Bank of America Corp /DE/ and Merrill Lynch, Pierce, Fenner & Smith Inc. jointly filed a Form 4 with the SEC on October 29, 2026, disclosing a series of purchases and sales of common stock in BlackRock 2037 Municipal Target Term Trust on October 27, 2026.

Key Highlights

  • Purchase: 3,070 shares of common stock were acquired on October 27, 2026, at a price of $22.98 per share.
  • Sales: Three separate sale transactions occurred on October 27, 2026, disposing of 302 shares at $22.165, 1,899 shares at $25.0837, and 869 shares at $25.1607.
  • Resulting ownership: Beneficial ownership fell to 0 shares following the final sale transaction, according to the filing.
  • Indirect ownership: All transactions were reported as indirect beneficial ownership, held through Merrill Lynch, a 100% owned subsidiary of Bank of America Corporation.
  • 10% owner status: Both reporting persons are identified in the filing as 10% owners of the issuer.
  • Section 16(b) disclosure: The filing states that any profit potentially recoverable under Section 16(b) of the Exchange Act "has been or will be remitted to the Issuer."

Bank of America and Merrill Lynch Report Same-Day BMN Share Activity

According to the filing, Bank of America Corp /DE/ and Merrill Lynch, Pierce, Fenner & Smith Inc. jointly reported changes in beneficial ownership of common stock in BlackRock 2037 Municipal Target Term Trust (NASDAQ:BMN), with the earliest transaction dated October 27, 2026. The filing identifies both entities as 10% owners of the issuer, not as directors or officers.

The filing discloses that Bank of America holds its indirect interest in the reported securities through its 100% ownership of subsidiary Merrill Lynch. On October 27, 2026, Merrill Lynch first acquired 3,070 shares at $22.98 per share, bringing beneficial ownership to 3,070 shares. Subsequently, three sales reduced that position to zero: 302 shares were disposed of at $22.165, 1,899 shares at $25.0837, and 869 shares at $25.1607, all on the same date.

The filing includes a disclaimer in which each reporting person states that neither the filing nor its contents "shall be construed as an admission" that either party is acting as a group or is a beneficial owner for purposes of Section 13(d) of the Exchange Act. The filing further notes that any profit potentially recoverable by the issuer under Section 16(b), in the event the reporting persons were found to be greater than 10% beneficial owners subject to that provision, "has been or will be remitted to the Issuer."

What Was Disclosed

Bank of America Corp /DE/ and Merrill Lynch jointly disclosed four transactions in BlackRock 2037 Municipal Target Term Trust common stock on October 27, 2026, including one purchase of 3,070 shares and three sales totaling 3,070 shares, leaving zero shares beneficially owned after the final transaction.