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Bank of America Corp. (NYSE:BAC) recently disclosed a transaction involving the Nuveen Quality Municipal Income Fund (NYSE:NAD). The financial giant sold 2,103 shares of the fund’s common stock on April 16, generating a total of $23,302. The shares were sold at an average price of $11.0808 each. The $2.6 billion fund offers an attractive 8.13% dividend yield and has maintained dividend payments for 27 consecutive years, according to InvestingPro data.
On the same day, Bank of America also acquired 2,103 shares at a slightly higher price of $11.0897 per share, totaling $23,321. These transactions reflect the company’s ongoing management of its investment portfolio, with Merrill Lynch, Pierce, Fenner & Smith Inc., a subsidiary of Bank of America, also involved in the filing. The transactions emphasize Bank of America’s active role as a significant stakeholder in the fund.
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