Rosenstein's JANA Partners Shows New 3.6M Share Stake In BofA (BAC)

Barry Rosenstein's JANA Partners LLC hedge fund is the latest to show a large stake in Bank of America (NYSE: BAC). In its latest quarterly 13F (6/31/09) disclosed after the close, JANA showed a new 3,648,100 share stake in BofA.

Yesterday, 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.

We are hearing a lot of the hedge funds got their common stock position by converting preferred shares to common at $10.

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