Bank of America's Preferred Stock, Series GG Shares Cross 6.5% Yield Mark

In trading on Tuesday, shares of Bank of America Corp's 6.000% Non-Cumulative Preferred Stock, Series GG (Symbol: BAC.PRB) were yielding above the 6.5% mark based on its quarterly dividend (annualized to $1.50), with shares changing hands as low as $23.07 on the day. This compares to an average yield of 6.94% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, BAC.PRB was trading at a 6.68% discount to its liquidation preference amount, versus the average discount of 14.88% in the "Financial" category.