On Friday, Shares of Bank of America Corp (NYSE:BAC), added 3.23% and closed at $15.65 in the last trading session. The last trading range of the stock ranges between $15.17 and $15.73. Bank of America Corporation, through its auxiliaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional shareholders, large corporations, and governments worldwide. It operates through five segments: Consumer Banking, Global Wealth & Investment Administration, Global Banking, Global Markets, and Legacy Assets & Servicing. The Consumer Banking segment offers traditional and money market savings accounts, CDs and IRAs, noninterest- and interest-bearing checking accounts, and investment accounts and products, in addition to credit and debit cards, residential mortgages and home equity loans, and direct and indirect loans. This segment provides its products and services through about 4,700 financial centers, 16,000 ATMs, call centers, and online and mobile platforms. The Global Wealth & Investment Administration segment offers investment administration, brokerage, banking, and retirement products, in addition to wealth administration and customized solutions. The Global Banking segment provides lending products and services, counting commercial loans, leases, commitment facilities, trade finance, real estate lending, and asset-based lending; treasury solutions, such as treasury administration, foreign exchange, and short-term investing options; working capital administration solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services. The Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, in addition to risk administration, foreign exchange, fixed-income, and mortgage-related products.
Wells Fargo & Co (NYSE:WFC), dropped -0.20% and closed at $44.28 in the last trading session. The last trading range of the stock ranges between $44.10 and $44.73. The company’s Market capitalization is $222.96 Billion with the total Outstanding Shares of 5.05 Billion. The Wells Fargo Income Opportunities Fund (NYSE MKT: EAD), the Wells Fargo Multi-Sector Income Fund (NYSE MKT: ERC), and the Wells Fargo Utilities and High Income Fund (NYSE MKT: ERH) have each declared a dividend declaration.
The Wells Fargo Income Opportunities Fund is a closed-end high-yield bond fund. The fund’s investment objective is to seek a high level of current income. The fund may, as a secondary objective, seek capital appreciation to the extent it is consistent with its investment objective.
The Wells Fargo Multi-Sector Income Fund is a closed-end income fund. The fund’s investment objective is to seek a high level of current income consistent with limiting its overall exposure to domestic interest-rate risk.
The Wells Fargo Utilities and High Income Fund is a closed-end equity and high-yield bond fund. The fund’s investment objective is to seek a high level of current income and moderate capital growth, with an emphasis on providing tax-advantaged dividend income.
The final determination of the source of all distributions is subject to change and is made after year-end. Each fund will send shareholders a Form 1099-DIV for the calendar year that will tell shareholders how to report these distributions for federal income tax purposes.