ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT
165 hedge funds and large institutions have $512M invested in ProShares Trust UltraShort Lehman 20+ Year Treasury in 2014 Q1 according to their latest regulatory filings, with 29 funds opening new positions, 49 increasing their positions, 41 reducing their positions, and 32 closing their positions.
20% more repeat investments, than reductions
Existing positions increased: 49 | Existing positions reduced: 41
0.77% less ownership
Funds ownership: 12.8% → 12.03% (-0.77%)
9% less first-time investments, than exits
New positions opened: 29 | Existing positions closed: 32
2% less funds holding
Funds holding: 168 → 165 (-3)
12% less capital invested
Capital invested by funds: $582M → $512M (-$70M)
56% less call options, than puts
Call options by funds: $427M | Put options by funds: $968M
60% less funds holding in top 10
Funds holding in top 10: 15 → 6 (-9)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ACM
Aviance Capital Management
Sarasota,
Florida
|
+$37M |
| 2 |
LPL Financial
San Diego,
California
|
+$27.2M |
| 3 |
Jane Street
New York
|
+$23.5M |
| 4 |
SG Americas Securities
New York
|
+$15.3M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
+$10.6M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$51.6M |
| 2 |
FWP
FAS Wealth Partners
Leawood,
Kansas
|
-$24.5M |
| 3 |
AAP
Ardsley Advisory Partners
Stamford,
Connecticut
|
-$19.8M |
| 4 |
VF
Virtu Financial
New York
|
-$16.1M |
| 5 |
SCM
Stevens Capital Management
Radnor,
Pennsylvania
|
-$9.71M |
TBT Hedge Fund Activity: Q1 2014 in Review
165 of the 3,475 institutional investors tracked by Wall St. Rank reported a position in ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) for Q1 2014, worth a combined $512M — down 12% from $582M a quarter earlier.
Sellers outnumbered buyers: 32 funds closed out of TBT and 29 opened new positions — a net loss of 3 holders — while 41 trimmed existing stakes and 49 added.
The largest buyer was Aviance Capital Management, adding an estimated $37M. The largest seller was Susquehanna International Group, cutting an estimated $51.6M.
- 165 institutional investors held ProShares Trust UltraShort Lehman 20+ Year Treasury (TBT) as of Q1 2014, down from 168 in Q4 2013.
- Funds reported $512M of ProShares Trust UltraShort Lehman 20+ Year Treasury stock for Q1 2014, down 12% quarter-over-quarter.
- 29 funds opened new ProShares Trust UltraShort Lehman 20+ Year Treasury positions in Q1 2014 and 32 closed out, a net change of -3 holders.
- The largest ProShares Trust UltraShort Lehman 20+ Year Treasury buyer in Q1 2014 was Aviance Capital Management, an estimated $37M added.
- The largest ProShares Trust UltraShort Lehman 20+ Year Treasury seller in Q1 2014 was Susquehanna International Group, an estimated $51.6M sold.
Based on aggregated 13F filings for Q1 2014.