BlackRock Long-Term Municipal Advantage Trust
BTA
BTA was delisted on the 20th of February, 2026.
45 hedge funds and large institutions have $27.9M invested in BlackRock Long-Term Municipal Advantage Trust in 2025 Q2 according to their latest regulatory filings, with 7 funds opening new positions, 12 increasing their positions, 14 reducing their positions, and 1 closing their positions.
600% more first-time investments, than exits
New positions opened: 7 | Existing positions closed: 1
10% more funds holding
Funds holding: 41 → 45 (+4)
0.05% more ownership
Funds ownership: 22.58% → 22.63% (+0.05%)
14% less repeat investments, than reductions
Existing positions increased: 12 | Existing positions reduced: 14
18% less capital invested
Capital invested by funds: $34.2M → $27.9M (-$6.28M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
+$914K |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$644K |
| 3 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
+$349K |
| 4 |
RSA
River Street Advisors
Aurora,
Illinois
|
+$173K |
| 5 |
AF
Allworth Financial
Folsom,
California
|
+$164K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Nuveen
Charlotte,
North Carolina
|
-$1.03M |
| 2 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$1.01M |
| 3 |
Wells Fargo
San Francisco,
California
|
-$151K |
| 4 |
GWSG
GPS Wealth Strategies Group
Centennial,
Colorado
|
-$108K |
| 5 |
LPL Financial
San Diego,
California
|
-$86.8K |
BTA Hedge Fund Activity: Q2 2025 in Review
45 of the 7,612 institutional investors tracked by Wall St. Rank reported a position in BlackRock Long-Term Municipal Advantage Trust (BTA) for Q2 2025, worth a combined $27.9M — down 18% from $34.2M a quarter earlier.
Buyers outnumbered sellers: 7 funds opened new BTA positions and 1 closed out — a net gain of 6 holders — while 12 added to existing stakes and 14 trimmed.
The largest buyer was Wolverine Asset Management, adding an estimated $914K. The largest seller was Nuveen, cutting an estimated $1.03M.
- 45 institutional investors held BlackRock Long-Term Municipal Advantage Trust (BTA) as of Q2 2025, up from 41 in Q1 2025.
- Funds reported $27.9M of BlackRock Long-Term Municipal Advantage Trust stock for Q2 2025, down 18% quarter-over-quarter.
- 7 funds opened new BlackRock Long-Term Municipal Advantage Trust positions in Q2 2025 and 1 closed out, a net change of +6 holders.
- The largest BlackRock Long-Term Municipal Advantage Trust buyer in Q2 2025 was Wolverine Asset Management, an estimated $914K added.
- The largest BlackRock Long-Term Municipal Advantage Trust seller in Q2 2025 was Nuveen, an estimated $1.03M sold.
Based on aggregated 13F filings for Q2 2025.