Bank of America shares rises after posting higher Q1 profit

Shares of Bank of America BAC.N up 1.61% at $37.26 in premarket trading

BofA reports higher profit in the first quarter as market volatility boosts its trading fees.

BofA's investment banking fees falls 3% to $1.5 billion in the first quarter.

U.S. bank's net income rises $7.4 billion, or 90 cents per share, in the quarter ended March 31, the lender said on Tuesday. That compares with $6.7 billion, or 76 cents per share, a year earlier.

As of last close, BAC down ~16.6% YTD