BlackRock Taxable Municipal Bond Trust
BBN
117 hedge funds and large institutions have $255M invested in BlackRock Taxable Municipal Bond Trust in 2022 Q3 according to their latest regulatory filings, with 9 funds opening new positions, 36 increasing their positions, 31 reducing their positions, and 23 closing their positions.
16% more repeat investments, than reductions
Existing positions increased: 36 | Existing positions reduced: 31
0.23% less ownership
Funds ownership: 26.65% → 26.42% (-0.23%)
11% less funds holding
Funds holding: 132 → 117 (-15)
15% less capital invested
Capital invested by funds: $302M → $255M (-$46.3M)
50% less funds holding in top 10
Funds holding in top 10: 4 → 2 (-2)
61% less first-time investments, than exits
New positions opened: 9 | Existing positions closed: 23
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PCM
Penserra Capital Management
Orinda,
California
|
+$6.72M |
| 2 |
Morgan Stanley
New York
|
+$4.61M |
| 3 |
Janney Montgomery Scott
Philadelphia,
Pennsylvania
|
+$2.76M |
| 4 |
HH
Hilltop Holdings
Dallas,
Texas
|
+$2.62M |
| 5 |
Bank of Montreal
Toronto,
Ontario, Canada
|
+$1.89M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Ameriprise
Minneapolis,
Minnesota
|
-$8.7M |
| 2 |
PNC Financial Services Group
Pittsburgh,
Pennsylvania
|
-$6.54M |
| 3 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$6.46M |
| 4 |
V
Veritable
Wilmington,
Delaware
|
-$3.43M |
| 5 |
UBS Group
Zurich,
Switzerland
|
-$1.3M |
BBN Hedge Fund Activity: Q3 2022 in Review
117 of the 5,805 institutional investors tracked by Wall St. Rank reported a position in BlackRock Taxable Municipal Bond Trust (BBN) for Q3 2022, worth a combined $255M — down 15% from $302M a quarter earlier.
Sellers outnumbered buyers: 23 funds closed out of BBN and 9 opened new positions — a net loss of 14 holders — while 31 trimmed existing stakes and 36 added.
The largest buyer was Penserra Capital Management, opening a new position worth an estimated $6.72M. The largest seller was Ameriprise, cutting an estimated $8.7M.
- 117 institutional investors held BlackRock Taxable Municipal Bond Trust (BBN) as of Q3 2022, down from 132 in Q2 2022.
- Funds reported $255M of BlackRock Taxable Municipal Bond Trust stock for Q3 2022, down 15% quarter-over-quarter.
- 9 funds opened new BlackRock Taxable Municipal Bond Trust positions in Q3 2022 and 23 closed out, a net change of -14 holders.
- The largest BlackRock Taxable Municipal Bond Trust buyer in Q3 2022 was Penserra Capital Management, an estimated $6.72M added.
- The largest BlackRock Taxable Municipal Bond Trust seller in Q3 2022 was Ameriprise, an estimated $8.7M sold.
Based on aggregated 13F filings for Q3 2022.