BlackRock Taxable Municipal Bond Trust
BBN
92 hedge funds and large institutions have $168M invested in BlackRock Taxable Municipal Bond Trust in 2018 Q3 according to their latest regulatory filings, with 13 funds opening new positions, 37 increasing their positions, 25 reducing their positions, and 15 closing their positions.
48% more repeat investments, than reductions
Existing positions increased: 37 | Existing positions reduced: 25
1% more capital invested
Capital invested by funds: $166M → $168M (+$2.47M)
0.43% less ownership
Funds ownership: 13.23% → 12.8% (-0.43%)
3% less funds holding
Funds holding: 95 → 92 (-3)
13% less first-time investments, than exits
New positions opened: 13 | Existing positions closed: 15
50% less funds holding in top 10
Funds holding in top 10: 4 → 2 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HH
Hilltop Holdings
Dallas,
Texas
|
+$1.37M |
| 2 |
Invesco
Atlanta,
Georgia
|
+$1.15M |
| 3 |
NMC
Nine Masts Capital
Central,
Hong Kong
|
+$847K |
| 4 |
Ameriprise
Minneapolis,
Minnesota
|
+$706K |
| 5 |
LPL Financial
San Diego,
California
|
+$644K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CA
Cornerstone Advisory
Hunt Valley,
Maryland
|
-$5.83M |
| 2 |
DA
Doliver Advisors
Houston,
Texas
|
-$1.56M |
| 3 |
Wells Fargo
San Francisco,
California
|
-$1.51M |
| 4 |
Morgan Stanley
New York
|
-$792K |
| 5 |
AWA
AmeriServ Wealth Advisors
Johnstown,
Pennsylvania
|
-$779K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
CIA
101
Capital Investment Advisors
Atlanta,
Georgia
| – | -$206K | -9,338 | Closed |
|
|
AA
102
Apriem Advisors
Irvine,
California
| – | -$84K | -3,800 | Closed |
|
|
CF
103
Centaurus Financial
Anaheim,
California
| – | -$69K | -3,132 | Closed |
|
|
SPIA
104
Steward Partners Investment Advisory
New York
| – | -$55K | -2,500 | Closed |
|
|
MIM
105
Macroview Investment Management
Bethesda,
Maryland
| – | -$25K | -1,146 | Closed |
|
106
SEI Investments
Oaks,
Pennsylvania
| – | -$10K | -450 | Closed |
|
|
PO
107
Private Ocean
San Rafael,
California
| – | -$10K | -433 | Closed |
|
|
WAP
108
Wealthcare Advisory Partners
West Chester,
Pennsylvania
| – | -$4K | -191 | Closed |
|
|
WAMC
109
Western Asset Management Company
Pasadena,
California
| – | -$1K | -14 | Closed |
|
BBN Hedge Fund Activity: Q3 2018 in Review
92 of the 4,375 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q3 2018, worth a combined $168M — up 1.5% from $166M a quarter earlier.
Sellers outnumbered buyers: 15 funds closed out of BBN and 13 opened new positions — a net loss of 2 holders — while 25 trimmed existing stakes and 37 added.
The largest buyer was Hilltop Holdings, adding an estimated $1.37M. The largest seller was Cornerstone Advisory, cutting an estimated $5.83M.
- 92 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q3 2018, down from 95 in Q2 2018.
- Funds reported $168M of BlackRock Taxable Municipal Bond Trust stock for Q3 2018, up 1.5% quarter-over-quarter.
- 13 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q3 2018 and 15 closed out, a net change of -2 holders.
- The largest BlackRock Taxable Municipal Bond Trust buyer in Q3 2018 was Hilltop Holdings, an estimated $1.37M added.
- The largest BlackRock Taxable Municipal Bond Trust seller in Q3 2018 was Cornerstone Advisory, an estimated $5.83M sold.
Based on aggregated 13F filings for Q3 2018.