PNI 10% Owner JPMorgan Chase Bank Redeems 149 Preferred Shares

What Happened JPMorgan Chase Bank, N.A., reported as a 10% owner of PIMCO New York Municipal Income Fund II (PNI), disposed of 149 remarketable variable rate munifund term preferred shares (Series 2054-A) on August 24, 2026. The shares were redeemed by the issuer at a redemption price of $100,211.23288 per share (comprised of a $100,000.00 liquidation preference plus $211.23288 in accrued dividends), resulting in proceeds of roughly $14,931,473.70. This was a redemption by the issuer, not an open-market sale by the insider.

Key Details

• Transaction date: 2026-08-24; Form 4 filed 2026-08-25.
• Transaction type/code: Other acquisition or disposition (code J) — redemption by the issuer.
• Shares disposed: 149 RVMTP Shares, Series 2054-A.
• Price per share: $100,211.23288 (includes $100,000 liquidation preference + $211.23288 accrued dividends).
• Approximate total proceeds: $14.93 million.
• Shares owned after transaction: Not specified in the filing.
• Footnote: Confirms the disposal was a redemption by the issuer at the stated redemption price.
• Filing timeliness: No late filing indicated (filed one day after the transaction date).

Context This was an institutional redemption of preferred shares by the issuer and not an executive selling into the market. Such redemptions are routine corporate actions reflecting the issuer's call/redemption terms and do not by themselves signal insider confidence or lack thereof.