Value Microcaps Motherboard

[stock_peeker]

11:03 S&P rebalancing due BAC stock issuance

Notes BAC issued a large number of equivalent shares at the close yesterday. Also notes that there will be a rebalancing in the S&P 500 today at the close. So BAC's weighting will increase in the S&P 500 because they issued 1.826 bln in common equivalent securities (which are common shares and that is what the S&P is treating them as). Indexers will need to buy about 141 mln shares of BAC and sell the rest of the index. Says this could pressure the market at the close.