Bank of America Corporation
NYSEBAC.PRM short interest plummeted 69% over the past week, dropping to just 48,669 shares as of March 31. The decline marks a sharp reversal in bearish positioning on Bank of America Corporation's Series M preferred stock. Short interest fell from 69,113 shares in mid-March to the current level, a drop of over 20,000 shares in two weeks. The decline accelerates a broader trend: short positions are down 61% over the past month from 158,738 shares in late February. Days to cover sits at 1.0, indicating minimal time needed for shorts to exit positions given current trading volumes. Cost to borrow stands at 5.96%, down 15% over the past week from recent highs above 7%. The easing borrow costs suggest reduced demand to short the preferred shares. Utilization has collapsed to just 0.02%, down from 0.45% in late March. At its 52-week peak, utilization reached 3.57%, highlighting how dramatically bearish interest has evaporated. The preferred stock closed at $22.14 on April 21, down slightly over the past week but up 2.5% over the month. The sharp unwind of short positions coincides with Bank of America's upcoming earnings release scheduled for May 4. With short interest near its lowest level in six months and borrow costs declining, bearish conviction on BAC.PRM has largely disappeared. Whether this represents capitulation or simply reduced opportunity for shorting the preferred shares remains to be seen. This analysis is for informational purposes only and does not constitute financial advice. ORTEX data may contain inaccuracies.
Bank of America Preferred Series M Sees Sharp Short Interest Decline
BAC.PRM short interest plummeted 69% over the past week, dropping to just 48,669 shares as of March 31. The decline marks a sharp reversal in bearish positioning on Bank of America Corporation's Series M preferred stock. Short interest fell from 69,113 shares in mid-March to the current level, a drop of over 20,000 shares in two weeks. The decline accelerates a broader trend: short positions are down 61% over the past month from 158,738 shares in late February. Days to cover sits at 1.0, indicating minimal time needed for shorts to exit positions given current trading volumes. Cost to borrow stands at 5.96%, down 15% over the past week from recent highs above 7%. The easing borrow costs suggest reduced demand to short the preferred shares. Utilization has collapsed to just 0.02%, down from 0.45% in late March. At its 52-week peak, utilization reached 3.57%, highlighting how dramatically bearish interest has evaporated. The preferred stock closed at $22.14 on April 21, down slightly over the past week but up 2.5% over the month. The sharp unwind of short positions coincides with Bank of America's upcoming earnings release scheduled for May 4. With short interest near its lowest level in six months and borrow costs declining, bearish conviction on BAC.PRM has largely disappeared. Whether this represents capitulation or simply reduced opportunity for shorting the preferred shares remains to be seen. This analysis is for informational purposes only and does not constitute financial advice. ORTEX data may contain inaccuracies.
Snapshot as of 9 May 2026
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