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Bank of America Corp (NYSE:BAC) reported a series of transactions involving the Nuveen Municipal Credit Income Fund (NYSE:NZF) in a recent SEC filing. The fund, which boasts a market capitalization of $2.44 billion and an attractive 7.55% dividend yield, has maintained dividend payments for 25 consecutive years. On February 18, 2025, Bank of America executed both buy and sell transactions of the fund’s common stock.
The financial institution purchased a total of 6,773 shares at a price of $12.65 per share, amounting to a total purchase value of $85,678. Following these acquisitions, Bank of America proceeded to sell 6,773 shares. The sales were executed at prices ranging from $12.505 to $12.51 per share, resulting in a total sale value of $84,730. According to InvestingPro, NZF typically trades with low volatility, evidenced by its beta of 0.64, making it a potentially stable investment option.
These transactions were carried out by Bank of America and its subsidiary, Merrill Lynch, Pierce, Fenner & Smith Inc., both of which are identified as significant stakeholders in the fund, holding more than 10% ownership.
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