Citigroup Shifts Bank of America Preferred Stock Rating to Buy
On November 8, 2024, Citigroup changed its outlook for Bank of America Corporation – Preferred Stock (NYSE:BML.PRH) from Neutral to Buy.
Fund Sentiment Improves for Bank of America
A total of 18 funds or institutions now report positions in Bank of America Corporation – Preferred Stock, marking a 12.50% increase with 2 new owners in the last quarter. The average portfolio weight for all funds in BML.PRH stands at 0.81%, reflecting a 5.41% rise. Institutional ownership increased by 6.99% over the past three months, bringing total shares to 2,518K.
Atlas Wealth holds 765K shares, a slight decrease of 0.39% from 768K shares reported previously. However, its allocation in BML.PRH was increased by 6.45% last quarter.
PFF – iShares Preferred and Income Securities ETF holds 563K shares, down 8.17% from its previous holding of 609K shares. This firm, however, increased its investment allocation in BML.PRH by 3.37% during the last quarter.
PFFD – Global X U.S. Preferred ETF holds 220K shares, which is a small increase of 1.36% compared to its earlier count of 217K shares. Nevertheless, this firm reduced its portfolio allocation by 1.74% over the last quarter.
PNARX – Spectrum Preferred and Capital Securities Income Fund reports holding 203K shares, up 20.96% from 160K shares. This fund notably increased its allocation in BML.PRH by 22.59% last quarter.
MDIV – Multi-Asset Diversified Income Index Fund currently has 138K shares.
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