Form 4: Bank of America Corp and Merrill Lynch Report Changes in Beneficial Ownership of PIMCO Municipal Income Fund

Bank of America Corporation and Merrill Lynch jointly report transactions in PIMCO Municipal Income Fund (PMF) common stock, indicating changes in beneficial ownership.

Summary

• Bank of America Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated jointly filed a statement regarding changes in beneficial ownership of PIMCO Municipal Income Fund (PMF) common stock.
• On June 11, 2025, a series of transactions were executed involving the purchase and sale of PMF common stock.
• Purchases ranged from 61 shares to 11,313 shares at a price of $7.955 per share.
• Sales ranged from 1 share to 2,000 shares with prices varying between $7.88 and $7.93 per share.
• Following these transactions, the amount of securities beneficially owned by the reporting persons changed, with the final holdings being reported indirectly.
• 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 detailing stock transactions. It does not convey strong positive or negative sentiment.

Positives

• The document indicates active trading in PIMCO Municipal Income Fund (PMF) common stock by Bank of America and Merrill Lynch.
• Purchases of PMF common stock were made at a price of $7.955 per share.
• The reporting persons are remitting any potentially recoverable profit from the reported transactions to the Issuer.

Negatives

• The document indicates sales of PIMCO Municipal Income Fund (PMF) common stock by Bank of America and Merrill Lynch.
• Sales of PMF common stock were made at prices varying between $7.88 and $7.93 per share.

Future Outlook

There are no explicit forward-looking statements or guidance provided in the document.

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, acting as a group or 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

This filing is a routine disclosure related to changes in beneficial ownership, which is a common occurrence for large financial institutions holding positions in publicly traded companies. It reflects ongoing investment decisions and portfolio adjustments.

Comparison to Industry Standards

• Comparable companies such as JP Morgan Chase & Co., Citigroup Inc., and Wells Fargo & Company also routinely file similar Form 4 documents when their beneficial ownership in various entities changes.
• The transactions are typical of large financial institutions managing diverse investment portfolios.
• The level of detail provided is consistent with SEC requirements for disclosing changes in beneficial ownership.

Stakeholder Impact

• Shareholders: The transactions may have a minor impact on the stock price due to the volume of shares traded.
• Employees: No direct impact on employees.
• Customers: No direct impact on customers.
• Suppliers: No direct impact on suppliers.
• Creditors: No direct impact on creditors.

Key Dates

Keywords

PIMCO Municipal Income Fund, PMF, Bank of America, Merrill Lynch, Beneficial Ownership, SEC Form 4, Common Stock, Transactions, Securities