BlackRock Taxable Municipal Bond Trust
BBN
63 hedge funds and large institutions have $168M invested in BlackRock Taxable Municipal Bond Trust in 2013 Q4 according to their latest regulatory filings, with 20 funds opening new positions, 22 increasing their positions, 14 reducing their positions, and 12 closing their positions.
67% more first-time investments, than exits
New positions opened: 20 | Existing positions closed: 12
57% more repeat investments, than reductions
Existing positions increased: 22 | Existing positions reduced: 14
15% more funds holding
Funds holding: 55 → 63 (+8)
13% more capital invested
Capital invested by funds: $149M → $168M (+$19.6M)
1.54% more ownership
Funds ownership: 13.84% → 15.38% (+1.5%)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PRCM
Pine River Capital Management
Minnetonka,
Minnesota
|
+$10.5M |
| 2 |
Wells Fargo
San Francisco,
California
|
+$5.74M |
| 3 |
PNC Financial Services Group
Pittsburgh,
Pennsylvania
|
+$3.23M |
| 4 |
OHA
Oak Hill Advisors
New York
|
+$2.87M |
| 5 |
LI
Longer Investments
Fayetteville,
Arkansas
|
+$2.14M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
-$6.13M |
| 2 |
SONJCPFB
State of New Jersey Common Pension Fund B
Trenton,
New Jersey
|
-$4.51M |
| 3 |
Morgan Stanley
New York
|
-$4.37M |
| 4 |
Ameriprise
Minneapolis,
Minnesota
|
-$3.89M |
| 5 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$2.72M |
BBN Hedge Fund Activity: Q4 2013 in Review
63 of the 3,459 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q4 2013, worth a combined $168M — up 13% from $149M a quarter earlier.
Buyers outnumbered sellers: 20 funds opened new BBN positions and 12 closed out — a net gain of 8 holders — while 22 added to existing stakes and 14 trimmed.
The largest buyer was Pine River Capital Management, opening a new position worth an estimated $10.5M. The largest seller was Bank of America, cutting an estimated $6.13M.
- 63 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q4 2013, up from 55 in Q3 2013.
- Funds reported $168M of BlackRock Taxable Municipal Bond Trust stock for Q4 2013, up 13% quarter-over-quarter.
- 20 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q4 2013 and 12 closed out, a net change of +8 holders.
- The largest BlackRock Taxable Municipal Bond Trust buyer in Q4 2013 was Pine River Capital Management, an estimated $10.5M added.
- The largest BlackRock Taxable Municipal Bond Trust seller in Q4 2013 was Bank of America, an estimated $6.13M sold.
Based on aggregated 13F filings for Q4 2013.