Nuveen Municipal Credit Income Fund
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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MSL
Mackay Shields LLC
New York
|
+$6.2M |
| 2 |
Cohen & Steers
New York
|
+$2.74M |
| 3 |
UBS Group
Zurich,
Switzerland
|
+$1.44M |
| 4 |
VanEck Associates
New York
|
+$943K |
| 5 |
Bank of America
Charlotte,
North Carolina
|
+$734K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$20.7M |
| 2 |
1CP
1607 Capital Partners
Richmond,
Virginia
|
-$18.8M |
| 3 |
YMRC
Yorktown Management & Research Company
Forest,
Virginia
|
-$5.57M |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$3.38M |
| 5 |
PNC Financial Services Group
Pittsburgh,
Pennsylvania
|
-$2.54M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
VKH
126
Virtu KCG Holdings
New York
| – | -$278K | -17,439 | Closed |
|
|
CA
127
Cetera Advisors
Denver,
Colorado
| – | -$248K | -15,523 | Closed |
|
|
FAAS
128
First Allied Advisory Services
San Diego,
California
| – | -$191K | -12,019 | Closed |
|
|
LCM
129
Landscape Capital Management
Englewood,
New Jersey
| – | -$188K | -11,840 | Closed |
|
|
SMH
130
Sanders Morris Harris
Houston,
Texas
| – | -$180K | -11,316 | Closed |
|
|
DA
131
Doliver Advisors
Houston,
Texas
| – | -$174K | -10,830 | Closed |
|
|
LNWWM
132
Laird Norton Wetherby Wealth Management
San Francisco,
California
| – | -$161K | -10,133 | Closed |
|
|
CYG
133
Clean Yield Group
Norwich,
Vermont
| – | -$38K | -2,380 | Closed |
|
|
GWS
134
Glassman Wealth Services
Vienna,
Virginia
| – | -$16K | -1,000 | Closed |
|
135
CAPTRUST Financial Advisors
Raleigh,
North Carolina
| – | -$15K | -911 | Closed |
|
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.