Nuveen New York fund (NYSE: NAN) sees 3,000-share Bank of America trade
Rhea-AI Filing Summary
NUVEEN NEW YORK QUALITY MUNICIPAL INCOME FUND reported offsetting insider trades by affiliates of Bank of America Corporation and Merrill Lynch, Pierce, Fenner & Smith Incorporated. On May 19, 2026, they sold 3,000 shares of Common Stock at $11.375 per share and bought 3,000 shares at $11.28 per share in open‑market transactions, ending with 3,000 shares reported as indirectly held.
The reporting persons jointly filed the statement, note that Bank of America’s interest is indirect through its 100% ownership of Merrill Lynch, and disclaim beneficial ownership except for any pecuniary interest. They also state that any profit potentially recoverable under Section 16(b) will be remitted to the fund if applicable.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
BANK OF AMERICA CORP /DE/, MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
Role
10% Owner | 10% Owner
Bought
3,000 shs ($34K)
Sold
3,000 shs ($34K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 3,000 | $11.28 | $34K |
| Sale | Common Stock | 3,000 | $11.375 | $34K |
Holdings After Transaction:
Common Stock — 0 shares (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.
Key Figures
Shares sold: 3,000 shares
Sale price: $11.375 per share
Shares purchased: 3,000 shares
+3 more
6 metrics
Shares sold
3,000 shares
Open-market sale of Common Stock at $11.375 on May 19, 2026
Sale price
$11.375 per share
Price for 3,000 NAN common shares sold on May 19, 2026
Shares purchased
3,000 shares
Open-market purchase of Common Stock at $11.28 on May 19, 2026
Purchase price
$11.28 per share
Price for 3,000 NAN common shares bought on May 19, 2026
Net buy/sell shares
0 shares
Transaction summary netBuySellShares shows neutral activity
Shares held after
3,000 shares
Total common shares indirectly owned after purchase transaction
Key Terms
beneficial ownership, pecuniary interest, Section 13(d), Section 16(a), +2 more
6 terms
beneficial ownership financial
"Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein"
Section 13(d) regulatory
"for the purposes of Section 13(d) of the Exchange Act or any other purpose"
Section 16(a) regulatory
"the reported transactions are subject to disclosure under Section 16(a) of the Exchange Act"
Section 16(b) regulatory
"short-swing profit recovery under Section 16(b) of the Exchange Act"
A federal rule that requires company insiders—like officers, directors and large shareholders—to return any profits made from buying and selling the company’s stock within a six-month window. It matters to investors because it discourages short-term trades that could exploit non-public information and helps protect outside shareholders by creating a simple, enforceable way to recover unfair gains, much like a rule stopping someone from flipping a limited-edition item for quick profit after getting early access.
greater than 10% beneficial owner financial
"Without conceding its status as a greater than 10% beneficial owner or that the reported transactions are subject to disclosure"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did NAN report for Bank of America and Merrill Lynch?
The filing shows affiliates of Bank of America and Merrill Lynch sold 3,000 NAN common shares at $11.375 and bought 3,000 shares at $11.28 on May 19, 2026, ending with 3,000 shares indirectly held.
Was the Bank of America and Merrill Lynch trading in NAN net buying or selling?
The trades in NAN were net neutral. The reporting persons sold 3,000 common shares and bought 3,000 common shares on the same date, resulting in no net change in shares traded and 3,000 shares indirectly owned afterward.
What do Bank of America and Merrill Lynch say about potential Section 16(b) profit on NAN trades?
The reporting persons state that, without conceding 10% beneficial owner status, any profit potentially recoverable by the fund under Section 16(b) from the reported transactions will be remitted to the issuer if the Section 16(b) provisions were deemed applicable.
Are Bank of America and Merrill Lynch part of a group for NAN under Section 13(d)?
The filing states each reporting person declares that nothing in the statement should be construed as an admission they are acting as a group or are members of any group regarding NAN securities for Section 13(d) or any other purpose.