Form 4: Bank of America Corp Reports Changes in Beneficial Ownership of Nuveen New York Quality Municipal Income Fund

Bank of America Corp, along with Merrill Lynch, Pierce, Fenner & Smith Inc., reports transactions in Nuveen New York Quality Municipal Income Fund shares, indicating changes in beneficial ownership.

Summary

• Bank of America Corporation and its subsidiary, Merrill Lynch, Pierce, Fenner & Smith Incorporated, jointly filed a statement regarding changes in beneficial ownership of Nuveen New York Quality Municipal Income Fund shares.
• The transactions, which occurred on January 17, 2025, involved both the purchase and sale of common stock.
• Bank of America acquired 1,611 shares at a price of $11.37.
• Merrill Lynch disposed of shares in multiple transactions at prices ranging from $11.23 to $11.25.
• Following these transactions, the reporting persons indirectly hold a remaining amount of shares.
• The reporting persons disclaim beneficial ownership of the securities except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions and disclaims certain types of ownership.

Management Comments

• Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein.
• Neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the Exchange Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by insiders or significant shareholders, providing transparency to the market.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for individuals or entities exceeding a 10% ownership stake in a publicly traded company, similar to filings made by major shareholders in companies like Berkshire Hathaway or BlackRock.
• The transactions reported are typical for institutional investors managing large portfolios, akin to trading activities observed in similar closed-end funds managed by firms like BlackRock or PIMCO.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership structure.
• The filing ensures transparency for stakeholders regarding the ownership of the fund.

Key Dates