Nuveen Municipal Credit (NMCO) shares traded by Bank of America unit
Rhea-AI Filing Summary
Bank of America Corporation and its wholly owned subsidiary Merrill Lynch, Pierce, Fenner & Smith Incorporated reported indirect trades in Nuveen Municipal Credit Opportunities Fund common stock. They purchased 1,000 shares on May 18 at $10.61 per share, then sold 1,000 shares on May 19 at $10.53 per share, leaving no shares reported as held afterward. The reporting persons disclaim beneficial ownership except for any pecuniary interest and state that any profit potentially recoverable under Section 16(b) if they were greater than 10% beneficial owners will be remitted to the issuer.
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
1,000 shs ($11K)
Sold
1,000 shs ($11K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 1,000 | $10.53 | $11K |
| Purchase | Common Stock | 1,000 | $10.61 | $11K |
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
Open-market purchase: 1,000 shares at $10.61
Open-market sale: 1,000 shares at $10.53
Shares after sale: 0 shares
+1 more
4 metrics
Open-market purchase
1,000 shares at $10.61
Common stock bought indirectly on May 18
Open-market sale
1,000 shares at $10.53
Common stock sold indirectly on May 19
Shares after sale
0 shares
Total shares following May 19 transaction entry
Buy and sell counts
1 buy, 1 sell
Transaction summary for this Form 4
Key Terms
beneficial ownership, pecuniary interest, Section 13(d) of the Exchange Act, Section 16(b) of the Exchange Act, +1 more
5 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, if any"
Section 13(d) of the Exchange Act regulatory
"for the purposes of Section 13(d) of the Exchange Act or any other purpose"
Section 16(b) of the Exchange Act regulatory
"short-swing profit recovery under Section 16(b) of the Exchange Act, the amount of profit potentially recoverable"
greater than 10% beneficial owner regulatory
"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
Were the NMCO trades by Bank of America direct or indirect holdings?
The Form 4 states the Nuveen Municipal Credit Opportunities Fund trades were reported as indirect holdings. Both transactions list ownership as indirect with a “See Footnotes” notation, and the footnotes explain Bank of America’s interest arises through its 100% ownership of Merrill Lynch.
What do the Form 4 footnotes say about potential Section 16(b) profit on NMCO trades?
The footnotes state that, without conceding greater than 10% beneficial owner status, any profit potentially recoverable by the issuer from these Nuveen Municipal Credit Opportunities Fund transactions under Section 16(b) of the Exchange Act will be remitted to the issuer.
Are Bank of America and Merrill Lynch acting as a group regarding NMCO securities?
The reporting persons declare that neither the joint filing nor its content should be seen as an admission they are acting as a group for acquiring, holding, or disposing of Nuveen Municipal Credit Opportunities Fund securities, or that they are members of any such group under Section 13(d).