According to recent 13F filings for the 09/30/2024 period, 16 hedge funds included iShares Trust – iShares National Muni Bond ETF (Symbol: MUB) in their portfolios. This alignment among fund managers suggests a noteworthy trend worth examining.
It is essential to note that 13F filings only reveal a portion of a fund’s investment strategy. Funds are required to disclose their long positions but are not obligated to report short positions. For instance, a fund could have a bearish outlook and hedge its bets by shorting some stocks while still maintaining a long position. This nuance can lead to misconceptions about a fund’s overall sentiment.
With that said, reviewing groups of 13F filings can uncover valuable insights, especially when comparing different holding periods. Let’s analyze the activity around MUB in the latest filings:
Between 06/30/2024 and 09/30/2024, six funds increased their MUB holdings, while four reduced their positions, and two funds made new investments.
In a broader context, we assessed the total MUB shares held by all funds—totaling 2,790—at the 09/30/2024 reporting date. Comparing this to the previous total from 06/30/2024, we found an increase of 5,699,419 shares, raising the total from 64,360,170 to 70,059,589 shares, which represents approximately an 8.86% growth. The top three funds holding MUB as of 09/30/2024 are as follows:
As we continue to monitor the latest 13F filings from hedge funds, we will highlight other intriguing stories that emerge from analyzing aggregate data. While individual filings can sometimes mislead due to the long-only nature of the information, the overall shifts in groups of funds provide more clarity and can reveal investment opportunities worthy of further exploration, such as the iShares Trust – iShares National Muni Bond ETF (Symbol: MUB).
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