BANK OF AMERICA CORP /DE/ 4

What Happened

• Bank of America Corporation (jointly filing with Merrill Lynch), reported an open-market purchase of 65 shares of PIMCO Municipal Income Fund II (PML) at $7.74 ($503 total) and an open-market sale of 65 shares at $7.63 ($496 total) on March 13, 2026. The two offsetting trades resulted in a net cash loss of $7 on identical share counts. This filing is by an institutional 10% owner rather than an individual executive.

Key Details

• Transaction dates and prices: 2026-03-13 — Purchase 65 shares @ $7.74 ($503); Sale 65 shares @ $7.63 ($496).
• Shares owned after transaction: Not specified in the filing.
• Filing date: 2026-03-17 — filed on the second business day after the trades (timely).
• Notable footnotes:
  • F1: Joint filing by Bank of America and Merrill Lynch; each disclaims beneficial ownership except to the extent of any pecuniary interest.
  • F2: Reporting persons state the filing should not be read as forming a group for Section 13(d) purposes.
  • F3: Without conceding Section 16(b) status, they state any short-swing profit potentially recoverable would be remitted to the issuer if applicable.

Context

• These were routine open-market buy and sell transactions by an institutional holder; paired buys and sells of equal size generally don’t indicate a directional insider signal. For retail investors, purchases typically attract more attention than sales, but here the buy and sell offset each other and the amounts are small.