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AFB

AllianceBernstein National Municipal Income Fund
AFB

59 hedge funds and large institutions have $125M invested in AllianceBernstein National Municipal Income Fund in 2019 Q3 according to their latest regulatory filings, with 2 funds opening new positions, 31 increasing their positions, 11 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

182% more repeat investments, than reductions

Existing positions increased: 31 | Existing positions reduced: 11

3% more capital invested

Capital invested by funds: $121M → $125M (+$3.58M)

0.95% more ownership

Funds ownership: 33.08% → 34.03% (+0.95%)

8% less funds holding

Funds holding: 64 → 59 (-5)

71% less first-time investments, than exits

New positions opened: 2 | Existing positions closed: 7

Holders
59
Holders Change
-5
Holders Change %
-7.81%
% of All Funds
1.29%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
2
Increased
31
Reduced
11
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
+$4M
2
1CP
1607 Capital Partners
Virginia
+$1.57M
3
PPA
Parametric Portfolio Associates
Washington
+$1,000K
4
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
+$603K
5
Invesco
Invesco
Georgia
+$552K

Top Sellers

Rank Fund Capital Flow
1
Wells Fargo
Wells Fargo
California
-$3.35M
2
WAM
Wolverine Asset Management
Illinois
-$591K
3
SCM
Saba Capital Management
New York
-$487K
4
AA
AQR Arbitrage
Connecticut
-$294K
5
MIG
Mariner Investment Group
New York
-$214K
Name Holding Trade Value Shares
Change 		Change in
Stake
BFEC
51
Benjamin F. Edwards & Company
Missouri
$61K -$12.9K -942 -18%
GI
52
Gradient Investments
Minnesota
$43K – – –
MA
53
MCF Advisors
Kentucky
$37K +$369 +27 +1%
CI
54
CX Institutional
Indiana
$17K – – –
ASN
55
Advisory Services Network
Georgia
$12K – – –
Carson Wealth (CWM LLC)
56
Carson Wealth (CWM LLC)
Nebraska
$11K – – –
RCM
57
Rivernorth Capital Management
Florida
$9.96K +$4M +292,696 +68%
FCA
58
FinTrust Capital Advisors
South Carolina
$7K – – –
EW
59
Evoke Wealth
California
$3.51K +$3.49K +255 New
ACA
60
Ackerman Capital Advisors
Texas
– -$842 -62,638 Closed
SCM
61
Saba Capital Management
New York
– -$487K -36,178 Closed
AA
62
AQR Arbitrage
Connecticut
– -$294K -21,878 Closed
MIG
63
Mariner Investment Group
New York
– -$214K -15,895 Closed
RJT
64
Raymond James Trust
Florida
– -$194K -14,413 Closed
Mariner
65
Mariner
Kansas
– -$148K -11,022 Closed
FIA
66
FNY Investment Advisers
New York
– -$56K -4,223 Closed
1 2
3

AFB Hedge Fund Activity: Q3 2019 in Review

59 of the 4,560 institutional investors tracked by Wall St. Rank reported a position in AllianceBernstein National Municipal Income Fund (AFB) for Q3 2019, worth a combined $125M — up 2.9% from $121M a quarter earlier.

Sellers outnumbered buyers: 7 funds closed out of AFB and 2 opened new positions — a net loss of 5 holders — while 11 trimmed existing stakes and 31 added.

The largest buyer was Rivernorth Capital Management, adding an estimated $4M. The largest seller was Wells Fargo, cutting an estimated $3.35M.

  • 59 institutional investors held AllianceBernstein National Municipal Income Fund (AFB) as of Q3 2019, down from 64 in Q2 2019.
  • Funds reported $125M of AllianceBernstein National Municipal Income Fund stock for Q3 2019, up 2.9% quarter-over-quarter.
  • 2 funds opened new AllianceBernstein National Municipal Income Fund positions in Q3 2019 and 7 closed out, a net change of -5 holders.
  • The largest AllianceBernstein National Municipal Income Fund buyer in Q3 2019 was Rivernorth Capital Management, an estimated $4M added.
  • The largest AllianceBernstein National Municipal Income Fund seller in Q3 2019 was Wells Fargo, an estimated $3.35M sold.

Based on aggregated 13F filings for Q3 2019.