BlackRock Taxable Municipal Bond Trust
BBN
55 hedge funds and large institutions have $148M invested in BlackRock Taxable Municipal Bond Trust in 2013 Q3 according to their latest regulatory filings, with 13 funds opening new positions, 15 increasing their positions, 19 reducing their positions, and 10 closing their positions.
30% more first-time investments, than exits
New positions opened: 13 | Existing positions closed: 10
6% more funds holding
Funds holding: 52 → 55 (+3)
0.12% less ownership
Funds ownership: 13.96% → 13.84% (-0.12%)
8% less capital invested
Capital invested by funds: $161M → $148M (-$13.2M)
21% less repeat investments, than reductions
Existing positions increased: 15 | Existing positions reduced: 19
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
+$4.79M |
| 2 |
TG
TCW Group
Los Angeles,
California
|
+$4.66M |
| 3 |
SONJCPFB
State of New Jersey Common Pension Fund B
Trenton,
New Jersey
|
+$4.63M |
| 4 |
OA
Oxbow Advisors
Austin,
Texas
|
+$2.14M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
+$1.86M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$5.38M |
| 2 |
Wells Fargo
San Francisco,
California
|
-$3.57M |
| 3 |
BI
Bulldog Investors
Saddle Brook,
New Jersey
|
-$3.19M |
| 4 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
-$2.07M |
| 5 |
EIA
Edgemoor Investment Advisors
Bethesda,
Maryland
|
-$1.78M |
BBN Hedge Fund Activity: Q3 2013 in Review
55 of the 3,085 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q3 2013, worth a combined $148M — down 8.2% from $161M a quarter earlier.
Buyers outnumbered sellers: 13 funds opened new BBN positions and 10 closed out — a net gain of 3 holders — while 15 added to existing stakes and 19 trimmed.
The largest buyer was Goldman Sachs, adding an estimated $4.79M. The largest seller was Rivernorth Capital Management, cutting an estimated $5.38M.
- 55 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q3 2013, up from 52 in Q2 2013.
- Funds reported $148M of BlackRock Taxable Municipal Bond Trust stock for Q3 2013, down 8.2% quarter-over-quarter.
- 13 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q3 2013 and 10 closed out, a net change of +3 holders.
- The largest BlackRock Taxable Municipal Bond Trust buyer in Q3 2013 was Goldman Sachs, an estimated $4.79M added.
- The largest BlackRock Taxable Municipal Bond Trust seller in Q3 2013 was Rivernorth Capital Management, an estimated $5.38M sold.
Based on aggregated 13F filings for Q3 2013.