U.S. may expand Nvidia and AMD’s 15% China chips deal to other companies
Bank of America Corp (NYSE:BAC) recently reported a series of transactions involving the Putnam Managed Municipal Income Trust (NYSE:PMM), a fund currently valued at $269.32 million with a notable 4.76% dividend yield. On January 10, 2025, Bank of America executed several transactions, including both acquisitions and disposals of common stock.
The financial institution acquired 16,585 shares at an approximate price of $6.02 per share, culminating in a total acquisition value of $99,841. However, the more significant activity involved the sale of multiple blocks of shares, totaling 16,485 shares at $6.00 per share, resulting in a total sale value of $99,510.
These transactions reflect Bank of America's active management of its holdings in the Putnam Managed Municipal Income Trust. The shares were held indirectly, as indicated by the footnotes in the filing, through its wholly-owned subsidiary, Merrill Lynch, Pierce, Fenner & Smith Inc.
Investors may find these activities notable as they reflect the strategic decisions of one of the major financial institutions regarding its stake in the municipal income trust.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.