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BlackRock Taxable Municipal Bond Trust
BBN

97 hedge funds and large institutions have $142M invested in BlackRock Taxable Municipal Bond Trust in 2017 Q2 according to their latest regulatory filings, with 13 funds opening new positions, 36 increasing their positions, 21 reducing their positions, and 2 closing their positions.

New
Increased
Maintained
Reduced
Closed

550% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 2

71% more repeat investments, than reductions

Existing positions increased: 36 | Existing positions reduced: 21

11% more funds holding

Funds holding: 87 → 97 (+10)

1.93% less ownership

Funds ownership: 12.73% → 10.81% (-1.9%)

13% less capital invested

Capital invested by funds: $163M → $142M (-$21.2M)

50% less funds holding in top 10

Funds holding in top 10: 2 → 1 (-1)

Holders
97
Holders Change
+10
Holders Change %
+11.49%
% of All Funds
2.42%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.02%
New
13
Increased
36
Reduced
21
Closed
2
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Ameriprise
Ameriprise
Minnesota
+$1.8M
2
Wells Fargo
Wells Fargo
California
+$644K
3
SG Americas Securities
SG Americas Securities
New York
+$630K
4
DA
Doliver Advisors
Texas
+$501K
5
Millennium Management
Millennium Management
New York
+$460K

Top Sellers

Rank Fund Capital Flow
1
LPL Financial
LPL Financial
California
-$4.26M
2
BIM
Baldwin Investment Management
Pennsylvania
-$212K
3
Invesco
Invesco
Georgia
-$173K
4
FFA
First Foundation Advisors
California
-$156K
5
LTFS
Ladenburg Thalmann Financial Services
Florida
-$146K
Name Holding Trade Value Shares
Change 		Change in
Stake
NPC
51
National Planning Corporation
California
$291K – – –
Thrivent Financial for Lutherans
52
Thrivent Financial for Lutherans
Minnesota
$286K +$284K +12,475 New
Susquehanna International Group
53
Susquehanna International Group
Pennsylvania
$281K +$279K +12,252 New
PMG
54
ProVise Management Group
Florida
$280K -$6.26K -275 -2%
CA
55
Cornerstone Advisory
Maryland
$267K -$68.3K -3,000 -21%
RJT
56
Raymond James Trust
Florida
$267K – – –
QCMC
57
Quantum Capital Management (California)
California
$241K – – –
BKA
58
Brick & Kyle Associates
Pennsylvania
$241K +$22.8K +1,000 +11%
MML Investors Services
59
MML Investors Services
Massachusetts
$235K +$22.2K +975 +11%
DADC
60
D.A. Davidson & Co
Montana
$234K -$30.7K -1,350 -12%
NMC
61
Nine Masts Capital
Hong Kong
$234K +$232K +10,200 New
WS
62
Wedbush Securities
California
$222K -$123K -5,387 -36%
OC
63
Oppenheimer & Co
New York
$222K +$2.23K +98 +1%
LTFS
64
Ladenburg Thalmann Financial Services
Florida
$220K -$146K -6,403 -40%
SFG
65
StrategIQ Financial Group
Indiana
$218K – – –
Lazard Asset Management
66
Lazard Asset Management
New York
$213K – – –
Janney Montgomery Scott
67
Janney Montgomery Scott
Pennsylvania
$204K +$202K +8,887 New
CIA
68
Capital Investment Advisors
Georgia
$201K +$200K +8,763 New
AG
69
Advisor Group
Arizona
$197K +$12K +528 +7%
IA
70
IFP Advisors
Florida
$148K -$19.4K -850 -12%
Northwestern Mutual Wealth Management
71
Northwestern Mutual Wealth Management
Wisconsin
$125K -$9.04K -397 -7%
Creative Planning
72
Creative Planning
Kansas
$121K +$42.9K +1,882 +55%
Cohen & Steers
73
Cohen & Steers
New York
$108K – – –
PG
74
Patten Group
Tennessee
$98K – – –
EWM
75
Evercore Wealth Management
New York
$92K – – –
1 2
3
4 5

BBN Hedge Fund Activity: Q2 2017 in Review

97 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q2 2017, worth a combined $142M — down 13% from $163M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new BBN positions and 2 closed out — a net gain of 11 holders — while 36 added to existing stakes and 21 trimmed.

The largest buyer was Ameriprise, adding an estimated $1.8M. The largest seller was LPL Financial, cutting an estimated $4.26M.

  • 97 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q2 2017, up from 87 in Q1 2017.
  • Funds reported $142M of BlackRock Taxable Municipal Bond Trust stock for Q2 2017, down 13% quarter-over-quarter.
  • 13 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q2 2017 and 2 closed out, a net change of +11 holders.
  • The largest BlackRock Taxable Municipal Bond Trust buyer in Q2 2017 was Ameriprise, an estimated $1.8M added.
  • The largest BlackRock Taxable Municipal Bond Trust seller in Q2 2017 was LPL Financial, an estimated $4.26M sold.

Based on aggregated 13F filings for Q2 2017.