BlackRock Taxable Municipal Bond Trust
BBN
98 hedge funds and large institutions have $246M invested in BlackRock Taxable Municipal Bond Trust in 2019 Q3 according to their latest regulatory filings, with 10 funds opening new positions, 41 increasing their positions, 20 reducing their positions, and 11 closing their positions.
105% more repeat investments, than reductions
Existing positions increased: 41 | Existing positions reduced: 20
100% more funds holding in top 10
Funds holding in top 10: 1 → 2 (+1)
22% more capital invested
Capital invested by funds: $201M → $246M (+$44.9M)
2.61% more ownership
Funds ownership: 14.8% → 17.41% (+2.6%)
9% less first-time investments, than exits
New positions opened: 10 | Existing positions closed: 11
1% less funds holding
Funds holding: 99 → 98 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GC
Guggenheim Capital
Chicago,
Illinois
|
+$31M |
| 2 |
Morgan Stanley
New York
|
+$3.05M |
| 3 |
TC
TownSquare Capital
Provo,
Utah
|
+$2.78M |
| 4 |
FFA
First Foundation Advisors
Irvine,
California
|
+$2.36M |
| 5 |
Wells Fargo
San Francisco,
California
|
+$1.97M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
-$4.69M |
| 2 |
UBS Group
Zurich,
Switzerland
|
-$3.99M |
| 3 |
Stifel Financial
St. Louis,
Missouri
|
-$1.88M |
| 4 |
CA
Cetera Advisors
Denver,
Colorado
|
-$1.1M |
| 5 |
Invesco
Atlanta,
Georgia
|
-$590K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
DA
101
Doliver Advisors
Houston,
Texas
| – | -$294K | -12,403 | Closed |
|
102
Bank of Montreal
Toronto,
Ontario, Canada
| – | -$119K | -5,000 | Closed |
|
|
RCC
103
Red Cedar Capital
Omaha,
Nebraska
| – | -$79K | -3,350 | Closed |
|
104
US Bancorp
Minneapolis,
Minnesota
| – | -$54K | -2,270 | Closed |
|
|
TC
105
Trust Company
Manhattan,
Kansas
| – | -$47K | -1,988 | Closed |
|
|
DSC
106
Duncker Streett & Co
St. Louis,
Missouri
| – | -$28K | -1,200 | Closed |
|
|
AIM
107
Advantage Investment Management
Cedar Rapids,
Iowa
| – | -$20K | -832 | Closed |
|
|
CFB
108
Cullen/Frost Bankers
San Antonio,
Texas
| – | -$16K | -668 | Closed |
|
|
CAL
109
Capital Analysts LLC
Fort Washington,
Pennsylvania
| – | -$9K | -376 | Closed |
|
|
PWP
110
Personal Wealth Partners
Bloomington,
Minnesota
| – | -$3K | -116 | Closed |
|
BBN Hedge Fund Activity: Q3 2019 in Review
98 of the 4,561 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q3 2019, worth a combined $246M — up 22% from $201M a quarter earlier.
Sellers outnumbered buyers: 11 funds closed out of BBN and 10 opened new positions — a net loss of 1 holder — while 20 trimmed existing stakes and 41 added.
The largest buyer was Guggenheim Capital, adding an estimated $31M. The largest seller was Sit Investment Associates, cutting an estimated $4.69M.
- 98 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q3 2019, down from 99 in Q2 2019.
- Funds reported $246M of BlackRock Taxable Municipal Bond Trust stock for Q3 2019, up 22% quarter-over-quarter.
- 10 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q3 2019 and 11 closed out, a net change of -1 holder.
- The largest BlackRock Taxable Municipal Bond Trust buyer in Q3 2019 was Guggenheim Capital, an estimated $31M added.
- The largest BlackRock Taxable Municipal Bond Trust seller in Q3 2019 was Sit Investment Associates, an estimated $4.69M sold.
Based on aggregated 13F filings for Q3 2019.