Financial institution of America sells $865 in Nuveen municipal fund inventory

Financial institution of America Company (NYSE:BAC) lately reported a transaction involving the Nuveen Municipal Excessive Revenue Alternative (SO:FTCE11B) Fund (NYSE:NMZ). On December 3, Financial institution of America bought 75 shares of widespread inventory at a median value of $11.5405 per share, totaling roughly $865. The transaction left the corporate with no shares owned following the sale. The fund, with a market capitalization of $1.28 billion, has delivered spectacular returns with a 24% acquire year-to-date and presently provides a considerable 6.79% dividend yield.

Moreover, Financial institution of America acquired 75 shares on the identical day at a median value of $11.545 per share, additionally totaling $865. The transactions had been filed collectively with Merrill Lynch, Pierce, Fenner & Smith Inc., a completely owned subsidiary of Financial institution of America. Each corporations are listed as better than 10% helpful house owners of the fund.

These transactions are a part of the routine disclosures required for vital shareholders and supply perception into the buying and selling actions of huge monetary establishments.

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