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AFB

AllianceBernstein National Municipal Income Fund
AFB

57 hedge funds and large institutions have $57.2M invested in AllianceBernstein National Municipal Income Fund in 2017 Q1 according to their latest regulatory filings, with 11 funds opening new positions, 16 increasing their positions, 15 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

38% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 8

11% more capital invested

Capital invested by funds: $51.7M → $57.2M (+$5.53M)

2% more funds holding

Funds holding: 56 → 57 (+1)

1.57% more ownership

Funds ownership: 13.59% → 15.16% (+1.6%)

7% more repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 15

Holders
57
Holders Change
+1
Holders Change %
+1.79%
% of All Funds
1.42%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
11
Increased
16
Reduced
15
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$3.99M
2
Ameriprise
Ameriprise
Minnesota
+$1.9M
3
RCM
Robinson Capital Management
Michigan
+$1.41M
4
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
+$1M
5
Wells Fargo
Wells Fargo
California
+$678K

Top Sellers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
-$2.66M
2
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
-$891K
3
Morgan Stanley
Morgan Stanley
New York
-$438K
4
UBS Group
UBS Group
Switzerland
-$337K
5
LCM
Landscape Capital Management
New Jersey
-$330K
Name Holding Trade Value Shares
Change 		Change in
Stake
WTC
51
WhitTier Trust Company
Nevada
$31K – – –
PFO
52
Pathstone Family Office
New Jersey
$24K +$24K +1,801 New
IA
53
IFP Advisors
Florida
$13K – – –
NFG
54
Next Financial Group
Texas
$7K -$39.3K -2,943 -85%
MA
55
MUFG Americas
New York
$3K +$3.04K +228 New
AAP
56
Arax Advisory Partners
Colorado
$2K +$13 +1 +0.5%
VCM
57
Vivaldi Capital Management
Illinois
$1.14K +$1.13M +85,007 New
VKH
58
Virtu KCG Holdings
New York
– -$258K -19,541 Closed
Millennium Management
59
Millennium Management
New York
– -$161K -12,184 Closed
Squarepoint
60
Squarepoint
New York
– -$145K -11,000 Closed
Citadel Advisors
61
Citadel Advisors
Florida
– -$138K -10,415 Closed
Bank of Montreal
62
Bank of Montreal
Ontario, Canada
– -$96K -7,371 Closed
TWA
63
TCI Wealth Advisors
Arizona
– -$66K -5,000 Closed
CAPTRUST Financial Advisors
64
CAPTRUST Financial Advisors
North Carolina
– -$12K -915 Closed
Manulife (Manufacturers Life Insurance)
65
Manulife (Manufacturers Life Insurance)
Ontario, Canada
– -$6K -418 Closed
1 2
3

AFB Hedge Fund Activity: Q1 2017 in Review

57 of the 4,017 institutional investors tracked by Wall St. Rank reported a position in AllianceBernstein National Municipal Income Fund (AFB) for Q1 2017, worth a combined $57.2M — up 11% from $51.7M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new AFB positions and 8 closed out — a net gain of 3 holders — while 16 added to existing stakes and 15 trimmed.

The largest buyer was Karpus Investment Management, adding an estimated $3.99M. The largest seller was Rivernorth Capital Management, cutting an estimated $2.66M.

  • 57 institutional investors held AllianceBernstein National Municipal Income Fund (AFB) as of Q1 2017, up from 56 in Q4 2016.
  • Funds reported $57.2M of AllianceBernstein National Municipal Income Fund stock for Q1 2017, up 11% quarter-over-quarter.
  • 11 funds opened new AllianceBernstein National Municipal Income Fund positions in Q1 2017 and 8 closed out, a net change of +3 holders.
  • The largest AllianceBernstein National Municipal Income Fund buyer in Q1 2017 was Karpus Investment Management, an estimated $3.99M added.
  • The largest AllianceBernstein National Municipal Income Fund seller in Q1 2017 was Rivernorth Capital Management, an estimated $2.66M sold.

Based on aggregated 13F filings for Q1 2017.