CalSTRS substantially increased its investment in Bank of America. The pension fund raised its holdings by 5,515.7% during the second quarter. It acquired over 575 million shares.
This purchase brings CalSTRS' total ownership to approximately 8.38% of the financial services giant. The reported value exceeded $33.3 billion at the time of the filing. This significant investment indicates a strong bullish stance on the bank's future performance and stability. The investment highlights continued institutional interest in Bank of America stock.