Form 4: Bank of America Corp and Merrill Lynch Report Changes in Beneficial Ownership of PIMCO Municipal Income Fund

Bank of America Corporation and Merrill Lynch jointly report transactions in PIMCO Municipal Income Fund (PMF) common stock, indicating changes in beneficial ownership.

Summary

• Bank of America Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated jointly filed a statement regarding changes in beneficial ownership of PIMCO Municipal Income Fund (PMF) common stock.
• On June 11, 2025, a series of transactions involving the purchase and sale of PMF common stock were executed.
• Purchases ranged from 61 shares to 11,313 shares at a price of $7.955 per share.
• Sales ranged from 1 share to 2,000 shares, with prices varying between $7.88 and $7.93 per share.
• Following these transactions, the amount of securities beneficially owned by the reporting persons changed, with the final holdings being 30 shares.
• The reporting persons disclaim beneficial ownership of the securities except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing transactions in company stock. It does not contain overtly positive or negative sentiment.

Future Outlook

No specific future outlook or guidance is provided in this document.

Management Comments

• Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein.
• Neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the Exchange Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
• Without conceding its status as a greater than 10% beneficial owner or that the reported transactions are subject to disclosure under Section 16(a) of the Exchange Act or short-swing profit recovery under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that the Reporting Persons were greater than 10% beneficial owners and the transactions were subject to Section 16(b) will be remitted to the Issuer.

Industry Context

This filing reflects the ongoing trading activity and adjustments in beneficial ownership positions by major financial institutions in publicly traded funds. Such filings are a routine part of regulatory compliance for entities exceeding certain ownership thresholds.

Comparison to Industry Standards

• Comparable companies and funds would be subject to similar SEC reporting requirements for changes in beneficial ownership.
• Examples include filings by other large financial institutions holding significant positions in closed-end funds or municipal bond funds.
• The level of detail and the disclaimers regarding beneficial ownership are standard practice in these types of filings.

Stakeholder Impact

• Shareholders: Provides transparency regarding ownership changes by major shareholders.
• Regulatory bodies: Ensures compliance with SEC regulations regarding disclosure of beneficial ownership.
• Company: Informs the company about significant changes in their shareholder base.

Key Dates

Keywords

PIMCO Municipal Income Fund, PMF, Bank of America Corporation, Merrill Lynch, Beneficial Ownership, SEC Form 4, Common Stock, Transactions, Securities Exchange Act, Reporting Persons