BlackRock Taxable Municipal Bond Trust
BBN
69 hedge funds and large institutions have $155M invested in BlackRock Taxable Municipal Bond Trust in 2015 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 25 increasing their positions, 23 reducing their positions, and 12 closing their positions.
9% more repeat investments, than reductions
Existing positions increased: 25 | Existing positions reduced: 23
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
0.9% less ownership
Funds ownership: 12.67% → 11.77% (-0.9%)
5% less capital invested
Capital invested by funds: $163M → $155M (-$7.83M)
9% less funds holding
Funds holding: 76 → 69 (-7)
42% less first-time investments, than exits
New positions opened: 7 | Existing positions closed: 12
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PMLI
Penn Mutual Life Insurance
Horsham,
Pennsylvania
|
+$2.46M |
| 2 |
JHIU
Janus Henderson Investors US
Denver,
Colorado
|
+$1.95M |
| 3 |
FFA
First Foundation Advisors
Irvine,
California
|
+$1.94M |
| 4 |
Morgan Stanley
New York
|
+$997K |
| 5 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
+$595K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PNC Financial Services Group
Pittsburgh,
Pennsylvania
|
-$3.94M |
| 2 |
V
Veritable
Wilmington,
Delaware
|
-$2.39M |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$2.36M |
| 4 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
-$2.3M |
| 5 |
OA
Oxbow Advisors
Austin,
Texas
|
-$2.19M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
NPC
76
National Planning Corporation
El Segundo,
California
| – | -$39.9K | -1,779 | Closed |
|
|
BCM
77
Blume Capital Management
Berkeley,
California
| – | -$22K | -1,000 | Closed |
|
|
BIM
78
BlackRock Investment Management
Wilmington,
Delaware
| – | -$5.54K | -245 | Closed |
|
79
Bank of Montreal
Toronto,
Ontario, Canada
| – | -$4K | -161 | Closed |
|
80
Envestnet Asset Management
Chicago,
Illinois
| – | -$1K | -55 | Closed |
|
|
MAA
81
Managed Account Advisors
Jersey City,
New Jersey
| – | +$158 | +7 | New |
|
BBN Hedge Fund Activity: Q1 2015 in Review
69 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q1 2015, worth a combined $155M — down 4.8% from $163M a quarter earlier.
Sellers outnumbered buyers: 12 funds closed out of BBN and 7 opened new positions — a net loss of 5 holders — while 23 trimmed existing stakes and 25 added.
The largest buyer was Penn Mutual Life Insurance, opening a new position worth an estimated $2.46M. The largest seller was PNC Financial Services Group, cutting an estimated $3.94M.
- 69 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q1 2015, down from 76 in Q4 2014.
- Funds reported $155M of BlackRock Taxable Municipal Bond Trust stock for Q1 2015, down 4.8% quarter-over-quarter.
- 7 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q1 2015 and 12 closed out, a net change of -5 holders.
- The largest BlackRock Taxable Municipal Bond Trust buyer in Q1 2015 was Penn Mutual Life Insurance, an estimated $2.46M added.
- The largest BlackRock Taxable Municipal Bond Trust seller in Q1 2015 was PNC Financial Services Group, an estimated $3.94M sold.
Based on aggregated 13F filings for Q1 2015.