BML.PRJ

Bank of America Corporation

NYSE

Short sellers piled into BML.PRJ last week. The Bank of America preferred security saw short interest rocket 683% to 57,859 shares as of March 31. The jump marks a dramatic reversal in sentiment. Just two weeks prior, only 12,056 shares were sold short. Before that, short interest sat at a mere 7,392 shares in late February. Days to cover rose to 1.83 from 1.0, signaling the position would take nearly two days of average volume to unwind. Cost to borrow fell 13% over the week to 10.02%, down from mid-March peaks above 15%. Lower borrowing costs made the short trade cheaper to maintain despite the surge in shares. Utilization dropped sharply to 0.95% on April 21, down from over 10% in late March. The 52-week high hit 11.72%. Low utilization suggests ample shares remain available to borrow despite the recent short interest climb. The preferred share price fell 1.6% over the past week to $19.66. It's up just 0.4% over the trailing month. Parent company Bank of America reports first quarter earnings May 4. The dramatic short build in a thinly traded preferred security suggests targeted bearish positioning. Whether shorts are betting on dividend cuts, credit deterioration, or simply rich valuations remains unclear. The next settlement date will reveal if this aggressive trade expands further. This is not financial advice. Short interest data may be subject to reporting delays.

Cost to borrow

9.28%▲ 2.7%

Live CTB on ORTEX →

Utilization

1.7%

Next earnings

14 Jul 2026

Snapshot as of 9 May 2026