PIMCO Municipal Income Fund II has made significant updates to its ownership structure, as disclosed in a recent SEC filing. The filing, dated November 3, 2026, reveals that Bank of America Corporation and Banc of America Preferred Funding Corporation have reduced their holdings in the fund.

This update is particularly important as it indicates a change in the reporting persons' ownership percentage due to the redemption of 1,450 Remarketable Variable Rate MuniFund Term Preferred Shares (RVMTP) held by the reporting persons. Following this redemption, Bank of America now owns 2,410 RVMTP shares, which represents approximately 70.7% of the class.

Background

PIMCO Municipal Income Fund II, listed under the ticker symbol PML on the NYSE, is a mutual fund focused on investing in municipal securities. The fund aims to provide investors with a high level of current income exempt from federal income tax. The fund is incorporated in Massachusetts and has its principal office located at 1633 Broadway, New York, NY.

What the Filing Says

The SEC filing states, "This Amendment No. 6 amends the Statement on Schedule 13D, dated April 17, 2024, by Bank of America Corporation and Banc of America Preferred Funding Corporation with respect to the Remarketable Variable Rate MuniFund Term Preferred Shares of PIMCO Municipal Income Fund II." It further notes that the redemption of shares occurred on October 30, 2026, for a redemption price that includes the liquidation preference and accumulated but unpaid dividends.

Impact

This change in ownership may affect various stakeholders, including investors and market analysts who monitor the fund's performance and its impact on the broader municipal finance market. The reduction in shares held by Bank of America could also influence the competitive dynamics within the municipal finance sector, where other national commercial banks operate.

What's Next

The filing does not specify what happens next regarding the fund's operations or any further changes in ownership.