Bank of America Corp (NYSE: BAC)’s common stock traded at a new 52 week low during trading on Tuesday, hitting as low as $12.59 during mid-day trading.
According to data from the New York Stock Exchange, 150.7 million shares were traded yesterday, up slightly from its 30-day moving average of volume of 147.5 million shares. Bank of America Corp (NYSE: BAC)’s stock closed at $12.64 on Wednesday, down approximately 12.3% from its 50-day moving average of $14.41.
Shares of Bank of America Corp (NYSE: BAC) slid down even further, by 1.42% hitting $12.46 during mid-day trading on Wednesday.
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, large corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking subsidiaries (the Banks) and various nonbanking subsidiaries throughout the United States and in selected international markets, it provides a range of banking and nonbanking financial services and products through six business segments: Deposits, Global Card Services, Home Loans & Insurance, Global Banking, Global Markets, Global Wealth & Investment Management (GWIM), with the remaining operations recorded in All Other. On January 1, 2009, the Company completed the acquisition of Merrill Lynch.
