Form 4: JPMCB Exits PIMCO Fund III via Reorganization Exchange
Beneficial Ownership Change
JPMorgan Chase Bank, N.A. reported the disposition of 343 preferred shares in PIMCO Municipal Income Fund III as part of a cashless exchange due to a fund reorganization.
Summary
- JPMorgan Chase Bank, N.A. (JPMCB), a 10% owner of PIMCO Municipal Income Fund III (PMX), reported a change in its beneficial ownership.
- JPMCB disposed of 343 Remarketable Variable Rate MuniFund Term Preferred Shares of PMX.
- This transaction occurred on August 1, 2025, as a cashless exchange.
- The disposition was in connection with the reorganization of PMX into PIMCO Municipal Income Fund II (PML).
- JPMCB's indirectly beneficially owned shares of PMX were exchanged for an equal number of RVMTP Shares of PML.
- Following this reported transaction, JPMCB beneficially owns 0 shares of PIMCO Municipal Income Fund III.
Sentiment
Score: 5
Explanation: The filing is a neutral, factual report of a completed corporate action (fund reorganization and share exchange) and does not contain information that would significantly alter sentiment.
Future Outlook
The filing reports a completed transaction related to a fund reorganization and does not provide forward-looking statements or guidance.
Industry Context
This filing reflects a specific corporate action, the reorganization of PIMCO Municipal Income Fund III into PIMCO Municipal Income Fund II, which is a common occurrence in the investment fund industry for consolidation or strategic alignment purposes.
Stakeholder Impact
- For PIMCO Municipal Income Fund III shareholders, the primary impact is the reorganization of the fund into PIMCO Municipal Income Fund II.
- For JPMorgan Chase Bank, N.A., the impact is the conversion of its indirect beneficial ownership in PMX preferred shares to an equivalent holding in PML preferred shares.
Key Dates
| Date | Description |
|---|---|
| 08/01/2025 | Date of the share exchange transaction due to fund reorganization. |
| 08/05/2025 | Date the Form 4 filing was signed by the reporting person. |
Keywords
SEC Form 4, JPMorgan Chase Bank, PIMCO Municipal Income Fund III, PMX, PIMCO Municipal Income Fund II, PML, beneficial ownership, share exchange, fund reorganization, preferred shares
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