Form 4: Bank of America Reports PIMCO Fund Share Transactions

Bank of America and Merrill Lynch reported simultaneous acquisition and disposition of 65 shares of PIMCO Municipal Income Fund II common stock, resulting in no net change in beneficial ownership from these specific transactions.

Summary

• Bank of America Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated (Reporting Persons) filed a Form 4 regarding PIMCO Municipal Income Fund II (PML).
• On March 13, 2026, 65 shares of Common Stock were acquired at a price of $7.7447 per share.
• On the same date, 65 shares of Common Stock were disposed of at a price of $7.6302 per share.
• These transactions resulted in zero indirect beneficial ownership of the reported securities following these specific transactions.
• The reporting persons disclaim beneficial ownership except to the extent of their pecuniary interest and do not concede 10% owner status or Section 16(a) applicability for these transactions.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine compliance filing reporting minor, offsetting transactions by an insider, with no significant positive or negative implications for the issuer or the reporting persons' investment strategy.

Negatives

• The disposition price of $7.6302 per share was lower than the acquisition price of $7.7447 per share for the 65 shares transacted.

Risks

• The reporting persons explicitly state that without conceding their status as a greater than 10% beneficial owner or that the reported transactions are subject to disclosure under Section 16(a) or short-swing profit recovery under Section 16(b) of the Exchange Act, any profit potentially recoverable by the Issuer from these transactions would be remitted to the Issuer.

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.
• Without conceding its status as a greater than 10% beneficial owner or that the reported transactions are subject to disclosure under Section 16(a) of the Exchange Act or short-swing profit recovery under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable by the Issuer from the reported transactions in the event that the Reporting Persons were greater than 10% beneficial owners and the transactions were subject to Section 16(b) will be remitted to the Issuer.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard for reporting changes in beneficial ownership by insiders (directors, officers, or 10% owners). These transactions, involving a small number of shares and a simultaneous buy/sell, are likely part of a structured trading plan or internal rebalancing, rather than a significant directional bet on PIMCO Municipal Income Fund II.

Related Party Transactions

• Bank of America Corporation holds an indirect interest in the reported securities by virtue of its 100% ownership of its subsidiary, Merrill Lynch, Pierce, Fenner & Smith Incorporated. Both entities are jointly filing this report.

Stakeholder Impact

• Shareholders of PIMCO Municipal Income Fund II may note the insider activity, but the small scale and offsetting nature of the transactions suggest a negligible impact on the company's valuation or strategic direction.

Key Dates

Keywords

SEC Form 4, insider trading, beneficial ownership, PIMCO Municipal Income Fund II, PML, Bank of America, Merrill Lynch, common stock, Section 16