Form 4: TD Investments Disposes of Municipal Shares

Toronto Dominion Investments LLC redeemed 990 Muni-MultiMode Preferred Shares from abrdn National Municipal Income Fund for $100,136.68 per share.

Summary

• Toronto Dominion Investments LLC (TDI) has disposed of 990 Muni-MultiMode Preferred Shares (MMP Shares) in the abrdn National Municipal Income Fund.
• The transaction occurred on June 16, 2026, and was a redemption by the issuer.
• The redemption price per share was $100,136.68, which includes a liquidation preference of $100,000.00 and accrued dividends of $136.68.
• TDI is an indirect wholly owned subsidiary of The Toronto-Dominion Bank (TD Bank).
• The filing is a joint filing by TD Bank, TDI, Toronto Dominion Holdings (U.S.A.), Inc. (TDH), and TD Group US Holdings LLC (TD GUS).
• TDH is the sole owner of TDI, and TD GUS is the sole owner of TDH. TD Bank is the sole owner of TD GUS, indicating an indirect ownership interest in the disposed shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it reports a standard transaction (redemption of preferred shares) without indicating significant positive or negative performance for the issuer or the reporting entity.

Negatives

• The disposal of 990 Muni-MultiMode Preferred Shares represents a reduction in investment for the Toronto-Dominion Bank's subsidiaries in the abrdn National Municipal Income Fund.

Future Outlook

This filing does not contain forward-looking statements or guidance.

Industry Context

StockSavvy.ai notes that this Form 4 filing indicates a divestment by a significant entity, Toronto Dominion Investments LLC, from the abrdn National Municipal Income Fund. Such transactions can signal shifts in investment strategy or portfolio adjustments by large holders.

Stakeholder Impact

• Shareholders of abrdn National Municipal Income Fund may observe a change in the ownership structure due to the redemption of shares by a significant holder.
• The Toronto-Dominion Bank and its subsidiaries are reducing their direct investment in the abrdn National Municipal Income Fund.

Key Dates

Keywords

Form 4, SEC Filing, Toronto Dominion Investments, abrdn National Municipal Income Fund, Muni-MultiMode Preferred Shares, Redemption, Beneficial Ownership, Securities Exchange Act