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MMU

Western Asset Managed Municipals Fund
MMU

67 hedge funds and large institutions have $73.1M invested in Western Asset Managed Municipals Fund in 2017 Q4 according to their latest regulatory filings, with 10 funds opening new positions, 17 increasing their positions, 14 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

25% more first-time investments, than exits

New positions opened: 10 | Existing positions closed: 8

21% more repeat investments, than reductions

Existing positions increased: 17 | Existing positions reduced: 14

2% more funds holding

Funds holding: 66 → 67 (+1)

0.47% less ownership

Funds ownership: 12.54% → 12.07% (-0.47%)

3% less capital invested

Capital invested by funds: $75.6M → $73.1M (-$2.5M)

Holders
67
Holders Change
+1
Holders Change %
+1.52%
% of All Funds
1.52%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
10
Increased
17
Reduced
14
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Wells Fargo
Wells Fargo
California
+$400K
2
SWP
Stratos Wealth Partners
Ohio
+$374K
3
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$265K
4
BHWM
Bar Harbor Wealth Management
New Hampshire
+$257K
5
AF
Affiance Financial
Minnesota
+$182K

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$1.36M
2
Invesco
Invesco
Georgia
-$1.14M
3
PCMC
Paragon Capital Management (Colorado)
Colorado
-$922K
4
UBS Group
UBS Group
Switzerland
-$555K
5
RCM
Robinson Capital Management
Michigan
-$488K
Name Holding Trade Value Shares
Change 		Change in
Stake
Northwestern Mutual Wealth Management
51
Northwestern Mutual Wealth Management
Wisconsin
$43K +$16.5K +1,165 +63%
IBOK
52
Independence Bank of Kentucky
Kentucky
$42K +$42.5K +3,000 New
GWM
53
Geneos Wealth Management
Colorado
$41K – – –
AWM
54
Avondale Wealth Management
Texas
$35K +$35.7K +2,518 New
Citigroup
55
Citigroup
New York
$34K +$5.66K +400 +20%
TCM
56
Tradewinds Capital Management
Washington
$33K – – –
Bank of Montreal
57
Bank of Montreal
Ontario, Canada
$28K – – –
KF
58
Krilogy Financial
Missouri
$28K – – –
MFT
59
Moisand Fitzgerald Tamayo
Florida
$19K – – –
RFM
60
Royal Fund Management
Florida
$16K – – –
JCM
61
Jacobi Capital Management
Pennsylvania
$13K +$170 +12 +1%
THWM
62
Taylor Hoffman Wealth Management
Virginia
$11K +$11.3K +796 New
CCM
63
Cribstone Capital Management
Maine
$10K – – –
CFA
64
Carroll Financial Associates
North Carolina
$9K – – –
HNB
65
Huntington National Bank
Ohio
$8K – – –
AWM
66
Aevitas Wealth Management
Massachusetts
$7K +$6.63K +468 New
RFC
67
Regions Financial Corp
Alabama
$7K +$6.84K +483 New
Northern Trust
68
Northern Trust
Illinois
$3K +$86.4K +6,100 +41%
ClearBridge Investments
69
ClearBridge Investments
New York
$2K – – –
Invesco
70
Invesco
Georgia
– -$1.14M -81,532 Closed
PCMC
71
Paragon Capital Management (Colorado)
Colorado
– -$922K -65,885 Closed
RCM
72
Robinson Capital Management
Michigan
– -$488K -34,831 Closed
Bank of New York Mellon
73
Bank of New York Mellon
New York
– -$175K -12,460 Closed
KeyBank National Association
74
KeyBank National Association
Ohio
– -$159K -11,330 Closed
WTB
75
Washington Trust Bank
Washington
– -$50K -3,606 Closed
1 2
3
4

MMU Hedge Fund Activity: Q4 2017 in Review

67 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in Western Asset Managed Municipals Fund (MMU) for Q4 2017, worth a combined $73.1M — down 3.3% from $75.6M a quarter earlier.

Buyers outnumbered sellers: 10 funds opened new MMU positions and 8 closed out — a net gain of 2 holders — while 17 added to existing stakes and 14 trimmed.

The largest buyer was Wells Fargo, adding an estimated $400K. The largest seller was Morgan Stanley, cutting an estimated $1.36M.

  • 67 institutional investors held Western Asset Managed Municipals Fund (MMU) as of Q4 2017, up from 66 in Q3 2017.
  • Funds reported $73.1M of Western Asset Managed Municipals Fund stock for Q4 2017, down 3.3% quarter-over-quarter.
  • 10 funds opened new Western Asset Managed Municipals Fund positions in Q4 2017 and 8 closed out, a net change of +2 holders.
  • The largest Western Asset Managed Municipals Fund buyer in Q4 2017 was Wells Fargo, an estimated $400K added.
  • The largest Western Asset Managed Municipals Fund seller in Q4 2017 was Morgan Stanley, an estimated $1.36M sold.

Based on aggregated 13F filings for Q4 2017.