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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
HNB
76
Huntington National Bank
Ohio
$260K +$262K +16,500 New
OIA
77
Optimum Investment Advisors
Illinois
$249K – – –
William Blair & Company
78
William Blair & Company
Illinois
$242K +$60.2K +3,791 +33%
SB
79
Suntrust Banks
Georgia
$208K – – –
PVWM
80
Point View Wealth Management
New Jersey
$205K – – –
TC
81
TFS Capital
Pennsylvania
$198K -$562K -35,390 -74%
MC
82
Matisse Capital
Oregon
$197K -$149K -9,363 -43%
ECM
83
Evergreen Capital Management
Washington
$194K +$196K +12,354 New
LA
84
LVW Advisors
New York
$185K – – –
IH
85
IFC Holdings
Florida
$180K +$14.3K +900 +9%
MFS
86
MSI Financial Services
Massachusetts
$169K -$118K -7,444 -41%
GWM
87
Geneos Wealth Management
Colorado
$143K – – –
WEC
88
Winslow Evans & Crocker
Massachusetts
$124K +$125K +7,864 New
US Bancorp
89
US Bancorp
Minnesota
$120K – – –
BKA
90
Brick & Kyle Associates
Pennsylvania
$93K – – –
NFG
91
Next Financial Group
Texas
$88K +$56.1K +3,533 +173%
RPG
92
Risk Paradigm Group
Texas
$63K – – –
EFSCE
93
Enterprise Financial Services Corp (EFSC)
Missouri
$62K – – –
KF
94
Krilogy Financial
Missouri
$54K – – –
Deutsche Bank
95
Deutsche Bank
Germany
$53K -$84.8K -5,341 -61%
SSB
96
Sandy Spring Bank
Maryland
$48K – – –
RAM
97
Riggs Asset Management
Pennsylvania
$43K – – –
Bank of Montreal
98
Bank of Montreal
Ontario, Canada
$43K +$43.6K +2,746 New
CHC
99
City Holding Co
West Virginia
$39K – – –
PSUF
100
People's United Financial
Connecticut
$31K – – –
2 3
4
5 6

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.