Form 4: JPMorgan Chase Bank, N.A. Reports Change in Beneficial Ownership of Nuveen Municipal Credit Opportunities Fund Shares
SEC Form 4 Filing
JPMorgan Chase Bank, N.A. reports a change in beneficial ownership of Series C MuniFund Preferred Shares of Nuveen Municipal Credit Opportunities Fund due to the termination of a trust.
Summary
- JPMorgan Chase Bank, N.A. filed a Form 4 to report changes in its beneficial ownership of Nuveen Municipal Credit Opportunities Fund's (NMCO) Series C MuniFund Preferred Shares.
- On May 16, 2025, a trust designated as the J.P. Morgan PUTTERs/DRIVERs, Series 5033 Trust, which previously held 990 MFP Shares, was terminated.
- As a result, JPMorgan Chase Bank, N.A. became the direct beneficial owner of these 990 shares, which were previously indirectly owned through the trust.
- The shares were originally deposited into the trust on February 27, 2020, as reported in a previous filing on March 3, 2020.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, indicating a neutral sentiment. It simply reports a change in ownership structure.
Industry Context
This filing is a routine disclosure related to changes in beneficial ownership, which is a common occurrence in the investment management industry. It reflects the ongoing management and adjustments of investment portfolios by large financial institutions like JPMorgan Chase.
Comparison to Industry Standards
- Form 4 filings are standard practice for entities holding more than 10% of a company's shares, or who are directors or officers, 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 in publicly traded companies change.
- The reporting requirements ensure transparency and provide investors with insights into the ownership structure of publicly traded companies.
Stakeholder Impact
- The change in beneficial ownership is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors, as it is simply a change in the form of ownership by a major financial institution.
Key Dates
| Date | Description |
|---|---|
| February 27, 2020 | JPMCB deposited the MFP Shares into the J.P. Morgan PUTTERs/DRIVERs, Series 5033 Trust. |
| March 3, 2020 | Previous filing reporting the deposit of MFP Shares into the trust. |
| May 16, 2025 | Date of the transaction where the Trust was terminated and JPMCB became the direct beneficial owner of the MFP Shares. |
| May 20, 2025 | Date of signature for the Form 4 filing. |
Keywords
beneficial ownership, Form 4, JPMorgan Chase, Nuveen, NMCO, MuniFund Preferred Shares, Series C, Trust
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.