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Nuveen AMT-Free Quality Municipal Income Fund
NEA

237 hedge funds and large institutions have $941M invested in Nuveen AMT-Free Quality Municipal Income Fund in 2020 Q2 according to their latest regulatory filings, with 19 funds opening new positions, 75 increasing their positions, 58 reducing their positions, and 34 closing their positions.

New
Increased
Maintained
Reduced
Closed

29% more repeat investments, than reductions

Existing positions increased: 75 | Existing positions reduced: 58

6% more capital invested

Capital invested by funds: $887M → $941M (+$53.5M)

0.74% more ownership

Funds ownership: 23.54% → 24.29% (+0.74%)

7% less funds holding

Funds holding: 256 → 237 (-19)

14% less funds holding in top 10

Funds holding in top 10: 7 → 6 (-1)

44% less first-time investments, than exits

New positions opened: 19 | Existing positions closed: 34

Holders
237
Holders Change
-19
Holders Change %
-7.42%
% of All Funds
4.86%
Holding in Top 10
6
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-14.29%
% of All Funds
0.12%
New
19
Increased
75
Reduced
58
Closed
34
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
+$36.2M
2
BI
Bramshill Investments
Florida
+$17.4M
3
BlackRock
BlackRock
New York
+$17.1M
4
GC
Guggenheim Capital
Illinois
+$16.1M
5
Rockefeller Capital Management
Rockefeller Capital Management
New York
+$4.73M

Top Sellers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
-$30.6M
2
OA
Oxbow Advisors
Texas
-$8.14M
3
Wells Fargo
Wells Fargo
California
-$7.24M
4
Morgan Stanley
Morgan Stanley
New York
-$6.01M
5
Stifel Financial
Stifel Financial
Missouri
-$4.41M
Name Holding Trade Value Shares
Change 		Change in
Stake
EDRIA
76
Edmonds Duncan Registered Investment Advisors
Kansas
$863K – – –
ASN
77
Advisory Services Network
Georgia
$858K +$625K +46,272 +300%
MAFM
78
Mid Atlantic Financial Management
Pennsylvania
$852K -$7.34K -543 -0.9%
Envestnet Asset Management
79
Envestnet Asset Management
Illinois
$802K +$75.9K +5,613 +11%
Fifth Third Bancorp
80
Fifth Third Bancorp
Ohio
$745K – – –
MML Investors Services
81
MML Investors Services
Massachusetts
$725K +$98K +7,249 +16%
CAN
82
Claraphi Advisory Network
United States
$711K +$101K +7,460 +17%
M&T Bank
83
M&T Bank
New York
$675K -$12.3K -908 -2%
WS
84
Wedbush Securities
California
$672K -$83.4K -6,172 -11%
RPA
85
Rock Point Advisors
Vermont
$672K – – –
TFS
86
TrustCore Financial Services
Tennessee
$667K -$42.6K -3,154 -6%
MFG
87
Magnus Financial Group
New York
$663K +$243K +18,000 +61%
MC
88
Moors & Cabot
Massachusetts
$654K +$54.1K +4,000 +9%
HCM
89
Hollencrest Capital Management
California
$642K -$52.3K -3,872 -8%
WB
90
WesBanco Bank
West Virginia
$613K – – –
BFA
91
Beaumont Financial Advisors
Massachusetts
$599K – – –
NCM
92
Next Capital Management
New York
$588K – – –
FAAS
93
First Allied Advisory Services
California
$575K +$28K +2,070 +5%
OC
94
Oppenheimer & Co
New York
$571K +$76.4K +5,652 +16%
WT
95
Whittier Trust
California
$570K +$23.5K +1,736 +4%
KP
96
Keel Point
Alabama
$564K -$23.5K -1,739 -4%
SPIA
97
Steward Partners Investment Advisory
New York
$548K +$78.7K +5,821 +17%
BFA
98
Bragg Financial Advisors
North Carolina
$521K – – –
EVM
99
Eaton Vance Management
Massachusetts
$515K +$501K +37,068 New
RCA
100
Ranch Capital Advisors
Florida
$514K – – –
2 3
4
5 6

NEA Hedge Fund Activity: Q2 2020 in Review

237 of the 4,877 institutional investors tracked by Wall St. Rank reported a position in Nuveen AMT-Free Quality Municipal Income Fund (NEA) for Q2 2020, worth a combined $941M — up 6% from $887M a quarter earlier.

Sellers outnumbered buyers: 34 funds closed out of NEA and 19 opened new positions — a net loss of 15 holders — while 58 trimmed existing stakes and 75 added.

The largest buyer was Rivernorth Capital Management, adding an estimated $36.2M. The largest seller was Karpus Investment Management, cutting an estimated $30.6M.

  • 237 institutional investors held Nuveen AMT-Free Quality Municipal Income Fund (NEA) as of Q2 2020, down from 256 in Q1 2020.
  • Funds reported $941M of Nuveen AMT-Free Quality Municipal Income Fund stock for Q2 2020, up 6% quarter-over-quarter.
  • 19 funds opened new Nuveen AMT-Free Quality Municipal Income Fund positions in Q2 2020 and 34 closed out, a net change of -15 holders.
  • The largest Nuveen AMT-Free Quality Municipal Income Fund buyer in Q2 2020 was Rivernorth Capital Management, an estimated $36.2M added.
  • The largest Nuveen AMT-Free Quality Municipal Income Fund seller in Q2 2020 was Karpus Investment Management, an estimated $30.6M sold.

Based on aggregated 13F filings for Q2 2020.