We're Locking in Big Gains on This Holding Reflecting Portfolio Discipline
We will remain owners given what we see in the IPO and M&A markets.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
BAC | Sell | 410 | 57.25 | 4,000 | 4.10 |
After you receive this Alert, we will sell 410 shares of Bank of America (BAC) at or near $57.25. Following the trade, BAC shares will account for roughly 4.1% of the Pro Portfolio’s assets.
After keeping a close watch on the position size of BAC in the Portfolio, today’s move higher in the share price has pushed that position size above 4.5%. We’ve telegraphed to you that if that were to happen, we would undertake prudent portfolio management, and lock in some big gains on the shares.
With the IPO market and M&A activity poised to remain vibrant in the coming quarters, and the potential for loan activity to improve as the interest rates continue to move lower, we will remain owners of BAC shares to capture further upside. Based on the near-term tone of the IPO and M&A market, we may need to revisit our BAC price target as well as the one for Morgan Stanley (MS) .
We will also continue to keep a close watch on Microsoft (MSFT) , First Trust Nasdaq Cybersecurity ETF (CIBR) , ServiceNow (NOW) , and Eaton (ETN) shares. In addition, we will continue to examine and in some cases re-examine Bullpen contenders.
(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade's executed price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long BAC, MS, MSFT, CIBR NOW, and ETN.
