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BlackRock Taxable Municipal Bond Trust
BBN

98 hedge funds and large institutions have $246M invested in BlackRock Taxable Municipal Bond Trust in 2019 Q3 according to their latest regulatory filings, with 10 funds opening new positions, 41 increasing their positions, 20 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

105% more repeat investments, than reductions

Existing positions increased: 41 | Existing positions reduced: 20

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

22% more capital invested

Capital invested by funds: $201M → $246M (+$44.9M)

2.61% more ownership

Funds ownership: 14.8% → 17.41% (+2.6%)

9% less first-time investments, than exits

New positions opened: 10 | Existing positions closed: 11

1% less funds holding

Funds holding: 99 → 98 (-1)

Holders
98
Holders Change
-1
Holders Change %
-1.01%
% of All Funds
2.15%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.04%
New
10
Increased
41
Reduced
20
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
GC
Guggenheim Capital
Illinois
+$31M
2
Morgan Stanley
Morgan Stanley
New York
+$3.05M
3
TC
TownSquare Capital
Utah
+$2.78M
4
FFA
First Foundation Advisors
California
+$2.36M
5
Wells Fargo
Wells Fargo
California
+$1.97M

Top Sellers

Rank Fund Capital Flow
1
SIA
Sit Investment Associates
Minnesota
-$4.69M
2
UBS Group
UBS Group
Switzerland
-$3.99M
3
Stifel Financial
Stifel Financial
Missouri
-$1.88M
4
CA
Cetera Advisors
Colorado
-$1.1M
5
Invesco
Invesco
Georgia
-$590K
Name Holding Trade Value Shares
Change 		Change in
Stake
AWA
26
AmeriServ Wealth Advisors
Pennsylvania
$1.44M +$23.9K +979 +2%
IWA
27
IBEX Wealth Advisors
New Jersey
$1.4M +$28.5K +1,166 +2%
OA
28
Oxbow Advisors
Texas
$1.27M +$44.6K +1,827 +4%
TA
29
TCG Advisors
Texas
$1.2M +$370K +15,163 +45%
MIC
30
Meridian Investment Counsel
California
$1.19M – – –
NL
31
NWAM LLC
Washington
$1.09M +$164K +6,728 +18%
ASN
32
Advisory Services Network
Georgia
$961K – – –
Citigroup
33
Citigroup
New York
$864K -$24.4K -1,000 -3%
LWAC
34
Laurel Wealth Advisors (California)
California
$784K +$238K +9,753 +44%
SCM
35
Schnieders Capital Management
California
$705K -$3.66K -150 -0.5%
LA
36
LexAurum Advisors
Kansas
$676K +$195 +8 +0%
PMG
37
ProVise Management Group
Florida
$639K +$32.1K +1,317 +5%
FMTCOCP
38
Farmers & Merchants Trust Co of Chambersburg PA
Pennsylvania
$618K – – –
M&T Bank
39
M&T Bank
New York
$595K +$168K +6,872 +40%
LTFS
40
Ladenburg Thalmann Financial Services
Florida
$575K +$418K +17,139 +279%
Cetera Investment Advisers
41
Cetera Investment Advisers
Illinois
$571K +$332K +13,591 +142%
SRSA
42
S.R. Schill & Associates
Washington
$561K +$188K +7,703 +51%
SWP
43
Stratos Wealth Partners
Ohio
$519K -$5.37K -220 -1%
BRC
44
Bell Rock Capital
Delaware
$499K -$11.2K -459 -2%
Cambridge Investment Research Advisors
45
Cambridge Investment Research Advisors
Iowa
$491K +$47K +1,928 +11%
FCA
46
FinTrust Capital Advisors
South Carolina
$472K – – –
BB
47
Busey Bank
Illinois
$471K +$48.8K +2,000 +12%
GLA
48
Good Life Advisors
Pennsylvania
$468K -$68.3K -2,800 -13%
EM
49
ELCO Management
New York
$457K +$24.4K +1,000 +6%
EIA
50
Edgemoor Investment Advisors
Maryland
$406K – – –
1
2
3 4 5

BBN Hedge Fund Activity: Q3 2019 in Review

98 of the 4,561 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q3 2019, worth a combined $246M — up 22% from $201M a quarter earlier.

Sellers outnumbered buyers: 11 funds closed out of BBN and 10 opened new positions — a net loss of 1 holder — while 20 trimmed existing stakes and 41 added.

The largest buyer was Guggenheim Capital, adding an estimated $31M. The largest seller was Sit Investment Associates, cutting an estimated $4.69M.

  • 98 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q3 2019, down from 99 in Q2 2019.
  • Funds reported $246M of BlackRock Taxable Municipal Bond Trust stock for Q3 2019, up 22% quarter-over-quarter.
  • 10 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q3 2019 and 11 closed out, a net change of -1 holder.
  • The largest BlackRock Taxable Municipal Bond Trust buyer in Q3 2019 was Guggenheim Capital, an estimated $31M added.
  • The largest BlackRock Taxable Municipal Bond Trust seller in Q3 2019 was Sit Investment Associates, an estimated $4.69M sold.

Based on aggregated 13F filings for Q3 2019.