Form 4: Bank of America Corp Reports Changes in Ownership of Invesco California Value Municipal Income Trust

Bank of America Corp reports the disposal of shares in Invesco California Value Municipal Income Trust due to a redemption by the issuer.

Summary

• Bank of America Corporation, along with its subsidiary Banc of America Preferred Funding Corporation (PFC), filed a Form 4 regarding changes in beneficial ownership of Invesco California Value Municipal Income Trust (VCV).
• The filing indicates that PFC disposed of 313 Variable Rate Muni Term Preferred Shares (VMTP Shares) due to a redemption by the issuer on May 31, 2024.
• The redemption price was $100,373.72 per share, including a liquidation preference of $100,000.00 and accumulated unpaid dividends of $373.72.
• Following the transaction, Bank of America Corporation indirectly holds 1,770 shares through its subsidiary.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing related to a redemption event, so the sentiment is neutral. The redemption itself is neither particularly positive nor negative from an investment perspective.

Future Outlook

Each reporting person is currently analyzing additional trading activity and expect to file another Form 4 as promptly as reasonably practicable once that analysis is complete.

Industry Context

Form 4 filings are standard disclosures required by the SEC when there are changes in beneficial ownership of a company's securities by its directors, officers, or principal stockholders. This filing indicates a change in Bank of America's holdings in Invesco California Value Municipal Income Trust due to a redemption event.

Stakeholder Impact

• Shareholders of Invesco California Value Municipal Income Trust may be affected by the redemption of shares, potentially impacting the fund's asset base and dividend distributions.
• Bank of America Corporation's stake in the trust has been adjusted, which could influence its investment strategy.

Next Steps

• Bank of America Corporation and PFC will continue to analyze additional trading activity and file another Form 4 as needed.

Key Dates