JPMorgan buys additional Bear Stearns shares in open market

In a Form 4 filed with the SEC Thursday, JPMorgan reported buying the shares on Tuesday for $10.24 apiece. Including call options and stock acquired as part of a share exchange transaction with Bear Stearns last week, JPMorgan now owns 120.1 million shares, or a 49.9 percent stake based on 240.8 million Bear Stearns shares outstanding as of April 14.

Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.

JPMorgan has been steadily increasing its stake in Bear Stearns since agreeing to buy the troubled bank last month for $10 per share.

Under an amendment to the deal, Bear Stearns agreed to swap a 39.5 percent stake in itself, or 95 million shares, for JPMorgan stock. That transaction closed last week.

JPMorgan shares rose 16 cents to close at $45.12. Bear Stearns shares slipped 1 cent to end regular trading at $10.15. Shares rose 13 cents to $10.28 after hours.