Over 112 million Bank of America shares traded on the New York Stock Exchange on Monday making it the most popular stock of the mortgage index observed by National Mortgage News.
The average stock price was $14.49, marking a 0.55% decline compared to last week.
According to IAE Research analysts, renewed interest in Bank of America shares reflects the company’s “impressive recovery since the financial meltdown of 2008” and the fact that it is set to grow as it takes full advantage of overall performance improvements.
“The stock has gained over 78% during the past 12 months, and is the top performer in the financial services industry,” they wrote in a report.
The same as
Dime Community shares traded at 1.49%, the highest price drop of all the stocks included in the index.
At least seven stocks, however, saw minor gains of no higher than 1% with MGIC being the biggest gainer at 0.69%.
