Invesco Advantage Municipal Income Trust II reported fiscal year results for the period ended February 28, 2026. The Trust returned 3.29% at NAV and 12.10% at market price for the year; its style-specific benchmark, the S&P Municipal Bond 5+ Year Investment Grade Index, returned 5.24%. The report notes that leverage represented 36% of total assets and contributed positively to relative performance. Portfolio positioning that affected results included an overweight to health care, overweight to non-rated bonds, state-level contributions from Alabama, and detractors from underweights to tobacco and AA-rated bonds. The filing also discloses changes to the Trust’s Declaration of Trust and Bylaws (forum-selection and remote-meeting provisions) and describes an automatic Dividend Reinvestment Plan. Key market context: municipal new issuance totaled $587 billion and net inflows to municipal funds were $67 billion.
Bank of America Corporation and its affiliate Banc of America Preferred Funding Corporation updated their Schedule 13D for Invesco Advantage Municipal Income Trust II’s Series 2015/6-VKI Variable Rate Muni Term Preferred Shares.
The reporting persons beneficially own 1,469 VMTP Shares, representing 100% of this preferred class, all with shared voting and dispositive power. On April 30, 2026, BAPFC deposited these 1,469 VMTP Shares (CUSIP 46132E855) into a tender option trust and custody arrangement called the TOB 2026-BAP0002 Trust. The TOB Trust holds legal title but cannot independently dispose of the shares. BAPFC remains an indirect beneficial owner through its beneficiary and contractual rights, including voting rights, which also remain subject to an existing Voting Trust.
Invesco Advantage Municipal Income Trust II reported an internal restructuring of preferred share holdings by entities affiliated with Bank of America. On April 30, 2026, Banc of America Preferred Funding Corporation deposited 1,469 Variable Rate Muni Term Preferred Shares into a tender option bond trust structure.
The TOB 2026-BAP0002 Trust now holds title to these VMTP shares, while Banc of America’s subsidiary retains indirect beneficial ownership through its interest in the trust. Bank of America’s interest in the securities is indirect, arising from its ownership of Banc of America Preferred Funding Corporation, and the filing emphasizes that the parties are not admitting membership in any investor group.
Bank of America Corporation and its subsidiary Merrill Lynch, Pierce, Fenner & Smith Incorporated reported same-day trades in Invesco Advantage Municipal Income Trust II common stock. On April 2, 2026, an entity they report acquired 3,359 shares in an open-market purchase at $8.68 per share and then sold 3,359 shares in an open-market sale at the same price, leaving zero shares indirectly held from these transactions. The reporting parties state they disclaim beneficial ownership except to the extent of any pecuniary interest and note that any profit potentially recoverable under Section 16(b) will be remitted to the issuer.
Bank of America Corporation and its subsidiary Merrill Lynch, Pierce, Fenner & Smith Incorporated reported a same-day purchase and sale of Invesco Advantage Municipal Income Trust II common shares. On 01/02/2026, they indirectly purchased 8,531 VKI common shares at a reported non-rounded trade price of $9.0847 per share and then sold 8,531 shares at $9 per share, leaving 0 shares beneficially owned after the transactions.
The reporting persons state the filing is made jointly and that Bank of America’s interest is indirect through its 100% ownership of Merrill Lynch. They disclaim beneficial ownership of the reported securities except to the extent of any pecuniary interest. They further state that, without conceding greater than 10% beneficial ownership or Section 16 status, any profit potentially recoverable under Section 16(b) from the reported transactions will be remitted to the issuer.
The filing is Amendment No. 5 to a Schedule 13D for the SERIES 2015/6-VKI Variable Rate Muni Term Preferred Shares of Invesco Advantage Municipal Income Trust II (CUSIP 46132E855). It reports an executed Amendment to the Variable Rate Muni Term Preferred Shares Purchase Agreement dated September 5, 2025 and discloses that 367 VMTP shares were redeemed by the issuer on September 4, 2025 for liquidation preference plus accumulated dividends. As a result, the reporting persons, Bank of America Corporation and Banc of America Preferred Funding Corp, now beneficially own 1,469 VMTP shares, representing 100.0% of the class. The amendment also replaces prior schedules and exhibits with updated Schedule I, Schedule II and related exhibits.
The filing is Amendment No. 5 to a Schedule 13D for the SERIES 2015/6-VKI Variable Rate Muni Term Preferred Shares of Invesco Advantage Municipal Income Trust II (CUSIP 46132E855). It reports an executed Amendment to the Variable Rate Muni Term Preferred Shares Purchase Agreement dated September 5, 2025 and discloses that 367 VMTP shares were redeemed by the issuer on September 4, 2025 for liquidation preference plus accumulated dividends. As a result, the reporting persons, Bank of America Corporation and Banc of America Preferred Funding Corp, now beneficially own 1,469 VMTP shares, representing 100.0% of the class. The amendment also replaces prior schedules and exhibits with updated Schedule I, Schedule II and related exhibits.
The filing is Amendment No. 5 to a Schedule 13D for the SERIES 2015/6-VKI Variable Rate Muni Term Preferred Shares of Invesco Advantage Municipal Income Trust II (CUSIP 46132E855). It reports an executed Amendment to the Variable Rate Muni Term Preferred Shares Purchase Agreement dated September 5, 2025 and discloses that 367 VMTP shares were redeemed by the issuer on September 4, 2025 for liquidation preference plus accumulated dividends. As a result, the reporting persons, Bank of America Corporation and Banc of America Preferred Funding Corp, now beneficially own 1,469 VMTP shares, representing 100.0% of the class. The amendment also replaces prior schedules and exhibits with updated Schedule I, Schedule II and related exhibits.