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MMU

Western Asset Managed Municipals Fund
MMU

67 hedge funds and large institutions have $76.1M invested in Western Asset Managed Municipals Fund in 2017 Q2 according to their latest regulatory filings, with 11 funds opening new positions, 20 increasing their positions, 14 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

175% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 4

43% more repeat investments, than reductions

Existing positions increased: 20 | Existing positions reduced: 14

10% more funds holding

Funds holding: 61 → 67 (+6)

4% more capital invested

Capital invested by funds: $73.3M → $76.1M (+$2.79M)

0.46% more ownership

Funds ownership: 12.43% → 12.89% (+0.46%)

Holders
67
Holders Change
+6
Holders Change %
+9.84%
% of All Funds
1.67%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
11
Increased
20
Reduced
14
Closed
4
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RCM
Robinson Capital Management
Michigan
+$3M
2
Morgan Stanley
Morgan Stanley
New York
+$993K
3
CRC
Curi RMB Capital
Illinois
+$395K
4
VanEck Associates
VanEck Associates
New York
+$289K
5
US Bancorp
US Bancorp
Minnesota
+$263K

Top Sellers

Rank Fund Capital Flow
1
Invesco
Invesco
Georgia
-$1.8M
2
LPL Financial
LPL Financial
California
-$593K
3
Bank of Montreal
Bank of Montreal
Ontario, Canada
-$353K
4
Wells Fargo
Wells Fargo
California
-$311K
5
PCMC
Paragon Capital Management (Colorado)
Colorado
-$240K
Name Holding Trade Value Shares
Change 		Change in
Stake
IA
26
IFP Advisors
Florida
$286K +$46K +3,319 +19%
FHA
27
Flagship Harbor Advisors
Massachusetts
$265K +$82K +5,920 +44%
DA
28
Doliver Advisors
Texas
$263K -$15.2K -1,100 -5%
PAG
29
Private Advisor Group
New Jersey
$262K -$25.7K -1,855 -9%
US Bancorp
30
US Bancorp
Minnesota
$262K +$263K +19,000 New
Millennium Management
31
Millennium Management
New York
$217K +$218K +15,756 New
MML Investors Services
32
MML Investors Services
Massachusetts
$215K -$127K -9,163 -37%
EFS
33
Essex Financial Services
Connecticut
$199K – – –
OC
34
Oppenheimer & Co
New York
$193K -$40.2K -2,900 -17%
CSA
35
Cottage Street Advisors
Massachusetts
$193K – – –
MF
36
Magnetar Financial
Illinois
$183K +$184K +13,291 New
RJT
37
Raymond James Trust
Florida
$178K -$5.48K -396 -3%
Bank of New York Mellon
38
Bank of New York Mellon
New York
$169K +$1.04K +75 +0.6%
KeyBank National Association
39
KeyBank National Association
Ohio
$156K – – –
CAL
40
Capital Advisors Ltd
Ohio
$148K – – –
IFAM
41
Institutional & Family Asset Management
Colorado
$144K +$144K +10,418 New
PNC Financial Services Group
42
PNC Financial Services Group
Pennsylvania
$140K +$111 +8 +0.1%
FAAS
43
First Allied Advisory Services
California
$138K – – –
SG Americas Securities
44
SG Americas Securities
New York
$136K +$137K +9,872 New
EFSCE
45
Enterprise Financial Services Corp (EFSC)
Missouri
$135K – – –
CAL
46
Capital Analysts LLC
Pennsylvania
$128K – – –
MIM
47
Macroview Investment Management
Maryland
$120K -$97.2K -7,019 -45%
BBHC
48
Brown Brothers Harriman & Co
New York
$110K – – –
Creative Planning
49
Creative Planning
Kansas
$106K +$20.8K +1,501 +24%
TCOV
50
Trust Company of Vermont
Vermont
$102K – – –
1
2
3

MMU Hedge Fund Activity: Q2 2017 in Review

67 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Western Asset Managed Municipals Fund (MMU) for Q2 2017, worth a combined $76.1M — up 3.8% from $73.3M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new MMU positions and 4 closed out — a net gain of 7 holders — while 20 added to existing stakes and 14 trimmed.

The largest buyer was Robinson Capital Management, opening a new position worth an estimated $3M. The largest seller was Invesco, cutting an estimated $1.8M.

  • 67 institutional investors held Western Asset Managed Municipals Fund (MMU) as of Q2 2017, up from 61 in Q1 2017.
  • Funds reported $76.1M of Western Asset Managed Municipals Fund stock for Q2 2017, up 3.8% quarter-over-quarter.
  • 11 funds opened new Western Asset Managed Municipals Fund positions in Q2 2017 and 4 closed out, a net change of +7 holders.
  • The largest Western Asset Managed Municipals Fund buyer in Q2 2017 was Robinson Capital Management, an estimated $3M added.
  • The largest Western Asset Managed Municipals Fund seller in Q2 2017 was Invesco, an estimated $1.8M sold.

Based on aggregated 13F filings for Q2 2017.