Form 4: Bank of America Corp, BofA Securities, and Merrill Lynch Report Changes in Beneficial Ownership of BlackRock MuniHoldings New Jersey Quality Fund
SEC Form 4 Filing
Bank of America Corporation, along with its subsidiaries BofA Securities and Merrill Lynch, have reported multiple transactions involving the purchase and sale of common stock in BlackRock MuniHoldings New Jersey Quality Fund.
Summary
- This document is a Form 4 filing, detailing changes in beneficial ownership of BlackRock MuniHoldings New Jersey Quality Fund, Inc. common stock by Bank of America Corporation, BofA Securities, Inc., and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
- The filing covers transactions from February 25, 2015, to October 3, 2024, and includes both purchases and sales of the fund's common stock.
- The transactions are reported as indirect ownership through Bank of America's subsidiaries, with each entity disclaiming beneficial ownership except for their pecuniary interest.
- The reporting persons have stated that they are not acting as a group for the purpose of acquiring, holding, or disposing of securities of the issuer.
- The document includes a joint filing agreement, indicating that the three entities will jointly file required documents under the Securities Exchange Act of 1934.
Sentiment
Score: 5
Explanation: The sentiment is neutral as this is a routine regulatory filing detailing transactions. There is no indication of positive or negative sentiment from the document itself.
Risks
- The document indicates that the reporting persons are not admitting to being a group for the purposes of Section 13(d) of the Exchange Act, which could be a risk if they are deemed to be acting as a group.
- The document mentions that any profit potentially recoverable by the issuer from the reported transactions will be remitted, which could indicate potential issues with compliance.
Industry Context
This filing is a routine disclosure of changes in beneficial ownership, which is common for large financial institutions holding significant positions in publicly traded companies. The transactions reflect normal trading activity and portfolio management by Bank of America and its subsidiaries.
Comparison to Industry Standards
- Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders and large shareholders, as mandated by the SEC.
- The volume and frequency of transactions are not unusual for a large financial institution like Bank of America, which manages extensive investment portfolios.
- Similar filings can be observed from other major financial institutions such as JP Morgan Chase, Citigroup, and Goldman Sachs, when they trade in securities of other companies.
Stakeholder Impact
- The transactions may have a minor impact on the share price of BlackRock MuniHoldings New Jersey Quality Fund, Inc., but are unlikely to cause significant volatility.
- The filing provides transparency to shareholders regarding the trading activity of a major institutional investor.
Key Dates
| Date | Description |
|---|---|
| 02/25/2015 | Date of the earliest transaction reported. |
| 10/20/2016 | Purchase of 1,000 shares at $15.1036. |
| 01/30/2018 | Purchase and sale of 300 shares at $13.62 and $13.6035 respectively. |
| 07/03/2018 | Purchase of 199 shares at $13.08. |
| 10/24/2018 | Purchase of 150 shares at $12.377. |
| 12/21/2018 | Multiple purchases and sales of shares at around $12.40. |
| 02/15/2019 | Multiple sales of shares at $13.08. |
| 05/07/2019 | Multiple purchases and sales of shares at around $13.77-$13.79. |
| 09/05/2019 | Purchase of 1,740 shares at $14.37. |
| 09/23/2019 | Sale of 38,960 shares at $14.18 and multiple purchases at $14.12. |
| 12/02/2019 | Purchase and sale of 400 shares at $14.172 and $14.1631 respectively. |
| 03/03/2020 | Multiple purchases and sales of shares at $14.65. |
| 03/26/2020 | Purchase of 5,000 shares at $13.3894. |
| 04/13/2020 | Purchase of 63 shares at $13.0266. |
| 09/17/2020 | Sale and purchase of 3,585 shares at $13.9026 and $13.91 respectively. |
| 04/20/2021 | Sale of 1,924 shares at $15.1081. |
| 09/08/2021 | Purchase of 6,522 shares at $15.8894 and multiple sales at around $15.84-$15.885. |
| 01/25/2022 | Multiple purchases and sales of shares at $14.53. |
| 05/02/2022 | Sale of 1,542 shares at $12.6922. |
| 05/04/2022 | Purchase and sale of shares at around $12.645-$12.65. |
| 07/27/2022 | Multiple purchases and sales of shares at $13.19. |
| 09/15/2022 | Multiple purchases and sales of shares at around $12.65-$12.66. |
| 12/06/2022 | Multiple purchases and sales of shares at around $12.11-$12.125. |
| 12/23/2022 | Sale of 2,500 shares at $11.03. |
| 12/27/2022 | Sale of 1,250 shares at $10.99 and multiple purchases at around $10.955-$10.9981. |
| 12/29/2022 | Multiple purchases and sales of shares at around $11.03-$11.04. |
| 01/12/2023 | Multiple purchases and sales of shares at $11.66. |
| 03/15/2023 | Multiple purchases and sales of shares at $11.17. |
| 09/30/2024 | Purchase of 14 shares at $12.135. |
| 10/03/2024 | Sale of 14 shares at $12.1712. |
| 12/13/2024 | Date of the Joint Filing Agreement. |
Keywords
beneficial ownership, Form 4, securities transactions, common stock, BlackRock MuniHoldings, Bank of America, Merrill Lynch, BofA Securities, SEC filing
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