JPMorgan trust RVMTP shares redeemed by MFS
MFS HIGH YIELD MUNICIPAL TRUST redeemed 180 Remarketable Variable Rate Munifund Term Preferred Shares, Series 2051, that were beneficially owned by JPMorgan Chase Bank through a trust.
Sentiment and the balance of points
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Form Type
4
Rhea-AI Filing Summary
MFS HIGH YIELD MUNICIPAL TRUST redeemed 180 Remarketable Variable Rate Munifund Term Preferred Shares, Series 2051, that were beneficially owned by JPMorgan Chase Bank through a trust. The redemption price was $100,000 per share, and JPMorgan now reports holding 330 of these preferred shares following the transaction.
Insider Trade Summary
Other: 180 shares
Other
1 txn
Insider
JPMorgan Chase Bank, N.A.
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Remarketable Variable Rate Munifund Term Preferred Shares | 180 | $0.00 | $0.00 |
Holdings After Transaction:
Remarketable Variable Rate Munifund Term Preferred Shares — 330 shares (Indirect, By Trust)
Footnotes (1)
- F1. The 180 remarketable variable rate munifund term preferred shares reported as disposed of in Table I represent Remarketable Variable Rate Munifund Term Preferred Shares, Series 2051 (the "RVMTP Shares") beneficially owned by JPMorgan Chase Bank, National Association ("JPMCB"). The RVMTP Shares were disposed of as a result of a redemption by the Issuer for a redemption price of $100,000.00 per share (which includes a liquidation preference of $100,000.00 per share and accrued dividends of $0.00 per share).
Key Figures
Preferred shares redeemed: 180 shares
Redemption price per share: $100,000.00 per share
Liquidation preference per share: $100,000.00 per share
+3 more
6 metrics
Preferred shares redeemed
180 shares
Remarketable Variable Rate Munifund Term Preferred Shares, Series 2051
Redemption price per share
$100,000.00 per share
Redemption of RVMTP Shares, Series 2051
Liquidation preference per share
$100,000.00 per share
Specified for RVMTP Shares in redemption footnote
Accrued dividends per share
$0.00 per share
At time of redemption of RVMTP Shares
Shares after transaction
330 shares
RVMTP Shares beneficially owned following transaction
Restructuring shares
180 shares
Classified as restructuring in transaction summary
Key Terms
Remarketable Variable Rate Munifund Term Preferred Shares, RVMTP Shares, liquidation preference, redemption price, +1 more
5 terms
liquidation preference financial
"includes a liquidation preference of $100,000.00 per share and accrued dividends of $0.00 per share"
A liquidation preference is a rule that determines who gets paid first and how much they receive when a company is sold, goes bankrupt, or distributes its assets. It gives certain investors a priority claim—often returning their original investment plus any agreed multiple—before other owners receive money, which shapes how much common shareholders and founders ultimately get; think of it as a front-of-the-line pass that affects payout order and investor returns.
redemption price financial
"disposed of as a result of a redemption by the Issuer for a redemption price of $100,000.00 per share"
The redemption price is the amount of money a person receives when they sell or redeem a bond or investment before it matures. It’s important because it determines how much you get back and can affect your overall profit or loss on the investment. Think of it like the price you get when returning a gift card early—it's the value you receive at that time.
beneficially owned financial
"represent ... Shares, Series 2051 ... beneficially owned by JPMorgan Chase Bank, National Association"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did JPMorgan report in MFS HIGH YIELD MUNICIPAL TRUST (CMU)?
JPMorgan Chase Bank reported a redemption-driven disposition of 180 Remarketable Variable Rate Munifund Term Preferred Shares, Series 2051. These shares were redeemed by the fund at $100,000 per share, leaving JPMorgan with 330 preferred shares beneficially owned through a trust.
What type of security was affected in the CMU insider filing?
The transaction involved Remarketable Variable Rate Munifund Term Preferred Shares, Series 2051, of MFS HIGH YIELD MUNICIPAL TRUST. These are preferred shares with a variable rate and remarketing feature, distinct from the fund’s common shares held by regular investors in the closed-end fund.
Was this CMU Form 4 transaction an open-market sale by JPMorgan?
No, this was not an open-market sale. The 180 preferred shares were disposed of as a result of a redemption by MFS HIGH YIELD MUNICIPAL TRUST, at the stated redemption price, rather than being sold by JPMorgan on the open market.
AI-generated analysis. How Rhea-AI works. Not financial advice.
