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SBI

Western Asset Intermediate Muni Fund
SBI

51 hedge funds and large institutions have $31.7M invested in Western Asset Intermediate Muni Fund in 2018 Q4 according to their latest regulatory filings, with 5 funds opening new positions, 16 increasing their positions, 19 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

32% more capital invested

Capital invested by funds: $23.9M → $31.7M (+$7.71M)

6.81% more ownership

Funds ownership: 20.12% → 26.93% (+6.8%)

6% less funds holding

Funds holding: 54 → 51 (-3)

16% less repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 19

38% less first-time investments, than exits

New positions opened: 5 | Existing positions closed: 8

Holders
51
Holders Change
-3
Holders Change %
-5.56%
% of All Funds
1.14%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
5
Increased
16
Reduced
19
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
1CP
1607 Capital Partners
Virginia
+$3.35M
2
Wells Fargo
Wells Fargo
California
+$3.31M
3
FIMG
Financial & Investment Management Group
Michigan
+$2.95M
4
RCM
Rivernorth Capital Management
Florida
+$895K
5
Morgan Stanley
Morgan Stanley
New York
+$477K

Top Sellers

Rank Fund Capital Flow
1
AA
Ancora Advisors
Ohio
-$746K
2
RCM
Robinson Capital Management
Michigan
-$668K
3
CRC
Curi RMB Capital
Illinois
-$543K
4
RJA
Raymond James & Associates
Florida
-$248K
5
WTC
WhitTier Trust Company
Nevada
-$198K
Name Holding Trade Value Shares
Change 		Change in
Stake
RJFSA
26
Raymond James Financial Services Advisors
Florida
$232K -$173K -20,783 -43%
Envestnet Asset Management
27
Envestnet Asset Management
Illinois
$230K +$8.43K +1,013 +4%
PMG
28
ProVise Management Group
Florida
$229K -$19.1K -2,300 -8%
HK
29
Horizon Kinetics
New York
$217K -$8.27K -994 -4%
TIM
30
Tortoise Investment Management
New York
$206K +$33.3K +4,000 +19%
Susquehanna International Group
31
Susquehanna International Group
Pennsylvania
$188K -$155K -18,674 -45%
Baird Financial Group
32
Baird Financial Group
Wisconsin
$142K -$21.3K -2,556 -13%
Stifel Financial
33
Stifel Financial
Missouri
$128K +$11.8K +1,422 +10%
BHWM
34
Bar Harbor Wealth Management
New Hampshire
$126K – – –
BFEC
35
Benjamin F. Edwards & Company
Missouri
$114K +$250 +30 +0.2%
SC
36
Stratford Consulting
Texas
$114K +$1.56K +188 +1%
6M
37
6 Meridian
Kansas
$104K -$58.1K -6,985 -36%
Janney Montgomery Scott
38
Janney Montgomery Scott
Pennsylvania
$92K – – –
Cambridge Investment Research Advisors
39
Cambridge Investment Research Advisors
Iowa
$92K +$91.9K +11,044 New
PNC Financial Services Group
40
PNC Financial Services Group
Pennsylvania
$84K – – –
WAP
41
Wealthcare Advisory Partners
Pennsylvania
$58K +$12.5K +1,500 +27%
AG
42
Advisor Group
Arizona
$54K – – –
US Bancorp
43
US Bancorp
Minnesota
$49K – – –
WF
44
WealthTrust Fairport
Ohio
$30K – – –
QCIG
45
Quad-Cities Investment Group
Iowa
$26K +$100 +12 +0.4%
TRCT
46
Tower Research Capital (TRC)
New York
$23K +$23.2K +2,783 New
MFT
47
Moisand Fitzgerald Tamayo
Florida
$22K – – –
AIM
48
Anchor Investment Management
South Carolina
$16.7K – – –
Fifth Third Bancorp
49
Fifth Third Bancorp
Ohio
$3K +$2.78K +334 New
GWM
50
Geneos Wealth Management
Colorado
$2K – – –
1
2
3

SBI Hedge Fund Activity: Q4 2018 in Review

51 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in Western Asset Intermediate Muni Fund (SBI) for Q4 2018, worth a combined $31.7M — up 32% from $23.9M a quarter earlier.

Sellers outnumbered buyers: 8 funds closed out of SBI and 5 opened new positions — a net loss of 3 holders — while 19 trimmed existing stakes and 16 added.

The largest buyer was 1607 Capital Partners, adding an estimated $3.35M. The largest seller was Ancora Advisors, exiting entirely with an estimated $746K sold.

  • 51 institutional investors held Western Asset Intermediate Muni Fund (SBI) as of Q4 2018, down from 54 in Q3 2018.
  • Funds reported $31.7M of Western Asset Intermediate Muni Fund stock for Q4 2018, up 32% quarter-over-quarter.
  • 5 funds opened new Western Asset Intermediate Muni Fund positions in Q4 2018 and 8 closed out, a net change of -3 holders.
  • The largest Western Asset Intermediate Muni Fund buyer in Q4 2018 was 1607 Capital Partners, an estimated $3.35M added.
  • The largest Western Asset Intermediate Muni Fund seller in Q4 2018 was Ancora Advisors, an estimated $746K sold.

Based on aggregated 13F filings for Q4 2018.