5 Most Buzzing Stocks To Buy Now

2. Bank of America Corporation (NYSE:BAC)

Volume as of March 15: 130.95 million

Average Volume (3-Month): 45.96 million

Number of Hedge Fund Holders: 100

Bank of America Corporation (NYSE:BAC) is experiencing high levels of activity and creating a lot of buzz. On March 15, the stock experienced an intraday trading volume of 130.95 million. As of March 15, Bank of America Corporation (NYSE:BAC) has a 3-month average trading volume of 45.96 million.

On March 8, Odeon Capital revised its rating on Bank of America Corporation (NYSE:BAC) to Hold from Buy and reiterated a $35.20 price target on the shares.

At the close of the fourth quarter of 2022, 100 hedge funds were long Bank of America Corporation (NYSE:BAC) and disclosed collective stakes worth $37.5 billion in the company. This is compared to 97 hedge funds in the previous quarter with stakes worth $35.6 billion. The hedge fund sentiment for the stock is positive and the stock is placed second on our list of the most buzzing stocks to buy now according to hedge funds.

As of December 31, Berkshire Hathaway is the largest investor in Bank of America Corporation (NYSE:BAC) and holds a stake worth $33.45 billion.

Here is what Ariel Investments had to say about Bank of America Corporation (NYSE:BAC) in its Q3 2022 investor letter:

“We initiated three new positions in the quarter. We added leading financial institution Bank of America Corporation (NYSE:BAC) which serves individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management, and other financial and risk management products and services. The current company was formed through various mergers including NationsBank, FleetBoston, US Trust, Countrywide Financial, and Merrill Lynch with the legacy commercial bank to form a national banking powerhouse and bulge bracket investment firm. As one of the ‘Big Four’ U.S. banks it enjoys scale driven cost advantages and economies of scale which provide meaningful competitive advantages and potential for strong returns in the largely commoditized banking industry. A survivor of the financial crisis, BAC has emerged with a solid capital base and stands to benefit from a rising interest rate environment.”