BlackRock Taxable Municipal Bond Trust
BBN
68 hedge funds and large institutions have $159M invested in BlackRock Taxable Municipal Bond Trust in 2014 Q2 according to their latest regulatory filings, with 8 funds opening new positions, 19 increasing their positions, 24 reducing their positions, and 14 closing their positions.
3.36% less ownership
Funds ownership: 16.01% → 12.64% (-3.4%)
8% less funds holding
Funds holding: 74 → 68 (-6)
15% less capital invested
Capital invested by funds: $188M → $159M (-$28.6M)
21% less repeat investments, than reductions
Existing positions increased: 19 | Existing positions reduced: 24
43% less first-time investments, than exits
New positions opened: 8 | Existing positions closed: 14
50% less funds holding in top 10
Funds holding in top 10: 2 → 1 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$3.24M |
| 2 |
Jane Street
New York
|
+$1.87M |
| 3 |
CWM
Cabot Wealth Management
Salem,
Massachusetts
|
+$1.37M |
| 4 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
+$953K |
| 5 |
Invesco
Atlanta,
Georgia
|
+$844K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wells Fargo
San Francisco,
California
|
-$17.5M |
| 2 |
TG
TCW Group
Los Angeles,
California
|
-$6.95M |
| 3 |
OHA
Oak Hill Advisors
New York
|
-$4.82M |
| 4 |
AllianceBernstein
Nashville,
Tennessee
|
-$4.32M |
| 5 |
Morgan Stanley
New York
|
-$2.73M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
76
Stifel Financial
St. Louis,
Missouri
| – | -$317K | -15,700 | Closed |
|
|
VKH
77
Virtu KCG Holdings
New York
| – | -$313K | -15,486 | Closed |
|
|
LCM
78
Landscape Capital Management
Englewood,
New Jersey
| – | -$310K | -15,306 | Closed |
|
|
WAM
79
Wolverine Asset Management
Chicago,
Illinois
| – | -$278K | -13,759 | Closed |
|
|
ACI
80
AMP Capital Investors
Sydney,
Australia
| – | -$217K | -10,782 | Closed |
|
|
S
81
SignatureFD
Atlanta,
Georgia
| – | -$54K | -2,675 | Closed |
|
|
SMA
82
Simply Money Advisors
Cincinnati,
Ohio
| – | -$41K | -2,014 | Closed |
|
BBN Hedge Fund Activity: Q2 2014 in Review
68 of the 3,479 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q2 2014, worth a combined $159M — down 15% from $188M a quarter earlier.
Sellers outnumbered buyers: 14 funds closed out of BBN and 8 opened new positions — a net loss of 6 holders — while 24 trimmed existing stakes and 19 added.
The largest buyer was Sit Investment Associates, adding an estimated $3.24M. The largest seller was Wells Fargo, cutting an estimated $17.5M.
- 68 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q2 2014, down from 74 in Q1 2014.
- Funds reported $159M of BlackRock Taxable Municipal Bond Trust stock for Q2 2014, down 15% quarter-over-quarter.
- 8 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q2 2014 and 14 closed out, a net change of -6 holders.
- The largest BlackRock Taxable Municipal Bond Trust buyer in Q2 2014 was Sit Investment Associates, an estimated $3.24M added.
- The largest BlackRock Taxable Municipal Bond Trust seller in Q2 2014 was Wells Fargo, an estimated $17.5M sold.
Based on aggregated 13F filings for Q2 2014.