BML.PRG

Bank of America Corporation

NYSE

Bank of America preferred shares (BML.PRG) saw cost to borrow spike 165% over the past week to 6.55%, signaling heightened demand to short the security despite falling short interest. The dramatic jump in borrowing costs comes as shares closed at $19.40 on April 21, up 0.4% on the day. Short interest has declined sharply, down 37% over the past week and 62% over the past month to just 3,007 shares. Cost to borrow peaked at 11.68% in late February before moderating. The recent week-long surge reversed a month-long cooling trend that saw CTB drop from over 9% in mid-March to 2.47% in early April. Utilization remains subdued at 2.19%, well below the 52-week high of 84.63%. The low utilization suggests ample shares remain available despite the elevated borrowing costs. Days to cover sits at 1.0, indicating shorts could exit positions quickly if needed. The preferred share's relatively thin short interest and low trading volume mean small shifts in borrow demand can move CTB significantly. Bank of America's next earnings event is scheduled for May 4 at 2:00 PM UTC. The company last reported on April 15. The preferred security's sharp CTB increase against declining short interest suggests existing shorts are holding positions despite higher costs, or new shorts are entering at elevated rates. The divergence bears watching. --- This is not financial advice. ORTEX data may contain errors.

Cost to borrow

6.29%▲ 20.8%

Live CTB on ORTEX →

Utilization

2.6%

Next earnings

14 Jul 2026

Snapshot as of 9 May 2026