Bank of America Trust Originated Preferred Securities Shares Cross 7% Yield Mark

In trading on Thursday, shares of Bank of America Corp.'s 7.12% Trust Originated Preferred Securities (NYSE: MER.PRE) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.78), with shares changing hands as low as $25.23 on the day. This compares to an average yield of 5.15% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, MER.PRE was trading at a 2.28% premium to its liquidation preference amount, versus the average...