Phillip Securities Boosts Rating for Bank of America Preferred Stock
On October 18, 2024, Phillip Securities upgraded their rating for Bank of America Corporation – Preferred Stock (NYSE:BML.PRL) from Neutral to Accumulate.
Fund Sentiment Shows Positive Shift
Currently, 14 funds and institutions have positions in Bank of America Corporation – Preferred Stock, marking a rise of 2 owners or 16.67% compared to the previous quarter. The average portfolio weight of all funds invested in BML.PRL is 0.40%, reflecting a 9.02% increase. Total shares held by these institutions rose by 6.91% in the last three months, reaching 1,790K shares.
The PFF – iShares Preferred and Income Securities ETF owns 801K shares, down from 851K shares in their previous filing, indicating a decrease of 6.30%. This firm also reduced its portfolio allocation in BML.PRL by 1.05% over the last quarter.
PFFD – Global X U.S. Preferred ETF has 296K shares, down from 304K shares, a decrease of 2.78%. However, they increased their portfolio allocation in BML.PRL by 3.42% during the same period.
PFFV – Global X Variable Rate Preferred ETF holds 171K shares, which is lower than the 176K shares reported previously, showing a decrease of 2.87%. Their portfolio allocation in BML.PRL decreased by 0.69% over the last quarter.
MDIV – Multi-Asset Diversified Income Index Fund owns 134K shares.
Finally, the VRP – Invesco Variable Rate Preferred ETF holds 128K shares, an increase from 120K shares in the prior filing, which represents a rise of 6.47%. Despite this, they decreased their portfolio allocation in BML.PRL by 0.30% over the last quarter.
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