Bank of America unit trades NMZ shares
Rhea-AI Filing Summary
Bank of America Corporation and its subsidiary Merrill Lynch, Pierce, Fenner & Smith Incorporated jointly report indirect trades in NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND common stock on 2026-07-24, purchasing 9 shares at $10.235 and selling 9 shares at $10.175. The positions are held indirectly through Merrill Lynch, with both reporting persons disclaiming beneficial ownership except for any pecuniary interest and not conceding greater-than-10% beneficial-owner status or group status. They state that any profit potentially recoverable as short-swing profit under Section 16(b), if they were deemed greater-than-10% 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
9 shs ($92.12)
Sold
9 shs ($91.58)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | COMMON STOCK F1, F2, F3 | 9 | $10.235 | $92.12 |
| Sale | COMMON STOCK F1, F2, F3 | 9 | $10.175 | $91.58 |
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 purchased: 9 shares
Purchase price: $10.235 per share
Shares sold: 9 shares
+2 more
5 metrics
Shares purchased
9 shares
Indirect purchase of NMZ common stock on 2026-07-24
Purchase price
$10.235 per share
Price for 9 NMZ shares bought on 2026-07-24
Shares sold
9 shares
Indirect sale of NMZ common stock on 2026-07-24
Sale price
$10.175 per share
Price for 9 NMZ shares sold on 2026-07-24
Net shares traded
0 shares
Equal 9-share purchase and 9-share sale, netting to zero
Key Terms
beneficial ownership, pecuniary interest, Section 13(d), Section 16(b), +1 more
5 terms
beneficial ownership regulatory
"Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent"
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 regulatory
"disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest"
Section 13(d) regulatory
"for the purposes of Section 13(d) of the Exchange Act or any other purpose"
A Section 13(d) filing is a public disclosure required under U.S. securities law when a person or group acquires more than 5% of a company’s registered equity and may influence control. The filer must report who owns the shares, how they were acquired, and any plans or intentions for the company, so the market and other shareholders can see if a large buyer is attempting a takeover or other strategic move. Think of it like a formal announcement that someone has crossed a threshold and is showing their hand.
Section 16(b) regulatory
"short-swing profit recovery under Section 16(b) of the Exchange Act, the amount of profit potentially"
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.
short-swing profit regulatory
"the amount of profit potentially recoverable by the Issuer from the reported transactions in the event"
Short-swing profit is any gain an insider makes from buying and selling (or selling and buying) the same company's stock or options within a six-month window; regulators treat those quick trades as presumptively improper and typically require the profits to be returned. Think of it like flipping a concert ticket for a quick markup — the law prevents insiders with privileged access from keeping those fast gains, which protects ordinary investors and promotes fair markets.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What NMZ insider transactions did Bank of America and Merrill Lynch report?
They reported one purchase and one sale of NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND (NMZ) common stock on 2026-07-24. Both trades were indirect through Merrill Lynch, with 9 shares bought and 9 shares sold, and beneficial ownership broadly disclaimed.
Do Bank of America and Merrill Lynch concede greater-than-10% ownership of NMZ?
No. Although each is identified as a greater-than-10% owner, they explicitly state they are not conceding that status. They also disclaim beneficial ownership of the securities, except to the extent of any pecuniary interest they may have.
What do the reporting persons say about potential short-swing profits in NMZ?
They state that any profit potentially recoverable by the issuer under Section 16(b), if they were deemed greater-than-10% owners and the trades were covered, will be remitted to the issuer, without conceding that Section 16 applies.
Are the NMZ trades by Bank of America and Merrill Lynch part of a group arrangement?
The reporting persons expressly state they are not part of a group under Section 13(d) or otherwise. They declare the report should not be construed as evidence that they are acting together with any other person regarding NMZ securities.
AI-generated analysis. How Rhea-AI works. Not financial advice.
