BANK OF AMERICA CORP /DE/ 4

What Happened

• The reporting persons are Bank of America Corporation and its subsidiary Merrill Lynch. On 2026-03-19 they executed offsetting open-market transactions in Putnam Municipal Opportunities Trust (PMO): purchased 50 shares at $10.57 each (total $528.50) and sold 50 shares at $10.53 each (total $526.50). The two trades largely offset one another (net proceeds ≈ $2).

Key Details

• Transaction date: 2026-03-19.
• Purchase: 50 shares at $10.57 ($528.50).
• Sale: 50 shares at $10.53 ($526.50).
• Filing date (Form 4): 2026-03-23 (4 days after the trades).
• Shares owned after transaction: Not disclosed in the Form 4 summary provided.
• Notable footnotes:
  • F1: Statement is jointly filed by Bank of America and Merrill Lynch; BofA holds an indirect interest via 100% ownership of Merrill and disclaims beneficial ownership except to the extent of any pecuniary interest.
  • F2: Reporting persons disclaim forming a group for purposes of Section 13(d).
  • F3: Without conceding >10% status, they state any short-swing profit potentially recoverable under Section 16(b) will be remitted to the issuer if applicable.

Context

• These are institutional-level trades reported by a reporting person listed as a 10% owner (with disclaimers). The paired buy and sell on the same day suggests a round-trip trade rather than a clear directional bet; purchases are generally more informative than sales, but here the net economic effect is negligible. The filing date is a few days after the trades—Form 4s are typically due within two business days, so review the original filing for any timeliness explanation.