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Nuveen Municipal Credit Income Fund
NZF

57 hedge funds and large institutions have $79.7M invested in Nuveen Municipal Credit Income Fund in 2013 Q3 according to their latest regulatory filings, with 8 funds opening new positions, 19 increasing their positions, 18 reducing their positions, and 2 closing their positions.

New
Increased
Maintained
Reduced
Closed

300% more first-time investments, than exits

New positions opened: 8 | Existing positions closed: 2

36% more capital invested

Capital invested by funds: $58.4M → $79.7M (+$21.3M)

12% more funds holding

Funds holding: 51 → 57 (+6)

4.42% more ownership

Funds ownership: 10.95% → 15.37% (+4.4%)

6% more repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 18

Holders
57
Holders Change
+6
Holders Change %
+11.76%
% of All Funds
1.85%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.03%
New
8
Increased
19
Reduced
18
Closed
2
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
FTCM
Fir Tree Capital Management
New York
+$6.59M
2
KIM
Karpus Investment Management
New York
+$5.48M
3
MIG
Mariner Investment Group
New York
+$3.33M
4
Wells Fargo
Wells Fargo
California
+$2.24M
5
Morgan Stanley
Morgan Stanley
New York
+$1.45M

Top Sellers

1
NCM
Newgate Capital Management
Connecticut
-$736K
2
DA
Doliver Advisors
Texas
-$619K
3
WAM
Wolverine Asset Management
Illinois
-$476K
4
AAM
Advisors Asset Management
Colorado
-$368K
5
U
UBS
Switzerland
-$304K
Name Holding Trade Value Shares
Change 		Change in
Stake
KIM
1
Karpus Investment Management
New York
$9.32M +$5.48M +441,285 +151%
Morgan Stanley
2
Morgan Stanley
New York
$7.02M +$1.45M +116,352 +27%
FTCM
3
Fir Tree Capital Management
New York
$6.74M +$6.59M +530,730 New
MIG
4
Mariner Investment Group
New York
$5.59M +$3.33M +268,389 +156%
Wells Fargo
5
Wells Fargo
California
$5.22M +$2.24M +180,062 +78%
CRAM
6
Claren Road Asset Management
New York
$5.05M – – –
AAM
7
Advisors Asset Management
Colorado
$3.7M -$368K -29,615 -9%
NCM
8
Newgate Capital Management
Connecticut
$3.39M -$736K -59,269 -18%
U
9
UBS
Switzerland
$3.05M -$304K -24,505 -9%
PPA
10
Parametric Portfolio Associates
Washington
$2.86M +$1.17M +94,433 +72%
GC
11
Guggenheim Capital
Illinois
$2.71M +$642K +51,655 +32%
CA
12
Cornerstone Advisors
North Carolina
$2.62M – – –
TJHA
13
Thomas J. Herzfeld Advisors
Florida
$2.34M +$190K +15,320 +9%
TCM
14
Texan Capital Management
Texas
$1.49M – – –
BTS
15
BB&T Securities
Virginia
$1.4M +$137K +11,032 New
TC
16
TFS Capital
Pennsylvania
$1.35M -$197K -15,892 -13%
AQR Capital Management
17
AQR Capital Management
Connecticut
$1.34M +$1.31M +105,730 New
Invesco
18
Invesco
Georgia
$1.13M -$200K -16,085 -15%
LPL Financial
19
LPL Financial
California
$1.12M +$218K +17,557 +24%
ACM
20
Argentus Capital Management
Texas
$1.04M -$174K -14,004 -15%
HK
21
Horizon Kinetics
New York
$1.02M +$646 +52 +0.1%
Royal Bank of Canada
22
Royal Bank of Canada
Ontario, Canada
$995K +$685K +55,140 +237%
VAM
23
Visium Asset Management
New York
$771K +$359K +28,901 +91%
WI
24
Western Investment
Utah
$750K +$386K +31,100 +111%
HighTower Advisors
25
HighTower Advisors
Illinois
$745K +$729K +58,662 New
1
2 3

NZF Hedge Fund Activity: Q3 2013 in Review

57 of the 3,084 institutional investors tracked by Wall St. Rank reported a position in Nuveen Municipal Credit Income Fund (NZF) for Q3 2013, worth a combined $79.7M — up 36% from $58.4M a quarter earlier.

Buyers outnumbered sellers: 8 funds opened new NZF positions and 2 closed out — a net gain of 6 holders — while 19 added to existing stakes and 18 trimmed.

The largest buyer was Fir Tree Capital Management, opening a new position worth an estimated $6.59M. The largest seller was Newgate Capital Management, cutting an estimated $736K.

  • 57 institutional investors held Nuveen Municipal Credit Income Fund (NZF) as of Q3 2013, up from 51 in Q2 2013.
  • Funds reported $79.7M of Nuveen Municipal Credit Income Fund stock for Q3 2013, up 36% quarter-over-quarter.
  • 8 funds opened new Nuveen Municipal Credit Income Fund positions in Q3 2013 and 2 closed out, a net change of +6 holders.
  • The largest Nuveen Municipal Credit Income Fund buyer in Q3 2013 was Fir Tree Capital Management, an estimated $6.59M added.
  • The largest Nuveen Municipal Credit Income Fund seller in Q3 2013 was Newgate Capital Management, an estimated $736K sold.

Based on aggregated 13F filings for Q3 2013.