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BlackRock Taxable Municipal Bond Trust
BBN

97 hedge funds and large institutions have $142M invested in BlackRock Taxable Municipal Bond Trust in 2017 Q2 according to their latest regulatory filings, with 13 funds opening new positions, 36 increasing their positions, 21 reducing their positions, and 2 closing their positions.

New
Increased
Maintained
Reduced
Closed

550% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 2

71% more repeat investments, than reductions

Existing positions increased: 36 | Existing positions reduced: 21

11% more funds holding

Funds holding: 87 → 97 (+10)

1.93% less ownership

Funds ownership: 12.73% → 10.81% (-1.9%)

13% less capital invested

Capital invested by funds: $163M → $142M (-$21.2M)

50% less funds holding in top 10

Funds holding in top 10: 2 → 1 (-1)

Holders
97
Holders Change
+10
Holders Change %
+11.49%
% of All Funds
2.42%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.02%
New
13
Increased
36
Reduced
21
Closed
2
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Ameriprise
Ameriprise
Minnesota
+$1.8M
2
Wells Fargo
Wells Fargo
California
+$644K
3
SG Americas Securities
SG Americas Securities
New York
+$630K
4
DA
Doliver Advisors
Texas
+$501K
5
Millennium Management
Millennium Management
New York
+$460K

Top Sellers

Rank Fund Capital Flow
1
LPL Financial
LPL Financial
California
-$4.26M
2
BIM
Baldwin Investment Management
Pennsylvania
-$212K
3
Invesco
Invesco
Georgia
-$173K
4
FFA
First Foundation Advisors
California
-$156K
5
LTFS
Ladenburg Thalmann Financial Services
Florida
-$146K
Name Holding Trade Value Shares
Change 		Change in
Stake
Morgan Stanley
1
Morgan Stanley
New York
$21.2M +$174K +7,642 +0.8%
UBS Group
2
UBS Group
Switzerland
$19.4M +$286K +12,552 +2%
Wells Fargo
3
Wells Fargo
California
$10.5M +$644K +28,294 +7%
Bank of America
4
Bank of America
North Carolina
$10.2M +$346K +15,179 +4%
Invesco
5
Invesco
Georgia
$10M -$173K -7,594 -2%
Ameriprise
6
Ameriprise
Minnesota
$9.59M +$1.8M +79,126 +23%
LI
7
Longer Investments
Arkansas
$5.06M -$49.9K -2,190 -1%
Stifel Financial
8
Stifel Financial
Missouri
$4.68M +$17.2K +757 +0.4%
Royal Bank of Canada
9
Royal Bank of Canada
Ontario, Canada
$4.04M -$139K -6,082 -3%
SIA
10
Sit Investment Associates
Minnesota
$3.45M -$47.8K -2,100 -1%
RJA
11
Raymond James & Associates
Florida
$3.07M +$323K +14,192 +12%
HighTower Advisors
12
HighTower Advisors
Illinois
$3.04M +$95.9K +4,209 +3%
FFA
13
First Foundation Advisors
California
$2.84M -$156K -6,851 -5%
Bank of New York Mellon
14
Bank of New York Mellon
New York
$2.75M -$706 -31 -0%
AFS
15
Access Financial Services
Minnesota
$1.76M +$84.3K +3,701 +5%
IP
16
Intellectus Partners
California
$1.61M +$4.74K +208 +0.3%
Commonwealth Equity Services
17
Commonwealth Equity Services
Massachusetts
$1.43M +$290K +12,733 +26%
ASN
18
Advisory Services Network
Georgia
$1.34M -$54.6K -2,399 -4%
MIC
19
Meridian Investment Counsel
California
$1.21M +$34.2K +1,500 +3%
HH
20
Hilltop Holdings
Texas
$1.09M -$64.2K -2,817 -6%
BTS
21
BB&T Securities
Virginia
$1.09M -$59.8K -2,625 -5%
CI
22
Conning Inc
Connecticut
$880K – – –
PAA
23
Peregrine Asset Advisers
Oregon
$859K +$2.5K +110 +0.3%
Citigroup
24
Citigroup
New York
$827K +$15K +659 +2%
DA
25
Doliver Advisors
Texas
$747K +$501K +22,007 +208%
1
2 3 4 5

BBN Hedge Fund Activity: Q2 2017 in Review

97 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q2 2017, worth a combined $142M — down 13% from $163M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new BBN positions and 2 closed out — a net gain of 11 holders — while 36 added to existing stakes and 21 trimmed.

The largest buyer was Ameriprise, adding an estimated $1.8M. The largest seller was LPL Financial, cutting an estimated $4.26M.

  • 97 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q2 2017, up from 87 in Q1 2017.
  • Funds reported $142M of BlackRock Taxable Municipal Bond Trust stock for Q2 2017, down 13% quarter-over-quarter.
  • 13 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q2 2017 and 2 closed out, a net change of +11 holders.
  • The largest BlackRock Taxable Municipal Bond Trust buyer in Q2 2017 was Ameriprise, an estimated $1.8M added.
  • The largest BlackRock Taxable Municipal Bond Trust seller in Q2 2017 was LPL Financial, an estimated $4.26M sold.

Based on aggregated 13F filings for Q2 2017.