Dana Investment Advisors Inc. Sells 22,744 Shares of Bank of America Corporation $BAC

Dana Investment Advisors Inc. reduced its stake in Bank of America Corporation (BAC) by 7.0% in Q3, selling 22,744 shares and holding 302,378 shares valued at $15.6 million. Despite this, institutional ownership remains high at 70.71%, with other major investors increasing their positions, such as Norges Bank initiating a $5.09 billion stake and Arrowstreet Capital boosting its holdings by 124.8%. Bank of America is strategically focusing on higher-return businesses, including $25 billion in private-credit deals and Merrill launching a Direct Markets Group, holding a “Moderate Buy” consensus analyst rating with an average target price near $60.30.

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