Form 4: Bank of America Corp Reports Disposition of Pioneer Municipal High Income Advantage Fund Shares

Bank of America Corp reports the disposition of Variable Rate MuniFund Term Preferred Shares of Pioneer Municipal High Income Advantage Fund due to a redemption by the issuer.

Summary

• Bank of America Corporation (BAC) and its subsidiary, Banc of America Preferred Funding Corporation (PFC), jointly filed a Form 4 regarding changes in beneficial ownership of Pioneer Municipal High Income Advantage Fund, Inc. (MAV).
• On February 29, 2024, PFC disposed of 900 Variable Rate MuniFund Term Preferred Shares (VMTP Shares) due to a redemption by the issuer.
• The redemption price was $100,443.2858 per share, including a liquidation preference of $100,000.00 and accrued dividends of $443.2858.
• Following the transaction, PFC beneficially owns 500 VMTP Shares indirectly through a subsidiary.
• BAC holds an indirect interest in the securities listed due to its indirect ownership of PFC.
• Both BAC and PFC have declared that the filing of this statement should not be construed as an admission that they are acting as a group for the purpose of acquiring, holding, or disposing of securities of the Issuer.

Sentiment

Score: 5

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

Industry Context

Form 4 filings are standard disclosures required by the SEC when there are changes in beneficial ownership of a company's securities, providing transparency to investors.

Stakeholder Impact

• Shareholders are informed about changes in ownership structure.
• The redemption may affect the fund's asset allocation and dividend payouts.

Key Dates