Bank of America (NYSE: NBH) logs offsetting insider trades in fund shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Bank of America Corporation and its subsidiary Merrill Lynch, Pierce, Fenner & Smith, as reporting persons for Neuberger Municipal Fund Inc. (NBH), reported mixed indirect trades in the fund’s common stock on May 20, 2026. They executed two open-market sales totaling 3,200 shares at $10.1109 per share and one open-market purchase of 3,200 shares at $10.26 per share, leaving 3,200 shares indirectly held after the transactions. The footnotes state that each reporting person disclaims beneficial ownership except to any pecuniary interest and that any profit potentially recoverable under Section 16(b) will be remitted to the issuer.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
BANK OF AMERICA CORP /DE/, MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
Role
null | null
Bought
3,200 shs ($33K)
Sold
3,200 shs ($32K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 3,200 | $10.26 | $33K |
| Sale | Common Stock | 2,000 | $10.1109 | $20K |
| Sale | Common Stock | 1,200 | $10.1109 | $12K |
Holdings After Transaction:
Common Stock — 3,200 shares (Indirect, See Footnotes)
Footnotes (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. 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. 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
First sale size: 1,200 shares at $10.1109
Second sale size: 2,000 shares at $10.1109
Purchase size: 3,200 shares at $10.26
+2 more
5 metrics
First sale size
1,200 shares at $10.1109
Open-market sale of NBH common stock on May 20, 2026
Second sale size
2,000 shares at $10.1109
Open-market sale of NBH common stock on May 20, 2026
Purchase size
3,200 shares at $10.26
Open-market purchase of NBH common stock on May 20, 2026
Net shares traded
0 shares net
3,200 shares sold and 3,200 shares purchased, net neutral
Shares held after
3,200 shares
Indirect NBH common stock position following reported transactions
Key Terms
open-market sale, open-market purchase, indirect interest, beneficial ownership, +2 more
6 terms
open-market sale financial
"They executed two open-market sales totaling 3,200 shares at $10.1109 per share"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
open-market purchase financial
"and one open-market purchase of 3,200 shares at $10.26 per share"
An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.
indirect interest financial
"Bank of America Corporation holds an indirect interest in the securities listed"
beneficial ownership financial
"Each Reporting Person disclaims beneficial ownership of the securities reported herein"
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
"except to the extent of its pecuniary interest therein, if any"
Section 16(b) regulatory
"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)"
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.
FAQ
What insider transactions did Bank of America report for NBH on May 20, 2026?
Bank of America and Merrill Lynch reported two open-market sales and one open-market purchase of NBH common stock on May 20, 2026. They sold 3,200 shares at $10.1109 and bought 3,200 shares at $10.26, ending with 3,200 shares indirectly held.
Did Bank of America’s NBH trades result in a net buy or sell position?
The reported NBH trades were net neutral in share count. Bank of America and Merrill Lynch sold 3,200 shares and purchased 3,200 shares, resulting in no net change in shares traded and 3,200 NBH shares indirectly held afterward.
What do the reporting persons say about potential Section 16(b) profit on these NBH trades?
The filing notes that, without conceding greater than 10% beneficial owner status, any profit potentially recoverable by the issuer under Section 16(b) from these transactions will be remitted. This statement addresses possible short-swing profit recovery under the Exchange Act.