BlackRock Long-Term Municipal Advantage Trust
BTA
BTA was delisted on the 20th of February, 2026.
46 hedge funds and large institutions have $29.5M invested in BlackRock Long-Term Municipal Advantage Trust in 2025 Q3 according to their latest regulatory filings, with 7 funds opening new positions, 12 increasing their positions, 14 reducing their positions, and 6 closing their positions.
17% more first-time investments, than exits
New positions opened: 7 | Existing positions closed: 6
2% more funds holding
Funds holding: 45 → 46 (+1)
7% more capital inflows, than outflows
Capital inflows: $4.81M | Capital outflows: $4.49M
0.26% more ownership
Funds ownership: 22.63% → 22.89% (+0.26%)
14% less repeat investments, than reductions
Existing positions increased: 12 | Existing positions reduced: 14
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Sit Investment Associates
Minneapolis,
Minnesota
|
+$2.32M |
| 2 |
Cohen & Steers
New York
|
+$275K |
| 3 |
Morgan Stanley
New York
|
+$260K |
| 4 |
Bank of New York Mellon
New York
|
+$197K |
| 5 |
Curi RMB Capital
Chicago,
Illinois
|
+$130K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wolverine Asset Management
Chicago,
Illinois
|
-$1.29M |
| 2 |
Guggenheim Capital
Chicago,
Illinois
|
-$955K |
| 3 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$628K |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$373K |
| 5 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
-$350K |
BTA Hedge Fund Activity: Q3 2025 in Review
46 of the 7,647 institutional investors tracked by Wall St. Rank reported a position in BlackRock Long-Term Municipal Advantage Trust (BTA) for Q3 2025, worth a combined $29.5M — up 5.7% from $27.9M a quarter earlier.
Buyers outnumbered sellers: 7 funds opened new BTA positions and 6 closed out — a net gain of 1 holder — while 12 added to existing stakes and 14 trimmed.
The largest buyer was Sit Investment Associates, adding an estimated $2.32M. The largest seller was Wolverine Asset Management, exiting entirely with an estimated $1.29M sold.
- 46 institutional investors held BlackRock Long-Term Municipal Advantage Trust (BTA) as of Q3 2025, up from 45 in Q2 2025.
- Funds reported $29.5M of BlackRock Long-Term Municipal Advantage Trust stock for Q3 2025, up 5.7% quarter-over-quarter.
- 7 funds opened new BlackRock Long-Term Municipal Advantage Trust positions in Q3 2025 and 6 closed out, a net change of +1 holder.
- The largest BlackRock Long-Term Municipal Advantage Trust buyer in Q3 2025 was Sit Investment Associates, an estimated $2.32M added.
- The largest BlackRock Long-Term Municipal Advantage Trust seller in Q3 2025 was Wolverine Asset Management, an estimated $1.29M sold.
Based on aggregated 13F filings for Q3 2025.