DMF BNY MELLON MUNICIPAL INCOME, INC. Insider Trading

Bank of America 10% owner executes 17 separate sales totaling 4,543 shares for $30,440.22, reducing holdings to zero.

Bank of America Corp as a 10% owner engaged in 17 separate sales totaling 4,543 shares for $30,440.22 between November 2021 and April 2024, completely exiting its position in BNY Mellon Municipal Income Inc. The pattern shows no persistent directional conviction: a series of small sales (2–55 shares) in late 2021, thin activity throughout 2022, and a concentrated exit in June 2023 (when 3,298 shares were purchased on 2023-06-12 at $6.30 and then 3,888 shares sold at $6.30–$6.29 on 2023-06-13). The final holdings post-transaction show 0 shares held, a -100.0% reduction from the 34 shares held pre-transaction. These discrete, sporadic sales over a 2.5-year period with no material gaps between buys and sells suggest administrative or liquidity management rather than a signal of material concern or confidence in the municipal bond fund's direction.

Saba Capital (10% owner) sold 331,567 shares over 2 days at $7.35–$7.36 avg; reduces stake by 13.9% to 2.05M shares

Saba Capital Management executed 2 separate sales totaling 331,567 shares for $2,437,012.09 ($2.4M), reducing its holding by 13.9% from 2.38M to 2.05M shares. The blended average sale price of $7.35 is within 0.7% of the current price of $7.30 and 1.7% below the 52-week high of $7.48, placing the sales near recent market levels without clear directional timing signal. This represents a material reduction in Saba Capital's position as a 10% owner, though the firm retains a substantial 2.05M-share stake in the fund. Across all open-market activity (cross-ticker), Saba Capital has 18 prior buys to 2 prior sells, indicating this sale deviates from the firm's predominantly accumulative pattern.