Bank of America Corporation (NYSE:BAC) [Trend Analysis] knocking active thrust in leading trading session, shares an raise of 1.80% to 21.50 with about 199.01 Million shares have changed hands in this session. The Securities Arbitration Law Firm of Klayman & Toskes, P.A., reported that an examination into Merrill Lynch, a wholly owned brokerage firm of Bank of America (BAC), for Financial Industry Regulatory Authority (FINRA) sales practice infringement from its Loan Management Accounts (LMAs) following FINRA regulatory fines.
FINRA agreed from Merrill Lynch an Acceptance Waiver and Consent for $6.25 million in fines and about $780,000 in restitution to Puerto Rico consumers, for inadequately supervising the use of Merrill Lynch loans for consumer accounts. According to FINRA, Merrill Lynch brokerage accounts attained proceeds transferred from LMAs and purchased millions of dollars in securities, the majority being purchased on margin, within 14 days of the transfer. FINRA concluded that these supervisory failures occurred from January 2010 to November 2014. The stock is going forward its fifty-two week low with 98.69% and lagging behind from its 52-week high price with 1.46%.
Same, the positive performance for the quarter recorded as 35.04% and for the year was 23.93%, while the YTD performance remained at 29.75%. BAC has Average True Range for 14 days of 0.51.
The New America High Income Fund Inc. (NYSE:HYB) [Trend Analysis] retains strong position in active trade, as shares scoring -0.55% to $8.99 in a active trade session, while looking at the shares volume, about 87167 shares have changed hands in this session. The New America High Income Fund, Inc. (NYSE:HYB) reported that it will pay a dividend of $.06 per share on the firm’s ordinary stock on December 30, 2016 to ordinary shareholders of record as of the close of business on December 16, 2016. The ex-dividend date will be December 14th.
The New America High Income Fund, Inc. is a diversified, closed-end management investment firm with a leveraged capital structure. The Fund’s investment adviser is T. Rowe Price Associates, Inc. As of September 30, 2016, T. Rowe Price and its associates managed about $813 billion of assets, comprising about $22 billion of “high yield” investments. T. Rowe Price has provided investment advisory services to investment companies since 1937.