Form 4: Bank of America Corp Disposes of Variable Rate MuniFund Term Preferred Shares in Pioneer Municipal High Income Advantage Fund, Inc.

Bank of America Corporation, through its subsidiary Banc of America Preferred Funding Corporation, disposed of 900 Variable Rate MuniFund Term Preferred Shares of Pioneer Municipal High Income Advantage Fund, Inc. due to a redemption by the issuer.

Summary

• On February 29, 2024, Banc of America Preferred Funding Corporation (PFC), a wholly-owned subsidiary of Bank of America Corporation (BAC), disposed of 900 Variable Rate MuniFund Term Preferred Shares (VMTP Shares) of Pioneer Municipal High Income Advantage Fund, Inc.
• The disposal was a result of a redemption by the Issuer.
• The redemption price was $100,443.2858 per share, including a liquidation preference of $100,000.00 per share and accrued dividends of $443.2858 per share.
• Following the transaction, PFC holds 500 VMTP Shares indirectly.
• Bank of America Corporation holds an indirect interest in the securities listed by virtue of its indirect ownership of PFC.
• Both BAC and PFC have jointly filed the statement and declare that the filing should not be construed as an admission of acting as a group for acquiring, holding, or disposing of securities of the Issuer.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to a share redemption, indicating a neutral sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders of a publicly traded company buy or sell the company's securities. This filing indicates a change in Bank of America's holdings in Pioneer Municipal High Income Advantage Fund, Inc.

Stakeholder Impact

• The redemption may have a minor impact on the fund's asset base, but the effect is likely to be minimal given the size of the transaction relative to the overall fund.

Key Dates