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MMU

Western Asset Managed Municipals Fund
MMU

68 hedge funds and large institutions have $70.6M invested in Western Asset Managed Municipals Fund in 2019 Q1 according to their latest regulatory filings, with 11 funds opening new positions, 19 increasing their positions, 13 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

46% more repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 13

3% more capital invested

Capital invested by funds: $68.8M → $70.6M (+$1.79M)

0.14% less ownership

Funds ownership: 12.55% → 12.41% (-0.14%)

4% less funds holding

Funds holding: 71 → 68 (-3)

15% less first-time investments, than exits

New positions opened: 11 | Existing positions closed: 13

Holders
68
Holders Change
-3
Holders Change %
-4.23%
% of All Funds
1.47%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
11
Increased
19
Reduced
13
Closed
13
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
COLIM
City of London Investment Management
United Kingdom
+$786K
2
Wells Fargo
Wells Fargo
California
+$529K
3
GC
Guggenheim Capital
Illinois
+$485K
4
Bank of America
Bank of America
North Carolina
+$432K
5
Morgan Stanley
Morgan Stanley
New York
+$352K

Top Sellers

Rank Fund Capital Flow
1
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
-$2.51M
2
CIA
Capital Investment Advisors
Georgia
-$931K
3
WAM
Wakefield Asset Management
Colorado
-$805K
4
SMC
Smith, Moore & Co
Missouri
-$552K
5
SGCA
Steel Grove Capital Advisors
Tennessee
-$302K
Name Holding Trade Value Shares
Change 		Change in
Stake
BSW
26
Buckingham Strategic Wealth
Missouri
$349K – – –
SI
27
Stephens Inc
Arkansas
$282K +$283K +21,447 New
IFAM
28
Institutional & Family Asset Management
Colorado
$274K +$33.3K +2,526 +14%
Susquehanna International Group
29
Susquehanna International Group
Pennsylvania
$267K +$267K +20,282 New
Stifel Financial
30
Stifel Financial
Missouri
$257K +$15.7K +1,189 +7%
WKWM
31
Walter & Keenan Wealth Management
Indiana
$255K – – –
PNC Financial Services Group
32
PNC Financial Services Group
Pennsylvania
$241K – – –
BHWM
33
Bar Harbor Wealth Management
New Hampshire
$239K – – –
SMC
34
Smith, Moore & Co
Missouri
$232K -$552K -41,903 -70%
MML Investors Services
35
MML Investors Services
Massachusetts
$213K +$962 +73 +0.5%
SWM
36
SeaCrest Wealth Management
New York
$203K – – –
PMG
37
ProVise Management Group
Florida
$201K – – –
Cohen & Steers
38
Cohen & Steers
New York
$193K – – –
CSA
39
Cottage Street Advisors
Massachusetts
$184K – – –
DAS
40
Dynamic Advisor Solutions
Arizona
$176K +$9.88K +750 +6%
LNWWM
41
Laird Norton Wetherby Wealth Management
California
$150K -$97.5K -7,399 -39%
APA
42
American Portfolios Advisors
New York
$143K +$43.8K +3,326 +44%
SB
43
Suntrust Banks
Georgia
$137K +$138K +10,499 New
PCMC
44
Paragon Capital Management (Colorado)
Colorado
$132K – – –
FAAS
45
First Allied Advisory Services
California
$131K – – –
CAL
46
Capital Advisors Ltd
Ohio
$127K +$127K +9,675 New
BBHC
47
Brown Brothers Harriman & Co
New York
$105K – – –
QCIG
48
Quad-Cities Investment Group
Iowa
$86K +$1.13K +86 +1%
JFGIW
49
Johnson Financial Group Inc (Wisconsin)
Wisconsin
$76K – – –
TCOV
50
Trust Company of Vermont
Vermont
$66K – – –
1
2
3 4

MMU Hedge Fund Activity: Q1 2019 in Review

68 of the 4,620 institutional investors tracked by Wall St. Rank reported a position in Western Asset Managed Municipals Fund (MMU) for Q1 2019, worth a combined $70.6M — up 2.6% from $68.8M a quarter earlier.

Sellers outnumbered buyers: 13 funds closed out of MMU and 11 opened new positions — a net loss of 2 holders — while 13 trimmed existing stakes and 19 added.

The largest buyer was City of London Investment Management, opening a new position worth an estimated $786K. The largest seller was Fiera Capital (Canada), cutting an estimated $2.51M.

  • 68 institutional investors held Western Asset Managed Municipals Fund (MMU) as of Q1 2019, down from 71 in Q4 2018.
  • Funds reported $70.6M of Western Asset Managed Municipals Fund stock for Q1 2019, up 2.6% quarter-over-quarter.
  • 11 funds opened new Western Asset Managed Municipals Fund positions in Q1 2019 and 13 closed out, a net change of -2 holders.
  • The largest Western Asset Managed Municipals Fund buyer in Q1 2019 was City of London Investment Management, an estimated $786K added.
  • The largest Western Asset Managed Municipals Fund seller in Q1 2019 was Fiera Capital (Canada), an estimated $2.51M sold.

Based on aggregated 13F filings for Q1 2019.