Phillip Securities Boosts Outlook on Bank of America’s Preferred Security
On October 18, 2024, Phillip Securities upgraded their outlook for Bank of America Corporation – Preferred Security (NYSE:BAC.PRS) from Neutral to Accumulate.
Current Fund Sentiment
A total of 17 funds or institutions currently hold positions in Bank of America Corporation – Preferred Security, remaining stable compared to the last quarter. The average portfolio weight for all funds invested in BAC.PRS is now 0.32%, reflecting an increase of 5.49%. However, total shares owned by institutions fell by 2.68% over the past three months, bringing the total to 4,259K shares.
PFF – iShares Preferred and Income Securities ETF reports holding 1,300K shares. This is a decline from the previous 1,346K shares, marking a 3.57% decrease. The firm also reduced its portfolio allocation for BAC.PRS by 5.06% this last quarter.
PGX – Invesco Preferred ETF has 1,118K shares, down from 1,144K shares, representing a 2.31% decrease. The portfolio allocation in BAC.PRS shrank by 1.99% over the last quarter.
CPXAX – Cohen & Steers Preferred Securities & Income Fund, Inc. has maintained its position of 572K shares without any change in the last quarter.
PFFD – Global X U.S. Preferred ETF holds 476K shares, a decline from 490K shares, which is a 2.88% decrease. Additionally, the firm cut its portfolio allocation in BAC.PRS by 2.47% over the last quarter.
PGF – Invesco Financial Preferred ETF holds 319K shares, down from 322K shares, reflecting a decrease of 1.06%. However, the firm increased its portfolio allocation in BAC.PRS by 1.02% over the last quarter.
Fintel stands out as a comprehensive investing research platform that serves individual investors, traders, financial advisors, and small hedge funds.
The platform covers global data, including fundamentals, analyst reports, ownership data, fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and more. Additionally, Fintel offers exclusive stock picks powered by advanced, backtested quantitative models aimed at enhancing profits.
Click to Learn More
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
