BlackRock Long-Term Municipal Advantage Trust
BTA
BTA was delisted on the 20th of February, 2026.
41 hedge funds and large institutions have $34.2M invested in BlackRock Long-Term Municipal Advantage Trust in 2025 Q1 according to their latest regulatory filings, with 5 funds opening new positions, 13 increasing their positions, 7 reducing their positions, and 7 closing their positions.
86% more repeat investments, than reductions
Existing positions increased: 13 | Existing positions reduced: 7
30% more capital invested
Capital invested by funds: $26.3M → $34.2M (+$7.9M)
2.55% more ownership
Funds ownership: 20.03% → 22.58% (+2.6%)
7% less funds holding
Funds holding: 44 → 41 (-3)
29% less first-time investments, than exits
New positions opened: 5 | Existing positions closed: 7
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$2.91M |
| 2 |
HWAM
Hennion & Walsh Asset Management
Parsippany,
New Jersey
|
+$1.19M |
| 3 |
Nuveen
Charlotte,
North Carolina
|
+$1.02M |
| 4 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
+$345K |
| 5 |
Morgan Stanley
New York
|
+$224K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
-$516K |
| 2 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$472K |
| 3 |
Invesco
Atlanta,
Georgia
|
-$378K |
| 4 |
Nomura Holdings
Tokyo,
Japan
|
-$176K |
| 5 |
Raymond James Financial
St Petersburg,
Florida
|
-$165K |
BTA Hedge Fund Activity: Q1 2025 in Review
41 of the 7,471 institutional investors tracked by Wall St. Rank reported a position in BlackRock Long-Term Municipal Advantage Trust (BTA) for Q1 2025, worth a combined $34.2M — up 30% from $26.3M a quarter earlier.
Sellers outnumbered buyers: 7 funds closed out of BTA and 5 opened new positions — a net loss of 2 holders — while 7 trimmed existing stakes and 13 added.
The largest buyer was Rivernorth Capital Management, opening a new position worth an estimated $2.91M. The largest seller was UBS Group, cutting an estimated $516K.
- 41 institutional investors held BlackRock Long-Term Municipal Advantage Trust (BTA) as of Q1 2025, down from 44 in Q4 2024.
- Funds reported $34.2M of BlackRock Long-Term Municipal Advantage Trust stock for Q1 2025, up 30% quarter-over-quarter.
- 5 funds opened new BlackRock Long-Term Municipal Advantage Trust positions in Q1 2025 and 7 closed out, a net change of -2 holders.
- The largest BlackRock Long-Term Municipal Advantage Trust buyer in Q1 2025 was Rivernorth Capital Management, an estimated $2.91M added.
- The largest BlackRock Long-Term Municipal Advantage Trust seller in Q1 2025 was UBS Group, an estimated $516K sold.
Based on aggregated 13F filings for Q1 2025.