BlackRock Long-Term Municipal Advantage Trust
BTA
BTA was delisted on the 20th of February, 2026.
46 hedge funds and large institutions have $33.8M invested in BlackRock Long-Term Municipal Advantage Trust in 2025 Q4 according to their latest regulatory filings, with 7 funds opening new positions, 12 increasing their positions, 12 reducing their positions, and 7 closing their positions.
15% more capital invested
Capital invested by funds: $29.5M → $33.8M (+$4.3M)
4.17% more ownership
Funds ownership: 22.89% → 27.06% (+4.2%)
0% more funds holding
Funds holding: 46 → 46 (0)
0% more first-time investments, than exits
New positions opened: 7 | Existing positions closed: 7
0% more repeat investments, than reductions
Existing positions increased: 12 | Existing positions reduced: 12
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$3.56M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$1.46M |
| 3 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
+$637K |
| 4 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
+$254K |
| 5 |
ACM
Arlington Capital Management
Arlington Heights,
Illinois
|
+$177K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SWA
Stratos Wealth Advisors
Beachwood,
Ohio
|
-$385K |
| 2 |
GC
Guggenheim Capital
Chicago,
Illinois
|
-$200K |
| 3 |
HWAM
Hennion & Walsh Asset Management
Parsippany,
New Jersey
|
-$196K |
| 4 |
Raymond James Financial
St Petersburg,
Florida
|
-$172K |
| 5 |
SIM
Stratos Investment Management
Beachwood,
Ohio
|
-$167K |
BTA Hedge Fund Activity: Q4 2025 in Review
46 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in BlackRock Long-Term Municipal Advantage Trust (BTA) for Q4 2025, worth a combined $33.8M — up 15% from $29.5M a quarter earlier.
Fund positioning in BTA was balanced in Q4 2025: 7 funds opened new positions, 7 closed out, 12 added to existing stakes and 12 trimmed.
The largest buyer was Sit Investment Associates, adding an estimated $3.56M. The largest seller was Stratos Wealth Advisors, exiting entirely with an estimated $385K sold.
- 46 institutional investors held BlackRock Long-Term Municipal Advantage Trust (BTA) as of Q4 2025, unchanged from Q3 2025.
- Funds reported $33.8M of BlackRock Long-Term Municipal Advantage Trust stock for Q4 2025, up 15% quarter-over-quarter.
- 7 funds opened new BlackRock Long-Term Municipal Advantage Trust positions in Q4 2025 and 7 closed out, a net change of 0 holders.
- The largest BlackRock Long-Term Municipal Advantage Trust buyer in Q4 2025 was Sit Investment Associates, an estimated $3.56M added.
- The largest BlackRock Long-Term Municipal Advantage Trust seller in Q4 2025 was Stratos Wealth Advisors, an estimated $385K sold.
Based on aggregated 13F filings for Q4 2025.