Rochester,NY 6/26/2009 8:29:36 PM
BAC,Preferred-Stock ETFs Shine
Bank of America Corporation
Pre Market - BAC - Preferred-Stock ETFs Shine - Sourced WhisperFromWallStreet.com
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Bank of America Corporation,BAC
After Hours: 12.35 0.00 (0.00%) 8:56am ET
Preferred stocks are a combination of debt and equity instruments that have become popular in the ETF world in the past year. As nationalization fears have eased, reducing the volatility in these funds, investors have sought out preferred ETFs as an inexpensive way to access the preferred marketplace.
PowerShares currently offers three preferred funds, PowerShares Financial Preferred Portfolio(PGF Quote), iShares S&P U.S. Preferred Stock Index ETF(PFF Quote) and PowerShares Preferred Portfolio(PGX Quote).
All three funds are in positive territory year to date, with PGF leading the pack with a 13.74 return for that period. All three funds have high trading volumes, with PGF taking the top spot with a three-month average daily trading volume of 1.3 million shares.
About
Bank of America Corporation, a financial holding company, provides a range of banking and nonbanking financial services and products in the United States and internationally. Its Global Consumer and Small Business Banking segment offers savings accounts, money market savings accounts, certificate of deposits, individual retirement accounts, and checking accounts; U.S. Consumer and Business Card, unsecured lending, and international card; consumer real estate products, including mortgage products for home purchase and refinancing, reverse mortgage products, and home equity products; and insurance services. The company?s Global Corporate and Investment Banking segment provides commercial and corporate bank loans, indirect consumer loans, real estate lending products, and leasing and asset-based lending products for banking clients, middle market commercial clients, multinational corporate clients, public and private developers, homebuilders, and commercial real estate firms; advisory services, financing, and related products for institutional investor clients in support of their investing and trading activities; debt and equity underwriting, merger-related advisory services, and risk management solutions
Last Trade: 12.35
Day's Range: N/A - N/A
52wk Range: 2.53 - 39.50
Volume: 2,040,505
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