Bank of America Corp DE established a new position in Sun Life Financial Inc. during the second quarter. The banking giant purchased 889,886 shares of the financial services provider.
This investment is valued at approximately $69.79 million. The purchase represents a 0.16% ownership stake in the company.
Bank of America disclosed the transaction in a 13F filing with the Securities & Exchange Commission on September 20th. Sun Life shares recently crossed above a long-term moving average, a technical signal often viewed as constructive by analysts.