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Nuveen Municipal Credit Income Fund
NZF

117 hedge funds and large institutions have $285M invested in Nuveen Municipal Credit Income Fund in 2016 Q3 according to their latest regulatory filings, with 8 funds opening new positions, 35 increasing their positions, 33 reducing their positions, and 16 closing their positions.

New
Increased
Maintained
Reduced
Closed

6% more repeat investments, than reductions

Existing positions increased: 35 | Existing positions reduced: 33

1.99% less ownership

Funds ownership: 14.42% → 12.42% (-2%)

6% less funds holding

Funds holding: 125 → 117 (-8)

15% less capital invested

Capital invested by funds: $335M → $285M (-$49.4M)

33% less funds holding in top 10

Funds holding in top 10: 3 → 2 (-1)

50% less first-time investments, than exits

New positions opened: 8 | Existing positions closed: 16

Holders
117
Holders Change
-8
Holders Change %
-6.4%
% of All Funds
3.12%
Holding in Top 10
2
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-33.33%
% of All Funds
0.05%
New
8
Increased
35
Reduced
33
Closed
16
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
MSL
Mackay Shields LLC
New York
+$6.2M
2
Cohen & Steers
Cohen & Steers
New York
+$2.74M
3
UBS Group
UBS Group
Switzerland
+$1.44M
4
VanEck Associates
VanEck Associates
New York
+$943K
5
Bank of America
Bank of America
North Carolina
+$734K

Top Sellers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
-$20.7M
2
1CP
1607 Capital Partners
Virginia
-$18.8M
3
YMRC
Yorktown Management & Research Company
Virginia
-$5.57M
4
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$3.38M
5
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
-$2.54M
Name Holding Trade Value Shares
Change 		Change in
Stake
JWA
26
JFS Wealth Advisors
Pennsylvania
$1.93M +$49K +3,088 +3%
PNC Financial Services Group
27
PNC Financial Services Group
Pennsylvania
$1.61M -$2.54M -159,983 -61%
YP
28
Yellowstone Partners
Idaho
$1.59M – – –
Cambridge Investment Research Advisors
29
Cambridge Investment Research Advisors
Iowa
$1.54M +$145K +9,123 +10%
GEM
30
Global Endowment Management
North Carolina
$1.5M – – –
HK
31
Horizon Kinetics
New York
$1.45M +$3.94K +248 +0.3%
WKWM
32
Walter & Keenan Wealth Management
Indiana
$1.32M +$34.2K +2,153 +3%
Stifel Financial
33
Stifel Financial
Missouri
$1.29M +$71.3K +4,492 +6%
NCM
34
Narwhal Capital Management
Georgia
$1.22M – – –
First Trust Advisors
35
First Trust Advisors
Illinois
$1.2M +$33.7K +2,123 +3%
SCM
36
Sterneck Capital Management
Missouri
$1.02M – – –
NPC
37
National Planning Corporation
California
$920K -$33.7K -2,124 -3%
DLG
38
Daniel L. Goodwin
$914K – – –
Creative Planning
39
Creative Planning
Kansas
$881K +$77.4K +4,874 +10%
SFWA
40
Summit Financial Wealth Advisors
Louisiana
$810K -$12.3K -776 -1%
BFEC
41
Benjamin F. Edwards & Company
Missouri
$788K +$7.88K +496 +1%
CBTWT
42
Community Bank & Trust (Waco, Texas)
Texas
$782K – – –
AWA
43
Arete Wealth Advisors
Illinois
$773K +$203K +12,796 +35%
IA
44
IFP Advisors
Florida
$617K +$257K +16,150 +70%
RJFSA
45
Raymond James Financial Services Advisors
Florida
$612K +$42.5K +2,674 +7%
NL
46
NWAM LLC
Washington
$577K – – –
PMG
47
ProVise Management Group
Florida
$566K +$34.2K +2,154 +6%
MIM
48
Macroview Investment Management
Maryland
$554K -$178K -11,177 -24%
OC
49
Oppenheimer & Co
New York
$548K -$38.4K -2,417 -6%
WS
50
Wedbush Securities
California
$540K +$138K +8,678 +34%
1
2
3 4 5

NZF Hedge Fund Activity: Q3 2016 in Review

117 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in Nuveen Municipal Credit Income Fund (NZF) for Q3 2016, worth a combined $285M — down 15% from $335M a quarter earlier.

Sellers outnumbered buyers: 16 funds closed out of NZF and 8 opened new positions — a net loss of 8 holders — while 33 trimmed existing stakes and 35 added.

The largest buyer was Mackay Shields LLC, adding an estimated $6.2M. The largest seller was Karpus Investment Management, cutting an estimated $20.7M.

  • 117 institutional investors held Nuveen Municipal Credit Income Fund (NZF) as of Q3 2016, down from 125 in Q2 2016.
  • Funds reported $285M of Nuveen Municipal Credit Income Fund stock for Q3 2016, down 15% quarter-over-quarter.
  • 8 funds opened new Nuveen Municipal Credit Income Fund positions in Q3 2016 and 16 closed out, a net change of -8 holders.
  • The largest Nuveen Municipal Credit Income Fund buyer in Q3 2016 was Mackay Shields LLC, an estimated $6.2M added.
  • The largest Nuveen Municipal Credit Income Fund seller in Q3 2016 was Karpus Investment Management, an estimated $20.7M sold.

Based on aggregated 13F filings for Q3 2016.