Will BofA’s Top Institutional Shareholders Buy or Sell at $8?

For the year-to-date, Bank of America Corporation’s (NYSE:BAC) shares are up 43.35 percent. On Tuesday, Moody’s Investors Services said in a report that the outlook for the U.S. banking system continues to be negative amid the current macro-economic challenges even with numerous banks seeing profits since 2010.

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Moody’s Senior Vice President Sean Jones said, “Our negative outlook for the U.S. banking system reflects a challenging domestic operating environment, with prolonged low interest rates, high unemployment, weak economic growth and fiscal policy uncertainties.”

The ratings agency said that eight U.S. banks are systemically important because of their size, interconnectedness and difficulty to unwind. The Bank of America had been included on this list.

From the grim outlook for the U.S. banking system, will Bank of America’s largest shareholders cut their holdings? 1313 institutional firms indicated owning shares of Bank of America Corporation (NYSE:BAC) in Q2 2012. These firms reported owning a total of 6.273 billion shares on 06/30/2012. The shares closed at $8.18 on 06/30/2012.

Here are the ten largest positions in Bank of America Corporation at the end of June 30th, 2012.

Vanguard Group Inc held 440,200,712 shares on 06/30/2012 worth $3,600,841,958. This brought the portfolio total to 0.49%.

State Street Corp held 420,288,095 shares on 06/30/2012 worth $3,437,956,745. This brought the portfolio total to 0.55%.

Blackrock Institutional Trust Company N.A. held 281,420,014 shares on 06/30/2012 worth $2,302,015,800. This brought the portfolio total to 0.55%.

Citigroup Inc held 227,755,700 shares on 06/30/2012 worth $1,863,041,696. This brought the portfolio total to 1.64%.

JPMorgan Chase & Co held 225,360,688 shares on 06/30/2012 worth $1,843,450,497. This brought the portfolio total to 0.71%.

Goldman Sachs Group Inc held 163,761,610 shares on 06/30/2012 worth $1,339,570,020. This brought the portfolio total to 0.6%.

Price T Rowe Associates Inc /MD/ held 146,856,580 shares on 06/30/2012 worth $1,201,286,869. This brought the portfolio total to 0.38%.

Dodge & Cox held 135,821,869 shares on 06/30/2012 worth $1,111,022,930. This brought the portfolio total to 1.51%.

Northern Trust Corp held 132,837,996 shares on 06/30/2012 worth $1,086,614,848. This brought the portfolio total to 0.48%.

Bank of New York Mellon Corp held 115,734,090 shares on 06/30/2012 worth $946,704,892. This brought the portfolio total to 0.37%.

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