Form 4: Bank of America Corp, BofA Securities, and Merrill Lynch Report Changes in Beneficial Ownership of BNY Mellon Municipal Bond Infrastructure Fund

Bank of America Corporation, along with its subsidiaries BofA Securities and Merrill Lynch, reported multiple transactions involving the purchase and sale of common stock in the BNY Mellon Municipal Bond Infrastructure Fund.

Summary

• Bank of America Corporation, along with its subsidiaries BofA Securities and Merrill Lynch, jointly filed a report detailing changes in their beneficial ownership of BNY Mellon Municipal Bond Infrastructure Fund common stock.
• The report includes a series of transactions involving both the acquisition and disposal of shares, occurring between August 19, 2013, and December 31, 2013, with additional transactions in 2014, 2015, 2016, 2017, 2018, 2019 and 2020.
• The transactions include purchases at prices ranging from $10.10 to $14.697 per share and sales at prices ranging from $9.85 to $14.68 per share.
• The report indicates that the reporting entities hold an indirect interest in the securities through their ownership structure.
• The reporting entities have stated that they are not admitting to being a greater than 10% beneficial owner and are remitting any potential profits from these transactions to the issuer.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing transactions, with no clear positive or negative sentiment. It reflects standard market activity.

Risks

• The report indicates that the reporting entities are not admitting to being a greater than 10% beneficial owner, which could imply potential regulatory scrutiny.
• The numerous transactions could indicate active trading, which may introduce volatility.

Management Comments

• The Reporting Persons disclaim beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein.
• The Reporting Persons declare that neither the filing of this statement nor anything herein shall be construed as an admission that such person is acting as a group for the purpose of acquiring, holding or disposing of securities of the Issuer.
• The Reporting Persons are remitting any potential profits from the reported transactions to the Issuer.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership, which is common for large financial institutions that actively manage investments in various funds. It reflects the ongoing trading activity of these entities in the market.

Comparison to Industry Standards

• The reporting of beneficial ownership changes is a standard practice for entities holding significant positions in publicly traded companies, as mandated by the SEC.
• Similar filings are regularly made by other large financial institutions such as BlackRock, Vanguard, and State Street when their ownership positions change in various funds.
• The level of detail provided in this filing, including the specific number of shares and transaction prices, is consistent with industry standards for SEC Form 4 filings.

Stakeholder Impact

• The transactions may have a minor impact on the share price of the BNY Mellon Municipal Bond Infrastructure Fund due to the volume of shares traded.
• The reporting entities are remitting any potential profits to the issuer, which could benefit the fund's shareholders.

Key Dates

Keywords

beneficial ownership, securities, transactions, common stock, BNY Mellon Municipal Bond Infrastructure Fund, Bank of America Corp, BofA Securities, Merrill Lynch, SEC Form 4