Is There Anybody Not Buying BofA (BAC) Stock?
More News related to BAC
- Blockbuster to Present at the Bank of America Merrill Lynch Credit Conference
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- Bank of America Program Helps 100,000 Subprime, Option-ARM Borrowers Avoid Foreclosure in First 10 Months of Outreach
- Bank of America's Ken Lewis Is Offering to Stay
- Active equity option families in first 30 minutes of trading according to Track Data are: C BAC GE AAPL.
It seems buying shares of embattled mega-bank Bank of America (NYSE: BAC) is all the rage lately. Is there anyone out there not buying it?
Last night, hedge fund big John Paulson disclosed he is now the proud owner of 167,990,464 BofA shares, new President of Wealth Management Sallie Krawcheck bought 63,000 shares yesterday, and the mad man Jim Cramer has been buying too. In addition, many large mutual funds have been adding to their positions recently: State Street, Barclays, Vanguard, Fidelity, T Row Price, TIAA CREF. Another hedge fund heavy, Dan Loeb, is also a big BofA holder.
Shares of BofA are up 5% today and 560% from the year lows. Even with the dramatic rise, Cramer thinks BofA can climb to $25 per share ($16.78 currently).
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BUY BUY BUY
Brandon R. Sabbag on Aug 13, 2009 03:06 PMI've been buying BAC since $8.... I now own 10,000 shares at a 10.80 base price.