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DUC

Duff & Phelps Utility & Corporate Bond Trust
DUC

Delisted

DUC was delisted on the 5th of March, 2021.

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39 hedge funds and large institutions have $149M invested in Duff & Phelps Utility & Corporate Bond Trust in 2019 Q3 according to their latest regulatory filings, with 4 funds opening new positions, 10 increasing their positions, 11 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

10% more capital invested

Capital invested by funds: $136M → $149M (+$13.5M)

9% less repeat investments, than reductions

Existing positions increased: 10 | Existing positions reduced: 11

3% less funds holding

Funds holding: 40 → 39 (-1)

20% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 5

Holders
39
Holders Change
-1
Holders Change %
-2.5%
% of All Funds
0.86%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.02%
New
4
Increased
10
Reduced
11
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$23.7M
2
Invesco
Invesco
Georgia
+$2.71M
3
IA
Icon Advisers
Colorado
+$1.54M
4
RCM
Rivernorth Capital Management
Florida
+$975K
5
1CP
1607 Capital Partners
Virginia
+$806K

Top Sellers

Rank Fund Capital Flow
1
Wells Fargo
Wells Fargo
California
-$21.2M
2
SIA
Sit Investment Associates
Minnesota
-$937K
3
TJHA
Thomas J. Herzfeld Advisors
Florida
-$516K
4
SFS
Shaker Financial Services
Virginia
-$446K
5
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$202K
Name Holding Trade Value Shares
Change 		Change in
Stake
FIA
26
FNY Investment Advisers
New York
$32K -$164K -18,511 -84%
WB
27
Webster Bank
Connecticut
$29K – – –
LTFS
28
Ladenburg Thalmann Financial Services
Florida
$28K +$115 +13 +0.4%
NFG
29
Next Financial Group
Texas
$19K – – –
SBL
30
Sargent Bickham Lagudis
Colorado
$18K – – –
US Bancorp
31
US Bancorp
Minnesota
$13K – – –
RFA
32
Reilly Financial Advisors
California
$12K – – –
RCAG
33
Rehmann Capital Advisory Group
Michigan
$10.9K +$115 +13 +1%
QCIG
34
Quad-Cities Investment Group
Iowa
$8K – – –
AG
35
Advisor Group
Arizona
$5K – – –
FHA
36
Flagship Harbor Advisors
Massachusetts
$3K – – –
GWM
37
Geneos Wealth Management
Colorado
$2K – – –
RCM
38
Rivernorth Capital Management
Florida
$1.01K +$975K +109,732 New
BI
39
Bulldog Investors
New Jersey
– -$1.34K -153,517 Closed
WAM
40
Wolverine Asset Management
Illinois
– -$165K -18,903 Closed
LCM
41
Landscape Capital Management
New Jersey
– -$156K -17,777 Closed
Mariner
42
Mariner
Kansas
– -$110K -12,588 Closed
TA
43
TCG Advisors
Texas
– -$2K -216 Closed
Fidelity Investments
44
Fidelity Investments
Massachusetts
– +$9 +1 New
1
2

DUC Hedge Fund Activity: Q3 2019 in Review

39 of the 4,560 institutional investors tracked by Wall St. Rank reported a position in Duff & Phelps Utility & Corporate Bond Trust (DUC) for Q3 2019, worth a combined $149M — up 9.9% from $136M a quarter earlier.

Sellers outnumbered buyers: 5 funds closed out of DUC and 4 opened new positions — a net loss of 1 holder — while 11 trimmed existing stakes and 10 added.

The largest buyer was Karpus Investment Management, adding an estimated $23.7M. The largest seller was Wells Fargo, cutting an estimated $21.2M.

  • 39 institutional investors held Duff & Phelps Utility & Corporate Bond Trust (DUC) as of Q3 2019, down from 40 in Q2 2019.
  • Funds reported $149M of Duff & Phelps Utility & Corporate Bond Trust stock for Q3 2019, up 9.9% quarter-over-quarter.
  • 4 funds opened new Duff & Phelps Utility & Corporate Bond Trust positions in Q3 2019 and 5 closed out, a net change of -1 holder.
  • The largest Duff & Phelps Utility & Corporate Bond Trust buyer in Q3 2019 was Karpus Investment Management, an estimated $23.7M added.
  • The largest Duff & Phelps Utility & Corporate Bond Trust seller in Q3 2019 was Wells Fargo, an estimated $21.2M sold.

Based on aggregated 13F filings for Q3 2019.