Benzinga | Oct 5, 2021 11:54AM EDT

Why Bank Of America Shares Are Rising

Shares of companies in the broader financial services sector, including Bank of America Corp (NYSE:BAC), are trading higher amid overall market strength as stocks rebound following Monday's selloff.

Shares of banks and financial services companies also saw strength last week following a rise in the 10-year US treasury yield. The 10-year note is trading around 1.527%. The 10-year note has a 3-month high of 1.533% and a 3-month low of 1.168%.

Bank of America is one of the largest financial institutions in the United States, with more than $2.5 trillion in assets.

Bank of America has a 52-week high of $44.75 and a 52-week low of $23.12.