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In a recent transaction, Bank of America Corp (NYSE:BAC), along with its subsidiary Merrill Lynch, Pierce, Fenner & Smith Inc., reported the sale of shares in the Nuveen Municipal Credit Income Fund (NYSE:NZF). The sale, which took place on March 11, 2025, involved the disposal of shares valued at approximately $12, with a per-share price of $12.485.
The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission, indicating that both Bank of America and Merrill Lynch are significant stakeholders, holding more than 10% of the fund. The sale was executed at a slightly higher price than a previous purchase on the same day, where shares were acquired at $12.425 each. The fund, with a market capitalization of $2.39 billion, has demonstrated relatively low volatility with a beta of 0.67.
These transactions reflect the ongoing management of equity positions by major financial institutions, with Bank of America maintaining an indirect interest in the securities through its full ownership of Merrill Lynch. The company has made it clear that the filing does not imply any admission of beneficial ownership beyond their pecuniary interest. InvestingPro analysis shows the fund maintains a "GOOD" overall financial health score, with additional key metrics and insights available to subscribers.
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