Bank of America Corporation (NYSE:BAC) recently reported a transaction involving the Nuveen Municipal High Income Opportunity (SO:FTCE11B) Fund (NYSE:NMZ). On December 3, Bank of America sold 75 shares of common stock at an average price of $11.5405 per share, totaling approximately $865. The transaction left the company with no shares owned following the sale. The fund, with a market capitalization of $1.28 billion, has delivered impressive returns with a 24% gain year-to-date and currently offers a substantial 6.79% dividend yield.
Additionally, Bank of America acquired 75 shares on the same day at an average price of $11.545 per share, also totaling $865. The transactions were filed jointly with Merrill Lynch, Pierce, Fenner & Smith Inc., a wholly owned subsidiary of Bank of America. Both companies are listed as greater than 10% beneficial owners of the fund.
These transactions are part of the routine disclosures required for significant shareholders and provide insight into the trading activities of large financial institutions.
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