Bank of America Securities recommends investors turn to dividend stocks to protect against market volatility this summer. The S&P 500 has already surpassed the bank’s year-end target of 7,100 points, prompting caution. Strategists advise focusing on stocks in the second quintile of trailing dividend yield in the Russell 1000, offering above-market yields without being stretched. Among the highlighted names are Chevron (3.55%, +31% YTD), Duke Energy (3.59%), Gap (3.29%, down 17%), and Host Hotels & Resorts (3.56%, +27%). The S&P 500 as a whole currently yields 1.02%.
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