Phillip Securities Boosts Bank of America Preferred Stock Rating
On October 18, 2024, Phillip Securities changed its rating for Bank of America Corporation – Preferred Stock (NYSE:BML.PRJ) from Neutral to Accumulate.
Current Fund Ownership Trends
Currently, 13 funds or institutions hold positions in Bank of America Corporation – Preferred Stock. This marks an increase of one owner, or 8.33%, from the previous quarter. The average portfolio weight of all funds invested in BML.PRJ has risen to 0.19%, which is an increase of 3.80%. However, total shares owned by these institutions have decreased by 2.66% over the past three months, totaling 1,091K shares.
The PFF – iShares Preferred and Income Securities ETF currently holds 388K shares, down from 428K, showing a decrease of 10.40%. Its allocation to BML.PRJ has also dropped by 4.54% over the last quarter.
Pnc Financial Services Group maintains 227K shares, slightly down from the previous 228K, reflecting a decrease of 0.15%. Notably, their portfolio allocation in BML.PRJ has decreased significantly by 83.52% over the last quarter.
The PFFD – Global X U.S. Preferred ETF has increased its holdings to 144K shares from 141K, indicating a growth of 2.19% and a 9.23% increase in their portfolio allocation for BML.PRJ in the last quarter.
Meanwhile, PFFV – Global X Variable Rate Preferred ETF holds 85K shares, down slightly from 87K, representing a decrease of 2.59%. However, they boosted their portfolio allocation by 0.08% in the last quarter.
Finally, the VRP – Invesco Variable Rate Preferred ETF has increased its holdings to 64K shares, a rise from 60K, showing an increase of 6.46% while also raising their portfolio allocation for BML.PRJ by 0.19% last quarter.
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