Bank of America Preferred Stock Gets an Upgrade as Funds Adjust Holdings
On October 18, 2024, Phillip Securities boosted their outlook for Bank of America Corporation – Preferred Stock (NYSE:BAC.PRP) from Neutral to Accumulate.
Current Fund Sentiment Snapshot
Seventeen funds or institutions currently report positions in Bank of America Corporation – Preferred Stock, a number that has remained unchanged over the last quarter. The average portfolio weight dedicated to BAC.PRP across all funds is now 0.31%, reflecting a 4.65% increase. However, over the past three months, total institutional shares owned decreased by 2.00% to 7,048K shares.
PFF – iShares Preferred and Income Securities ETF holds 1,741K shares, down from 1,796K shares in the previous filing, marking a decrease of 3.15%. They also reduced their portfolio allocation in BAC.PRP by 4.13% last quarter.
PGX – Invesco Preferred ETF owns 1,612K shares, a drop of 2.31% from the earlier 1,650K shares. Their portfolio allocation in BAC.PRP decreased by 2.98% during the last quarter.
CPXAX – Cohen & Steers Preferred Securities & Income Fund, Inc. maintains 902K shares with no changes reported.
HBLAX – THE HARTFORD BALANCED INCOME FUND also holds steady at 770K shares, while FSDIX – Fidelity Strategic Dividend & Income Fund maintains its 675K shares without any changes.
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