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BlackRock Taxable Municipal Bond Trust
BBN

98 hedge funds and large institutions have $187M invested in BlackRock Taxable Municipal Bond Trust in 2019 Q1 according to their latest regulatory filings, with 12 funds opening new positions, 33 increasing their positions, 29 reducing their positions, and 17 closing their positions.

New
Increased
Maintained
Reduced
Closed

14% more repeat investments, than reductions

Existing positions increased: 33 | Existing positions reduced: 29

3% more capital invested

Capital invested by funds: $182M → $187M (+$5.46M)

0% more funds holding in top 10

Funds holding in top 10: 3 → 3 (0)

0.52% less ownership

Funds ownership: 15.1% → 14.59% (-0.52%)

5% less funds holding

Funds holding: 103 → 98 (-5)

29% less first-time investments, than exits

New positions opened: 12 | Existing positions closed: 17

Holders
98
Holders Change
-5
Holders Change %
-4.85%
% of All Funds
2.12%
Holding in Top 10
3
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.06%
New
12
Increased
33
Reduced
29
Closed
17
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$4.79M
2
CA
Cetera Advisors
Colorado
+$3.78M
3
GFPC
Global Financial Private Capital
Florida
+$2.37M
4
Wells Fargo
Wells Fargo
California
+$2.36M
5
Baird Financial Group
Baird Financial Group
Wisconsin
+$2.26M

Top Sellers

Rank Fund Capital Flow
1
Goldman Sachs
Goldman Sachs
New York
-$9.15M
2
OA
Oxbow Advisors
Texas
-$7.23M
3
CA
Cornerstone Advisory
Maryland
-$2.7M
4
Invesco
Invesco
Georgia
-$2.56M
5
HH
Hilltop Holdings
Texas
-$2.18M
Name Holding Trade Value Shares
Change 		Change in
Stake
WKWM
51
Walter & Keenan Wealth Management
Indiana
$366K +$43.9K +2,000 +14%
FAAS
52
First Allied Advisory Services
California
$349K -$1.32K -60 -0.4%
WWM
53
Western Wealth Management
Colorado
$339K – – –
GAM
54
Gould Asset Management
California
$332K +$325K +14,800 New
SRSA
55
S.R. Schill & Associates
Washington
$324K +$31.4K +1,430 +11%
ECM
56
Evergreen Capital Management
Washington
$308K -$439K -19,995 -59%
Janney Montgomery Scott
57
Janney Montgomery Scott
Pennsylvania
$303K +$47.5K +2,164 +19%
Fiera Capital (Canada)
58
Fiera Capital (Canada)
Quebec, Canada
$295K -$38.4K -1,750 -12%
Cohen & Steers
59
Cohen & Steers
New York
$288K – – –
CIBC World Market
60
CIBC World Market
Ontario, Canada
$277K – – –
SP
61
Successful Portfolios
Florida
$277K – – –
TIM
62
Tortoise Investment Management
New York
$272K -$1.56M -71,197 -85%
BB
63
Busey Bank
Illinois
$271K -$6.85K -312 -3%
Bank of New York Mellon
64
Bank of New York Mellon
New York
$247K – – –
FIA
65
FNY Investment Advisers
New York
$246K +$241K +11,000 New
VWA
66
VERITY Wealth Advisors
United States
$240K – – –
RJT
67
Raymond James Trust
Florida
$234K +$229K +10,455 New
UR
68
USCA RIA
Texas
$233K -$75.5K -3,440 -25%
Millennium Management
69
Millennium Management
New York
$228K +$223K +10,143 New
QCMC
70
Quantum Capital Management (California)
California
$224K – – –
Lazard Asset Management
71
Lazard Asset Management
New York
$208K – – –
HCM
72
Hollencrest Capital Management
California
$206K +$202K +9,192 New
AG
73
Advisor Group
Arizona
$166K -$74.1K -3,377 -31%
SWM
74
SeaCrest Wealth Management
New York
$158K +$373 +17 +0.2%
AWM
75
Aevitas Wealth Management
Massachusetts
$157K +$2.46K +112 +2%
1 2
3
4 5

BBN Hedge Fund Activity: Q1 2019 in Review

98 of the 4,621 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q1 2019, worth a combined $187M — up 3% from $182M a quarter earlier.

Sellers outnumbered buyers: 17 funds closed out of BBN and 12 opened new positions — a net loss of 5 holders — while 29 trimmed existing stakes and 33 added.

The largest buyer was Morgan Stanley, adding an estimated $4.79M. The largest seller was Goldman Sachs, exiting entirely with an estimated $9.15M sold.

  • 98 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q1 2019, down from 103 in Q4 2018.
  • Funds reported $187M of BlackRock Taxable Municipal Bond Trust stock for Q1 2019, up 3% quarter-over-quarter.
  • 12 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q1 2019 and 17 closed out, a net change of -5 holders.
  • The largest BlackRock Taxable Municipal Bond Trust buyer in Q1 2019 was Morgan Stanley, an estimated $4.79M added.
  • The largest BlackRock Taxable Municipal Bond Trust seller in Q1 2019 was Goldman Sachs, an estimated $9.15M sold.

Based on aggregated 13F filings for Q1 2019.