bank of america BAC.PR.*

Thanks very I appreciate the explanations, helps me understand the different types of stocks and how to think about them

Keep in mind, these are essentially the series of Bank of America preferred shares.

These shares act more like a bond, and not like a common stock. They are sensitive to interest rates, and don't see normal price movements like common stocks do.

There's a number of reasons a preferred could dip. One could be the fact it's gone ex-dividend. In this case, the price will dip by the dividend paid. Another reason could simply be because of normal stock market activity.

Preferred shares have a TON of different stipulations, conditions, rules etc. That's why you see so many different classes. You can have convertible preferred, callable preferred, floating rate preferred etc.

These are stocks reserved for the most conservative investors, and are actually way more popular among institutional investors.