BANK OF AMERICA CORP /DE/ 4
4 · PUTNAM MANAGED MUNICIPAL INCOME TRUST · Filed Jul 20, 2026
Research Summary
AI-generated summary of this filing
PMM: Bank of America (10% Owner) Sells and Buys 437 Shares
What Happened
Bank of America Corporation (reported as a 10% owner, filing jointly with Merrill Lynch) executed a small round-trip trade in Putnam Managed Municipal Income Trust (PMM) stock. On 2026-07-16 it sold 437 shares at $6.54 each (proceeds ~$2,856). On 2026-07-17 it purchased 437 shares at $6.54 each (cost ~$2,858). Both transactions were reported on a Form 4 filed 2026-07-20.
Key Details
- Transactions: 2026-07-16 — Sale (S) 437 shares @ $6.54 (≈ $2,856); 2026-07-17 — Purchase (P) 437 shares @ $6.54 (≈ $2,858).
- Shares owned after transaction: Not disclosed in the provided filing excerpt.
- Filing date: Form 4 filed 2026-07-20 reporting the 7/16–7/17 transactions.
- Footnotes: Joint filing by Bank of America and Merrill Lynch; Bank of America holds the interest indirectly via Merrill Lynch and disclaims beneficial ownership except to the extent of any pecuniary interest. The filing also states, without conceding >10% status, that any short-swing profits potentially recoverable under Section 16(b) would be remitted to the issuer.
- Transaction codes: S = Sale, P = Purchase. No options, gifts, or tax-withholding noted.
Context
This is an institutional, small-dollar round-trip (about $2.9k each way) rather than an officer/director trade. Purchases generally attract more attention as potential bullish signals, but here the near-identical sale and repurchase on consecutive days suggest a routine or technical trade rather than a clear change in insider sentiment. The filing includes standard disclaimers about beneficial ownership and Section 16 implications.
Insider Transaction Report
- Purchase
COMMON STOCK
[F1][F2][F3]2026-07-17$6.54/sh+437$2,858→ 437 total(indirect: See Footnotes) - Sale
COMMON STOCK
[F1][F2][F3]2026-07-16$6.54/sh−437$2,856→ 0 total(indirect: See Footnotes)
Footnotes (3)
- [F1]This statement is jointly filed by Bank of America Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") (collectively, the "Reporting Persons"). Bank of America Corporation holds an indirect interest in the securities listed in this Report by virtue of its 100% ownership of its subsidiary Merrill Lynch. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that any such Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Securities Exchange Act of 1934 (the "Exchange Act"), or for any other purpose.
- [F2]Each Reporting Person declares that 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, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
- [F3]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.