Invesco Advantage Municipal Income Trust II (VKI) 13D shows 100% class held

Rhea-AI Filing Summary

Bank of America Corporation and its affiliate Banc of America Preferred Funding Corporation updated their Schedule 13D for Invesco Advantage Municipal Income Trust II’s Series 2015/6-VKI Variable Rate Muni Term Preferred Shares.

The reporting persons beneficially own 1,469 VMTP Shares, representing 100% of this preferred class, all with shared voting and dispositive power. On April 30, 2026, BAPFC deposited these 1,469 VMTP Shares (CUSIP 46132E855) into a tender option trust and custody arrangement called the TOB 2026-BAP0002 Trust. The TOB Trust holds legal title but cannot independently dispose of the shares. BAPFC remains an indirect beneficial owner through its beneficiary and contractual rights, including voting rights, which also remain subject to an existing Voting Trust.

Key Figures

Beneficially owned VMTP shares: 1,469 shares Percent of VMTP class owned: 100.0% Shared voting power: 1,469 shares +3 more

6 metrics

Beneficially owned VMTP shares 1,469 shares Series 2015/6-VKI VMTP Shares beneficially owned by reporting persons

Percent of VMTP class owned 100.0% Percent of Series 2015/6-VKI VMTP share class represented by 1,469 shares

Shared voting power 1,469 shares Shares over which reporting persons have shared voting power

Sole voting power 0 shares Shares over which reporting persons have sole voting power

Shared dispositive power 1,469 shares Shares over which reporting persons share dispositive power

Date of triggering event April 30, 2026 Deposit of 1,469 VMTP Shares into TOB 2026-BAP0002 Trust

Key Terms

tender option trust, beneficial ownership, Voting Trust, Schedule 13D, +1 more

5 terms

tender option trust financial

"deposited 1,469 Series 2015/6-VKI VMTP Shares into a tender option trust and custody arrangement"

beneficial ownership financial

"retains an indirect beneficial ownership in the VMTP Shares, including with respect to the voting rights"

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.

Voting Trust financial

"voting rights on the VMTP Shares, which additionally remain subject to the Voting Trust"

A voting trust is an arrangement where shareholders temporarily transfer their voting rights to one or more trusted individuals (trustees) who vote on company matters on their behalf. It matters to investors because it consolidates decision-making power—like handing the car keys to a single driver for a journey—which can stabilize leadership or push through strategic plans but also reduces individual shareholders’ direct influence and can affect the company’s direction and stock value.

Schedule 13D regulatory

"This Amendment No. 6 amends the statement on Schedule 13D dated November 18, 2019"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

dispositive power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: Sole Dispositive Power 0.00 Shared Dispositive Power 1,469.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/04/2026 - 06:59 PM Learn about SEC filing dates

FAQ

What does this Schedule 13D/A filing disclose about VKI’s preferred shares?

The filing shows Bank of America entities beneficially own 1,469 Series 2015/6-VKI variable rate muni term preferred shares, representing 100% of that class, and describes how these shares are held through a tender option trust while retaining indirect beneficial ownership and voting rights.

How many VKI Series 2015/6-VKI VMTP Shares does Bank of America control?

Bank of America Corporation and Banc of America Preferred Funding Corporation report beneficial ownership of 1,469 Series 2015/6-VKI VMTP Shares, with shared voting and shared dispositive power over all of them, representing 100% of this preferred share class outstanding for Invesco Advantage Municipal Income Trust II.

What is the TOB 2026-BAP0002 Trust mentioned in the VKI filing?

The TOB 2026-BAP0002 Trust is a tender option trust and custody arrangement that holds title to 1,469 VKI Series 2015/6-VKI VMTP Shares. It cannot independently dispose of the shares, while Banc of America Preferred Funding Corporation keeps indirect beneficial ownership and related voting rights through contractual and beneficiary interests.

Did Bank of America change its economic interest in VKI’s preferred shares?

The filing describes a change in how the shares are held, not a change in the reported beneficial amount. Banc of America Preferred Funding Corporation deposited 1,469 VMTP Shares into a tender option trust but retains indirect beneficial ownership and voting rights through the trust and an existing Voting Trust arrangement.

What percentage of the VKI preferred share class do the reporting persons own?

The reporting persons state that the 1,469 Series 2015/6-VKI VMTP Shares they beneficially own represent 100.0% of that preferred share class. All of these shares are reported with shared voting power and shared dispositive power, indicating complete class-level control for this security type.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 6)

Invesco Advantage Municipal Income Trust II

(Name of Issuer)

SERIES 2015/6-VKI VARIABLE RATE MUNI TERM PREFERRED SHARES

(Title of Class of Securities)

46132E855

(CUSIP Number)

Bank of America Corporation
Bank of America Corporate Center, 100 N. Tryon Street
Charlotte, NC, 28255
980-825-9256

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

04/30/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 46132E855

1

Name of reporting person

BANK OF AMERICA CORP /DE/

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,469.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,469.00

11

Aggregate amount beneficially owned by each reporting person

1,469.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

100.0 %

14

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13D

CUSIP Number(s): 46132E855

1

Name of reporting person

Banc of America Preferred Funding Corp

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,469.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,469.00

11

Aggregate amount beneficially owned by each reporting person

1,469.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

100.0 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: SERIES 2015/6-VKI VARIABLE RATE MUNI TERM PREFERRED SHARES
(b)	Name of Issuer: Invesco Advantage Municipal Income Trust II
(c)	Address of Issuer's Principal Executive Offices: 1555 PEACHTREE STREET, N.E., SUITE 1800, ATLANTA, GEORGIA , 30309.
Item 1 Comment: This Amendment No. 6 (this "Amendment") amends, as set forth below, the statement on Schedule 13D, dated November 18, 2019 and filed with the SEC on November 27, 2019 (as amended to the date hereof, the "Original Schedule 13D") for Bank of America Corporation ("BAC") and Banc of America Preferred Funding Corporation ("BAPFC") (collectively, the "Reporting Persons") with respect to the Series 2015/6-VKI Variable Rate Muni Term Preferred Shares ("VMTP Shares") of Invesco Advantage Municipal Income Trust II (the "Issuer"). This amendment is being filed in relation to the deposit by BAPFC of 1,469 VMTP Shares (CUSIP No. 46132E855) into a tender option trust and custody arrangement designated as the TOB 2026-BAP0002 Trust on April 30, 2026.
Item 2.	Identity and Background
(c)	Item 2(c) of the Original Schedule 13D is hereby amended by deleting Schedule I referenced therein and replacing it with Schedule I attached as an exhibit to this Amendment. ]
(d)	Item 2(d) of the Original Schedule 13D is hereby amended by deleting Schedule II referenced therein and replacing it with Schedule II attached as an exhibit to this Amendment.
Item 5.	Interest in Securities of the Issuer
(a)	The responses of the Reporting Persons to Rows (7) through (11) of the cover pages of this Statement are incorporated herein by reference.
(b)	The responses of the Reporting Persons to Rows (7) through (11) of the cover pages of this Statement are incorporated herein by reference.
(c)	The responses of the Reporting Persons in Item 3 and Item 4 of this Statement are incorporated herein by reference. On April 30, 2026, Banc of America Preferred Funding Corporation ("BAPFC") deposited 1,469 Series 2015/6-VKI VMTP Shares (CUSIP No. 46132E855) into a tender option trust and custody arrangement designated as the TOB 2026-BAP0002 Trust (the "TOB Trust"). The TOB Trust has title to such VMTP Shares but does not independently have the power to dispose or direct the disposition of such VMTP Shares. BAPFC, as a beneficiary of the Trust and through its contractual rights, retains an indirect beneficial ownership in the VMTP Shares, including with respect to the voting rights on the VMTP Shares, which additionally remain subject to the Voting Trust.
(d)	No other person is known by the Reporting Persons to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the transfer of, the VMTP Shares beneficially owned by the Reporting Persons.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 of the Original Schedule 13D is hereby amended by adding the following language after the last paragraph thereof: "On April 30, 2026, Banc of America Preferred Funding Corporation ("BAPFC") deposited 1,469 Series 2015/6-VKI VMTP Shares (CUSIP No. 46132E855) into a tender option trust and custody arrangement designated as the TOB 2026-BAP0002 Trust (the "TOB Trust"). The TOB Trust has title to such VMTP Shares but does not independently have the power to dispose or direct the disposition of such VMTP Shares. BAPFC, as a beneficiary of the Trust and through its contractual rights, retains an indirect beneficial ownership in the VMTP Shares, including with respect to the voting rights on the VMTP Shares, which additionally remain subject to the Voting Trust.
Item 7.	Material to be Filed as Exhibits.
	Item 7 of the Original Schedule 13D is hereby amended by deleting Exhibit 99.1 and Exhibit 99.2 thereto and the insertion of the following exhibits: Exhibit Description of Exhibit 99.1 Joint Filing Agreement 99.2 Power of Attorney 99.7 Schedule I 99.8 Schedule II

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BANK OF AMERICA CORP /DE/

Signature:	/s/Andres Ortiz
Name/Title:	Authorized Signatory
Date:	05/04/2026

Banc of America Preferred Funding Corp

Signature:	/s/Andres Ortiz
Name/Title:	Authorized Signatory
Date:	05/04/2026