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Nuveen Municipal Credit Income Fund
NZF

58 hedge funds and large institutions have $145M invested in Nuveen Municipal Credit Income Fund in 2014 Q2 according to their latest regulatory filings, with 6 funds opening new positions, 21 increasing their positions, 16 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

31% more repeat investments, than reductions

Existing positions increased: 21 | Existing positions reduced: 16

22% more capital invested

Capital invested by funds: $119M → $145M (+$26M)

4.01% more ownership

Funds ownership: 22.24% → 26.24% (+4%)

8% less funds holding

Funds holding: 63 → 58 (-5)

45% less first-time investments, than exits

New positions opened: 6 | Existing positions closed: 11

Holders
58
Holders Change
-5
Holders Change %
-7.94%
% of All Funds
1.67%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.09%
New
6
Increased
21
Reduced
16
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$12.8M
2
OHA
Oak Hill Advisors
New York
+$5.82M
3
BI
Bulldog Investors
New Jersey
+$4.49M
4
WAM
Weiss Asset Management
Massachusetts
+$1.37M
5
MIG
Mariner Investment Group
New York
+$1.03M

Top Sellers

Rank Fund Capital Flow
1
NCM
Newgate Capital Management
Connecticut
-$3.05M
2
Morgan Stanley
Morgan Stanley
New York
-$2.01M
3
BTS
BB&T Securities
Virginia
-$1.45M
4
ACM
Argentus Capital Management
Texas
-$968K
5
TC
TFS Capital
Pennsylvania
-$771K
Name Holding Trade Value Shares
Change 		Change in
Stake
LPL Financial
26
LPL Financial
California
$791K -$282K -21,037 -27%
TIM
27
Tortoise Investment Management
New York
$664K +$650K +48,558 New
VanEck Associates
28
VanEck Associates
New York
$626K +$108K +8,046 +21%
Commonwealth Equity Services
29
Commonwealth Equity Services
Massachusetts
$508K +$40.5K +3,026 +9%
YP
30
Yellowstone Partners
Idaho
$495K +$25.4K +1,900 +6%
RCM
31
Rivernorth Capital Management
Florida
$454K +$444K +33,176 New
VC
32
Vicus Capital
Pennsylvania
$387K +$167K +12,465 +79%
WAM
33
Wolverine Asset Management
Illinois
$361K +$327K +24,400 +1,186%
RCAG
34
Rehmann Capital Advisory Group
Michigan
$328K – – –
LCM
35
Landscape Capital Management
New Jersey
$302K -$102K -7,640 -26%
Barclays
36
Barclays
United Kingdom
$281K – – –
FFSOTS
37
Fiduciary Financial Services of The Southwest
Texas
$270K -$5.49K -410 -2%
First Trust Advisors
38
First Trust Advisors
Illinois
$227K +$222K +16,610 New
OC
39
Oppenheimer & Co
New York
$203K – – –
Stifel Financial
40
Stifel Financial
Missouri
$192K +$469 +35 +0.2%
Bank of America
41
Bank of America
North Carolina
$187K +$10K +750 +6%
DS
42
DRW Securities
Illinois
$178K – – –
CA
43
Cetera Advisors
Colorado
$138K +$134K +10,000 New
AIG
44
American International Group
New York
$110K – – –
Northwestern Mutual Wealth Management
45
Northwestern Mutual Wealth Management
Wisconsin
$105K – – –
Fifth Third Bancorp
46
Fifth Third Bancorp
Ohio
$78K +$66.9K +5,000 +682%
Deutsche Bank
47
Deutsche Bank
Germany
$73K +$26.8K +2,000 +59%
WA
48
WFG Advisors
Texas
$50K – – –
US Bancorp
49
US Bancorp
Minnesota
$33K -$10.2K -763 -24%
LTFS
50
Ladenburg Thalmann Financial Services
Florida
$27K – – –
1
2
3

NZF Hedge Fund Activity: Q2 2014 in Review

58 of the 3,479 institutional investors tracked by Wall St. Rank reported a position in Nuveen Municipal Credit Income Fund (NZF) for Q2 2014, worth a combined $145M — up 22% from $119M a quarter earlier.

Sellers outnumbered buyers: 11 funds closed out of NZF and 6 opened new positions — a net loss of 5 holders — while 16 trimmed existing stakes and 21 added.

The largest buyer was Karpus Investment Management, adding an estimated $12.8M. The largest seller was Newgate Capital Management, exiting entirely with an estimated $3.05M sold.

  • 58 institutional investors held Nuveen Municipal Credit Income Fund (NZF) as of Q2 2014, down from 63 in Q1 2014.
  • Funds reported $145M of Nuveen Municipal Credit Income Fund stock for Q2 2014, up 22% quarter-over-quarter.
  • 6 funds opened new Nuveen Municipal Credit Income Fund positions in Q2 2014 and 11 closed out, a net change of -5 holders.
  • The largest Nuveen Municipal Credit Income Fund buyer in Q2 2014 was Karpus Investment Management, an estimated $12.8M added.
  • The largest Nuveen Municipal Credit Income Fund seller in Q2 2014 was Newgate Capital Management, an estimated $3.05M sold.

Based on aggregated 13F filings for Q2 2014.