Form 4: Bank of America Corp and Merrill Lynch Report Transaction in Nuveen Quality Municipal Income Fund

Bank of America Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated jointly report a transaction involving common stock of Nuveen Quality Municipal Income Fund.

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 Quality Municipal Income Fund (NAD) common stock.
• On April 16, 2025, a transaction occurred where 2,103 shares were acquired at $11.0897 per share and 2,103 shares were disposed of at $11.0808 per share.
• Following the reported transactions, the reporting persons beneficially own 0 shares.
• The reporting persons disclaim beneficial ownership except to the extent of their pecuniary interest.
• The filing includes a joint filing agreement effective as of April 17, 2025, authorizing joint filings under Section 13 or Section 16 of the Securities Exchange Act of 1934.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Management Comments

• Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Securities Exchange Act of 1934 (the 'Exchange Act'), or for any other purpose.
• Each Reporting Person declares that 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 disclosures required by the SEC when insiders or significant shareholders of a company trade the company's securities, providing transparency to the market.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for individuals or entities considered insiders under SEC rules, such as officers, directors, and beneficial owners holding more than 10% of a company's stock.
• These filings are comparable to those made by insiders of other publicly traded companies like Apple, Microsoft, or Google, where similar transactions trigger the same reporting obligations.
• The information disclosed in Form 4 filings is used by investors to gauge the sentiment and actions of company insiders, which can influence investment decisions.

Stakeholder Impact

• The transaction may be of interest to shareholders of Nuveen Quality Municipal Income Fund as it provides insight into the activities of major shareholders.
• The filing ensures transparency and compliance with SEC regulations, which benefits all stakeholders.

Key Dates

Keywords

beneficial ownership, Form 4, Nuveen Quality Municipal Income Fund, NAD, Bank of America, Merrill Lynch, transaction, common stock, Securities Exchange Act, Section 16