Jim Cramer's Charitable Trust Increases Stake in Bank of New York
BNY Bank Of New York Mellon Corp
$143.61 +0.62%
View chart & analysis → - 1Jim Cramer's Charitable Trust purchased 40 shares of Bank of New York at an average purchase price of $143 per share.
- 2This transaction increases the position of Jim Cramer's Charitable Trust from 2.02% to approximately 2.16%.
- 3Approximately 70% of BNY's revenue comes from fee-based sources, making the company relatively safe from credit cycles or interest rate changes.
So what's the key point?
Jim Cramer's Charitable Trust bought 40 more shares of Bank of New York. The company is relatively safe from interest rate changes because 70% of its revenue comes from fees.
Source CNBC · View original ↗
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