Bank of America Corporation (NYSE:BAC) has seen a rise of 1,517,256 shares or 2% in the short interest. The remaining shorts are 0.8% of the total floated shares. The net short interest, as on June 15,2016, stood at 77,787,377 shares and the stocks days to cover will be 1 by factoring in the average per day volume of 82,605,341 shares. On May 31,2016, 76,270,121 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Bank of America Corporation (NYSE:BAC): The stock opened at $13.05 on Friday but the bulls could not build on the opening and the stock topped out at $13.44 for the day. The stock traded down to $12.97 during the day, due to lack of any buying support eventually closed down at $13.00 with a loss of -7.41% for the day. The stock had closed at $14.04 on the previous day. The total traded volume was 231,499,190 shares.
The company shares have dropped -23.03% from its 1 Year high price. On Jul 22, 2015, the shares registered one year high at $18.48 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $14.14 and the 200 Day Moving Average price is recorded at $14.22.
Bank of America Corporation (NYSE:BAC) has tumbled 2.99% during the past week and has dropped 12.63% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 1.38%. Bank of America Corporation (NYSE:BAC) has underperformed the index by 9.99% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers, small- and middle-market businesses, institutional investors, corporations and Governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking and various nonbank subsidiaries, it provides a range of banking and nonbank financial services and products. It operates in five segments: Consumer & Business Banking, which offers a range of credit, banking and investment products and services to consumers and businesses; Consumer Real Estate Services, which provides a line of consumer real estate products and services; Global Wealth & Investment Management, which provides wealth management solutions; Global Banking, which provides a range of lending-related products and services, and Global Markets, which offers sales and trading services.