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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
LTFS
76
Ladenburg Thalmann Financial Services
Florida
$153K -$4.94K -225 -3%
Bank of Montreal
77
Bank of Montreal
Ontario, Canada
$148K -$101K -4,580 -41%
Northwestern Mutual Wealth Management
78
Northwestern Mutual Wealth Management
Wisconsin
$141K +$11.8K +539 +9%
OSNBOA
79
Old Second National Bank of Aurora
Illinois
$99K – – –
BFC
80
Bedel Financial Consulting
Indiana
$90K – – –
APA
81
American Portfolios Advisors
New York
$77.8K +$63.7K +2,900 +510%
RCC
82
Red Cedar Capital
Nebraska
$75K – – –
AIM
83
Advantage Investment Management
Iowa
$74K +$1.16K +53 +2%
BEI
84
Benjamin Edwards Inc
Missouri
$62K +$60.4K +2,750 New
TFS
85
TrustCore Financial Services
Tennessee
$43K – – –
CFB
86
Cullen/Frost Bankers
Texas
$42K +$41K +1,868 New
ARMC
87
American Research & Management Company
Massachusetts
$31K – – –
FPS
88
Fieldpoint Private Securities
Connecticut
$29K – – –
DSC
89
Duncker Streett & Co
Missouri
$27K – – –
WT
90
Whittier Trust
California
$23K – – –
Fifth Third Bancorp
91
Fifth Third Bancorp
Ohio
$22K – – –
US Bancorp
92
US Bancorp
Minnesota
$22K – – –
RCAG
93
Rehmann Capital Advisory Group
Michigan
$11.2K – – –
BFEC
94
Benjamin F. Edwards & Company
Missouri
$11K – – –
OIA
95
Optimum Investment Advisors
Illinois
$11K +$11K +500 New
IA
96
IFP Advisors
Florida
$9K -$57.3K -2,611 -87%
CAC
97
Certified Advisory Corp
Florida
$8K +$88 +4 +1%
CFA
98
Carroll Financial Associates
North Carolina
$6K – – –
OWD
99
Osborn Williams & Donohoe
Ohio
$5K +$4.39K +200 New
AF
100
Allworth Financial
California
$3K – – –
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.