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PMO

Franklin Municipal Opportunities Trust
PMO

59 hedge funds and large institutions have $68.6M invested in Franklin Municipal Opportunities Trust in 2013 Q4 according to their latest regulatory filings, with 17 funds opening new positions, 14 increasing their positions, 14 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

89% more first-time investments, than exits

New positions opened: 17 | Existing positions closed: 9

20% more capital invested

Capital invested by funds: $57.3M → $68.6M (+$11.3M)

11% more funds holding

Funds holding: 53 → 59 (+6)

3.19% more ownership

Funds ownership: 12.24% → 15.42% (+3.2%)

0% more repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 14

Holders
59
Holders Change
+6
Holders Change %
+11.32%
% of All Funds
1.71%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
17
Increased
14
Reduced
14
Closed
9
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
+$2.71M
2
KIM
Karpus Investment Management
New York
+$2.17M
3
FIMG
Financial & Investment Management Group
Michigan
+$2.16M
4
GEM
Global Endowment Management
North Carolina
+$1.64M
5
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
+$1.53M

Top Sellers

Rank Fund Capital Flow
1
FTCM
Fir Tree Capital Management
New York
-$2.08M
2
Morgan Stanley
Morgan Stanley
New York
-$1.12M
3
1SB
1ST Source Bank
Indiana
-$758K
4
FAAS
First Allied Advisory Services
California
-$563K
5
GC
Guggenheim Capital
Illinois
-$425K
Name Holding Trade Value Shares
Change 		Change in
Stake
Ameriprise
51
Ameriprise
Minnesota
$13K -$2.16K -200 -14%
FHA
52
First Horizon Advisors
Tennessee
$12K – – –
FAM
53
Formidable Asset Management
Ohio
$10K – – –
SNT
54
Security National Trust
West Virginia
$9K – – –
FA
55
Financial Advantage
Maryland
$7K – – –
1IC
56
1919 Investment Counsel
Maryland
$4K – – –
TRCT
57
Tower Research Capital (TRC)
New York
$3K +$615 +57 +23%
OFG
58
OTA Financial Group
New York
$207 +$209K +19,354 New
FTCM
59
Fir Tree Capital Management
New York
– -$2.08M -190,518 Closed
NCM
60
Newgate Capital Management
Connecticut
– -$273K -24,941 Closed
DA
61
Doliver Advisors
Texas
– -$167K -15,273 Closed
PP
62
Paloma Partners
Connecticut
– -$142K -13,000 Closed
Jane Street
63
Jane Street
New York
– -$122K -11,137 Closed
AIG
64
American International Group
New York
– -$22.3K -2,037 Closed
WF
65
WealthTrust Fairport
Ohio
– -$21K -1,950 Closed
WA
66
WFG Advisors
Texas
– -$21K -1,900 Closed
CTC
67
Central Trust Company
Missouri
– -$5K -494 Closed
1 2
3

PMO Hedge Fund Activity: Q4 2013 in Review

59 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Franklin Municipal Opportunities Trust (PMO) for Q4 2013, worth a combined $68.6M — up 20% from $57.3M a quarter earlier.

Buyers outnumbered sellers: 17 funds opened new PMO positions and 9 closed out — a net gain of 8 holders — while 14 added to existing stakes and 14 trimmed.

The largest buyer was Rivernorth Capital Management, opening a new position worth an estimated $2.71M. The largest seller was Fir Tree Capital Management, exiting entirely with an estimated $2.08M sold.

  • 59 institutional investors held Franklin Municipal Opportunities Trust (PMO) as of Q4 2013, up from 53 in Q3 2013.
  • Funds reported $68.6M of Franklin Municipal Opportunities Trust stock for Q4 2013, up 20% quarter-over-quarter.
  • 17 funds opened new Franklin Municipal Opportunities Trust positions in Q4 2013 and 9 closed out, a net change of +8 holders.
  • The largest Franklin Municipal Opportunities Trust buyer in Q4 2013 was Rivernorth Capital Management, an estimated $2.71M added.
  • The largest Franklin Municipal Opportunities Trust seller in Q4 2013 was Fir Tree Capital Management, an estimated $2.08M sold.

Based on aggregated 13F filings for Q4 2013.