers

7. JPMorgan Chase & Co (NYSE:JPM)

52 Week Range: $135.19 -$222.21

Current Share Price: $221.29

Short interest rate: 0.89%

Number of Hedge Fund Holders: 111

JPMorgan Chase & Co. (NYSE:JPM) is a financial services company that offers deposit investment and lending products. It also offers securities services, including custody, fund accounting and administration, and securities lending products for asset managers.

JPMorgan Chase & Co. (NYSE:JPM) is one of the best 52-week high stocks to buy, according to short sellers as one of the biggest banks with assets worth over $4 trillion. With operations in over 60 countries, it is one of the most diversified investment plays in the financial sector.

The financial services giant delivered solid second-quarter results, with revenues increasing 20% to $51 billion and net income up 25% to $18.1 billion. JPMorgan generated $2.3 billion in investment banking fees, as equities trading revenue jumped 21% to $3 billion on solid derivatives results. Fixed income trading jumped 5% to $4.8 billion, matching the estimate.

JPMorgan Chase & Co. (NYSE:JPM) is a solid financial institution that has significantly grown its investment banking division and consumer banking activities. Additionally, CEO and Chairman Jamie Dimon is managing a successful operation, achieving a substantial return on equity and return on assets. Its return on equity stood at 23% in the second quarter, while return on average tangible common shareholders’ equity (ROTCE) came in at 28%.

While rewarding shareholders with a dividend of $1.15 a share, it offers a dividend yield of 2.14%, which is much higher than the average yield of 1.58% for the S&P 500. Its annualized dividend of $4.60 is up by 13.6% for the year, affirming the company’s commitment to returning value to shareholders.

In the second quarter of 2024, JPMorgan Chase & Co. (NYSE:JPM) saw decreased interest from hedge funds, with 111 funds holding stakes, down from 112 in the previous quarter, according to Insider Monkey’s database. The total value of these stakes exceeds $6.98 billion.