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Invesco BulletShares 2028 Municipal Bond ETF
BSMS

129 hedge funds and large institutions have $198M invested in Invesco BulletShares 2028 Municipal Bond ETF in 2026 Q1 according to their latest regulatory filings, with 18 funds opening new positions, 63 increasing their positions, 22 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

186% more repeat investments, than reductions

Existing positions increased: 63 | Existing positions reduced: 22

125% more first-time investments, than exits

New positions opened: 18 | Existing positions closed: 8

13% more capital invested

Capital invested by funds: $174M → $198M (+$23.2M)

8% more funds holding

Funds holding: 120 → 129 (+9)

0.39% more ownership

Funds ownership: 69.16% → 69.55% (+0.39%)

Holders
129
Holders Change
+9
Holders Change %
+7.5%
% of All Funds
1.59%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
18
Increased
63
Reduced
22
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Raymond James Financial
Raymond James Financial
Florida
+$3.17M
2
CCW
Coastline Complete Wealth
South Carolina
+$2.24M
3
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
+$2.09M
4
Jane Street
Jane Street
New York
+$1.75M
5
WJA
Willis Johnson & Associates
Texas
+$999K

Top Sellers

Rank Fund Capital Flow
1
KFI
Key Financial Inc
Pennsylvania
-$1.44M
2
KOC
Koss-Olinger Consulting
Florida
-$658K
3
SA
Sanctuary Advisors
Indiana
-$609K
4
KCM
Kathmere Capital Management
Pennsylvania
-$479K
5
MML Investors Services
MML Investors Services
Massachusetts
-$460K
Name Holding Trade Value Shares
Change 		Change in
Stake
APA
51
Astoria Portfolio Advisors
New York
$853K – – –
WB
52
Webster Bank
Connecticut
$797K +$200K +8,500 +33%
Cetera Investment Advisers
53
Cetera Investment Advisers
Illinois
$769K +$194K +8,248 +33%
PAG
54
Private Advisor Group
New Jersey
$725K +$518K +21,991 +245%
MWM
55
Marietta Wealth Management
Georgia
$720K +$7.07K +300 +1%
WAP
56
Wealthcare Advisory Partners
Pennsylvania
$691K – – –
VWWMG
57
Vermillion & White Wealth Management Group
Pennsylvania
$689K +$1.32K +56 +0.2%
HNB
58
Huntington National Bank
Ohio
$661K – – –
LC
59
Landaas & Company
Wisconsin
$655K +$101K +4,275 +18%
SPA
60
Sentinel Pension Advisors
Massachusetts
$655K +$20.3K +861 +3%
AA
61
Addison Advisors
Vermont
$644K +$27.7K +1,173 +4%
RSA
62
River Street Advisors
Illinois
$639K +$199K +8,430 +45%
AIM
63
Anchor Investment Management
South Carolina
$636K +$288K +12,200 +81%
MWM
64
Meridian Wealth Management
Kentucky
$628K – – –
HGA
65
Hobbs Group Advisors
South Carolina
$614K +$87.2K +3,699 +16%
HWM
66
Howard Wealth Management
Connecticut
$586K +$71.2K +3,020 +14%
HI
67
Harbour Investments
Wisconsin
$565K +$129K +5,474 +29%
SFA
68
Sequoia Financial Advisors
Ohio
$564K -$136K -5,790 -19%
APP
69
Avantax Planning Partners
Iowa
$549K +$53.7K +2,278 +11%
CIC
70
Carnegie Investment Counsel
Ohio
$540K +$544K +23,087 New
HIP
71
HUB Investment Partners
Texas
$535K +$539K +22,856 New
TF
72
TLWM Financial
Texas
$512K -$29.8K -1,262 -5%
DA
73
Dover Advisors
Virginia
$512K – – –
WA
74
WESPAC Advisors
California
$507K – – –
HWM
75
Horizons Wealth Management
North Carolina
$504K – – –
1 2
3
4 5

BSMS Hedge Fund Activity: Q1 2026 in Review

129 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in Invesco BulletShares 2028 Municipal Bond ETF (BSMS) for Q1 2026, worth a combined $198M — up 13% from $174M a quarter earlier.

Buyers outnumbered sellers: 18 funds opened new BSMS positions and 8 closed out — a net gain of 10 holders — while 63 added to existing stakes and 22 trimmed.

The largest buyer was Raymond James Financial, adding an estimated $3.17M. The largest seller was Key Financial Inc, cutting an estimated $1.44M.

  • 129 institutional investors held Invesco BulletShares 2028 Municipal Bond ETF (BSMS) as of Q1 2026, up from 120 in Q4 2025.
  • Funds reported $198M of Invesco BulletShares 2028 Municipal Bond ETF stock for Q1 2026, up 13% quarter-over-quarter.
  • 18 funds opened new Invesco BulletShares 2028 Municipal Bond ETF positions in Q1 2026 and 8 closed out, a net change of +10 holders.
  • The largest Invesco BulletShares 2028 Municipal Bond ETF buyer in Q1 2026 was Raymond James Financial, an estimated $3.17M added.
  • The largest Invesco BulletShares 2028 Municipal Bond ETF seller in Q1 2026 was Key Financial Inc, an estimated $1.44M sold.

Based on aggregated 13F filings for Q1 2026.