SCHEDULE: Bank of America Boosts PIMCO Fund II Stake to 83.7%

Bank of America Corporation and Banc of America Preferred Funding Corp updated their beneficial ownership in PIMCO Municipal Income Fund II's preferred shares to 83.7% due to a decrease in outstanding shares.

Summary

• Bank of America Corporation and Banc of America Preferred Funding Corp (collectively, the "Reporting Persons") filed Amendment No. 4 to their Schedule 13D.
• The amendment reports a change in the percentage of the class of REMARKETABLE VARIABLE RATE MUNIFUND TERM PREFERRED (RVMTP Shares) beneficially owned by the Reporting Persons.
• The change is solely due to a decrease in the total outstanding shares of the preferred class of PIMCO Municipal Income Fund II (the "Issuer") to 6,108 shares.
• The Issuer reported this decrease to the Reporting Persons on March 10, 2026.
• The Reporting Persons continue to beneficially own 5,110.00 RVMTP Shares.
• This results in their aggregate beneficial ownership representing 83.7% of the class, up from a previously implied lower percentage based on a higher outstanding share count.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral, administrative update reflecting a change in the total outstanding shares of the preferred class, which consequently adjusted the reporting persons' percentage ownership.

Positives

• The Reporting Persons' percentage of beneficial ownership in PIMCO Municipal Income Fund II's preferred shares increased to 83.7% without requiring additional investment, due to a reduction in the total outstanding shares of the class.

Future Outlook

No forward-looking statements or guidance are provided in this administrative filing.

Industry Context

StockSavvy.ai notes this is a routine administrative update for a significant holder of preferred shares in a municipal income fund, reflecting a change in the fund's capital structure rather than a strategic move by Bank of America. Such filings are standard for large institutional investors maintaining significant stakes.

Stakeholder Impact

• Minimal direct impact on common shareholders of PIMCO Municipal Income Fund II, as this update pertains to preferred shares and is administrative in nature.
• Provides updated transparency for preferred shareholders and regulatory bodies regarding the concentration of ownership.

Key Dates

Keywords

Bank of America, PIMCO, Municipal Income Fund, Preferred Stock, Schedule 13D, Beneficial Ownership, SEC Filing, RVMTP Shares