JPMorgan Chase CEO Jamie Dimon is boosting his stake in the bank by 360,000 shares.

A regulatory filing Friday says Dimon spent about $12.3 million to buy the shares on Thursday and Friday. The average price was $34.14.

JPMorgan shares fell 56 cents Friday to close at $33.90. JPMorgan shares have been hammered because of a multibillion-dollar loss by the bank’s traders this spring.

The loss was first described in news reports April 5. Since then, JPMorgan shares have lost one-fourth of their value.

The purchases boost Dimon’s direct personal stake in JPMorgan by 12 percent, to 3.2 million shares from 2.9 million shares.

He has the second-biggest individual stake in the bank. The filing says Dimon’s wife and companies that he controls bought an additional 140,000 shares.

Source: WashingtonPost