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Bank of America (NAD) discloses same-day NAD share round-trip trade

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Bank of America Corporation and its subsidiary Merrill Lynch, Pierce, Fenner & Smith Incorporated reported a same-day purchase and sale of common shares of Nuveen Quality Municipal Income Fund. On 01/02/2026, they acquired 6,374 common shares at a price of $12.005 per share in an indirect capacity, then sold 6,374 common shares at a price of $11.9915 per share, leaving 0 shares beneficially owned after the transactions. The reporting persons state that they disclaim beneficial ownership except to any pecuniary interest and that any profit potentially recoverable by the fund under Section 16(b) will be remitted to the issuer.

Positive

  • None.

Negative

  • None.
Insider BANK OF AMERICA CORP /DE/, MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
Role 10% Owner | 10% Owner
Bought 6,374 shs ($77K)
Sold 6,374 shs ($76K)
Type Security Shares Price Value
Purchase Common Stock 6,374 $12.005 $77K
Sale Common Stock 6,374 $11.9915 $76K
Holdings After Transaction: Common Stock — 0 shares (Indirect, See Footnotes)
Footnotes (4)
  1. 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.
  2. 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.
  3. 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.
  4. F4. Non-rounded trade price is $11.991548

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FAQ

What insider transaction did NAD report involving Bank of America and Merrill Lynch?

The report shows that Bank of America Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated indirectly purchased 6,374 common shares of Nuveen Quality Municipal Income Fund (NAD) at $12.005 per share on 01/02/2026, and sold 6,374 shares at $11.9915 per share the same day, resulting in 0 shares beneficially owned after the transactions.

Are Bank of America and Merrill Lynch considered more than 10% owners of NAD in this filing?

The reporting persons reference potential status as greater than 10% beneficial owners but expressly state they are not conceding that status and disclaim that this filing is an admission that they are greater than 10% beneficial owners of NAD.

How do Bank of America and Merrill Lynch describe their beneficial ownership of NAD shares?

Bank of America Corporation indicates it holds an indirect interest in the securities through its 100% ownership of Merrill Lynch. Each reporting person disclaims beneficial ownership of the reported securities except to the extent of any pecuniary interest.

What does the filing say about potential short-swing profit recovery for NAD?

The reporting persons state that, without conceding greater than 10% beneficial ownership or Section 16 applicability, the amount of profit potentially recoverable by the issuer from the reported transactions under Section 16(b) will be remitted to Nuveen Quality Municipal Income Fund.

Were the NAD transactions reported as direct or indirect ownership by Bank of America and Merrill Lynch?

The 6,374 purchased shares and the 6,374 sold shares of NAD are reported as held under indirect ownership, with the nature of beneficial ownership described in the accompanying explanatory footnotes.

Who signed the NAD Form 4 on behalf of the reporting persons?

The Form 4 is signed for BANK OF AMERICA CORP /DE/ and for MERRILL LYNCH, PIERCE, FENNER & SMITH INC. by an authorized signatory, /s/ Andres Ortiz, dated 01/05/2026.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
BANK OF AMERICA CORP /DE/
(Last) (First) (Middle)
BANK OF AMERICA CORPORATE CENTER
100 N TRYON ST
(Street)
CHARLOTTE NC 28255
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Nuveen Quality Municipal Income Fund [ NAD ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
01/02/2026
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock(1)(2)(3) 01/02/2026 P 6,374 A $12.005 6,374 I See Footnotes(1)(2)(3)
Common Stock(1)(2)(3) 01/02/2026 S 6,374 D $11.9915(4) 0 I See Footnotes(1)(2)(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
BANK OF AMERICA CORP /DE/
(Last) (First) (Middle)
BANK OF AMERICA CORPORATE CENTER
100 N TRYON ST
(Street)
CHARLOTTE NC 28255
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
(Last) (First) (Middle)
ONE BRYANT PARK
(Street)
NEW YORK NY 10036
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. 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.
2. 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.
3. 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.
4. Non-rounded trade price is $11.991548
BANK OF AMERICA CORP /DE/ By: Its: Authorized Signatory /s/ Andres Ortiz 01/05/2026
MERRILL LYNCH, PIERCE, FENNER & SMITH INC. By: Its: Authorized Signatory /s/ Andres Ortiz 01/05/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR