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BlackRock Taxable Municipal Bond Trust
BBN

105 hedge funds and large institutions have $176M invested in BlackRock Taxable Municipal Bond Trust in 2017 Q4 according to their latest regulatory filings, with 22 funds opening new positions, 33 increasing their positions, 27 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

120% more first-time investments, than exits

New positions opened: 22 | Existing positions closed: 10

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

22% more repeat investments, than reductions

Existing positions increased: 33 | Existing positions reduced: 27

21% more capital invested

Capital invested by funds: $145M → $176M (+$30.2M)

13% more funds holding

Funds holding: 93 → 105 (+12)

2.4% more ownership

Funds ownership: 10.87% → 13.27% (+2.4%)

Holders
105
Holders Change
+12
Holders Change %
+12.9%
% of All Funds
2.38%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.05%
New
22
Increased
33
Reduced
27
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Invesco
Invesco
Georgia
+$1.43M
2
UBS Group
UBS Group
Switzerland
+$1.18M
3
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$1.06M
4
Morgan Stanley
Morgan Stanley
New York
+$760K
5
Squarepoint
Squarepoint
New York
+$371K

Top Sellers

Rank Fund Capital Flow
1
SIA
Sit Investment Associates
Minnesota
-$839K
2
CI
Conning Inc
Connecticut
-$797K
3
William Blair & Company
William Blair & Company
Illinois
-$635K
4
PAG
Private Advisor Group
New Jersey
-$470K
5
SPC
Sigma Planning Corp
Michigan
-$469K
Name Holding Trade Value Shares
Change 		Change in
Stake
AWA
1
AmeriServ Wealth Advisors
Pennsylvania
$25.6M +$25.9M +1,113,590 New
Morgan Stanley
2
Morgan Stanley
New York
$24.4M +$760K +32,708 +3%
UBS Group
3
UBS Group
Switzerland
$18.8M +$1.18M +50,930 +7%
Ameriprise
4
Ameriprise
Minnesota
$13M +$223K +9,593 +2%
Wells Fargo
5
Wells Fargo
California
$11.5M +$323K +13,888 +3%
Bank of America
6
Bank of America
North Carolina
$10.6M -$24.5K -1,056 -0.2%
Invesco
7
Invesco
Georgia
$10.1M +$1.43M +61,417 +16%
Royal Bank of Canada
8
Royal Bank of Canada
Ontario, Canada
$5.47M +$1.06M +45,557 +24%
LI
9
Longer Investments
Arkansas
$5.16M +$47.4K +2,040 +0.9%
Stifel Financial
10
Stifel Financial
Missouri
$4.51M +$38.7K +1,668 +0.9%
RJA
11
Raymond James & Associates
Florida
$3.51M +$235K +10,114 +7%
HighTower Advisors
12
HighTower Advisors
Illinois
$3.32M +$79.5K +3,422 +2%
GFPC
13
Global Financial Private Capital
Florida
$2.42M +$369K +15,908 +18%
FFA
14
First Foundation Advisors
California
$2.19M -$138K -5,939 -6%
AFS
15
Access Financial Services
Minnesota
$1.82M +$3.48K +150 +0.2%
IP
16
Intellectus Partners
California
$1.47M -$195K -8,390 -12%
Commonwealth Equity Services
17
Commonwealth Equity Services
Massachusetts
$1.46M -$324K -13,940 -18%
SIA
18
Sit Investment Associates
Minnesota
$1.21M -$839K -36,106 -41%
MIC
19
Meridian Investment Counsel
California
$1.18M – – –
ASN
20
Advisory Services Network
Georgia
$1.14M -$70.3K -3,025 -6%
HH
21
Hilltop Holdings
Texas
$1.07M -$259K -11,136 -19%
BTS
22
BB&T Securities
Virginia
$1.01M -$81.8K -3,522 -7%
LPL Financial
23
LPL Financial
California
$1M +$231K +9,927 +30%
FRA
24
Front Row Advisors
California
$896K +$897K +38,633 New
PAA
25
Peregrine Asset Advisers
Oregon
$837K +$1.14K +49 +0.1%
1
2 3 4 5

BBN Hedge Fund Activity: Q4 2017 in Review

105 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q4 2017, worth a combined $176M — up 21% from $145M a quarter earlier.

Buyers outnumbered sellers: 22 funds opened new BBN positions and 10 closed out — a net gain of 12 holders — while 33 added to existing stakes and 27 trimmed.

The largest buyer was Invesco, adding an estimated $1.43M. The largest seller was Sit Investment Associates, cutting an estimated $839K.

  • 105 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q4 2017, up from 93 in Q3 2017.
  • Funds reported $176M of BlackRock Taxable Municipal Bond Trust stock for Q4 2017, up 21% quarter-over-quarter.
  • 22 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q4 2017 and 10 closed out, a net change of +12 holders.
  • The largest BlackRock Taxable Municipal Bond Trust buyer in Q4 2017 was Invesco, an estimated $1.43M added.
  • The largest BlackRock Taxable Municipal Bond Trust seller in Q4 2017 was Sit Investment Associates, an estimated $839K sold.

Based on aggregated 13F filings for Q4 2017.