Vanguard Group Inc. reduced its stake in Bank of America (NYSE:BAC) by 1.8% in the third quarter, selling over 11 million shares but still retaining a significant holding worth approximately $32.4 billion. While Bank of America’s stock performance has been muted despite beating EPS estimates and announcing a dividend, institutional investors collectively own 70.71% of the company. However, rising regulatory risks and potential legal issues, alongside large-holder movements, could impact future returns.
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Bank of America Corporation $BAC Shares Sold by Vanguard Group Inc.
Vanguard Group Inc. reduced its stake in Bank of America (NYSE:BAC) by 1.8% in the third quarter, selling over 11 million shares but still retaining a significant holding worth approximately $32.4 billion. While Bank of America’s stock performance has been muted despite beating EPS estimates and announcing a dividend, institutional investors collectively own 70.71% of the company. However, rising regulatory risks and potential legal issues, alongside large-holder movements, could impact future returns.