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Invesco BulletShares 2028 Municipal Bond ETF
BSMS

93 hedge funds and large institutions have $111M invested in Invesco BulletShares 2028 Municipal Bond ETF in 2025 Q1 according to their latest regulatory filings, with 11 funds opening new positions, 45 increasing their positions, 14 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

221% more repeat investments, than reductions

Existing positions increased: 45 | Existing positions reduced: 14

120% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 5

21% more capital invested

Capital invested by funds: $92.3M → $111M (+$19M)

7% more funds holding

Funds holding: 87 → 93 (+6)

1.86% more ownership

Funds ownership: 64.62% → 66.48% (+1.9%)

Holders
93
Holders Change
+6
Holders Change %
+6.9%
% of All Funds
1.25%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
11
Increased
45
Reduced
14
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
CVA
Central Valley Advisors
California
+$4.39M
2
Jane Street
Jane Street
New York
+$3.54M
3
Toronto Dominion Bank
Toronto Dominion Bank
Ontario, Canada
+$1.43M
4
LPL Financial
LPL Financial
California
+$1.23M
5
PWP
Precedent Wealth Partners
Texas
+$1.02M

Top Sellers

Rank Fund Capital Flow
1
CIM
Confluence Investment Management
Missouri
-$3.54M
2
SFG
Sterling Financial Group
California
-$653K
3
KCM
Kathmere Capital Management
Pennsylvania
-$526K
4
Wells Fargo
Wells Fargo
California
-$321K
5
SC
Savant Capital
Illinois
-$253K
Name Holding Trade Value Shares
Change 		Change in
Stake
HNB
51
Huntington National Bank
Ohio
$413K – – –
MW
52
Members Wealth
Pennsylvania
$398K – – –
BFA
53
Bill Few Associates
Pennsylvania
$397K – – –
SA
54
Sanctuary Advisors
Indiana
$389K +$13.8K +592 +4%
FA
55
FF Advisors
California
$386K – – –
KV
56
Kickstand Ventures
New York
$356K +$137K +5,849 +61%
CW
57
Cooksen Wealth
Texas
$353K – – –
Jones Financial Companies
58
Jones Financial Companies
Missouri
$350K +$216K +9,271 +158%
WWA
59
Wingate Wealth Advisors
Massachusetts
$349K +$152K +6,501 +76%
CAPTRUST Financial Advisors
60
CAPTRUST Financial Advisors
North Carolina
$347K +$108K +4,641 +45%
Cetera Investment Advisers
61
Cetera Investment Advisers
Illinois
$327K +$92.5K +3,962 +39%
Thrivent Financial for Lutherans
62
Thrivent Financial for Lutherans
Minnesota
$322K – – –
PFG
63
PAX Financial Group
Texas
$322K +$121K +5,198 +60%
SC
64
Savant Capital
Illinois
$303K -$253K -10,821 -45%
WA
65
WESPAC Advisors
California
$300K – – –
HWM
66
Howard Wealth Management
Connecticut
$295K – – –
FIM
67
Freedom Investment Management
Connecticut
$292K -$5.74K -246 -2%
MWA
68
Midland Wealth Advisors
Illinois
$290K – – –
SWM
69
Silverlake Wealth Management
Vermont
$275K – – –
BPA
70
Beacon Pointe Advisors
California
$273K +$15.1K +646 +6%
AFA
71
AA Financial Advisors
Ohio
$269K +$280 +12 +0.1%
CIC
72
Carnegie Investment Counsel
Ohio
$261K +$266K +11,410 New
PFS
73
Prospera Financial Services
Texas
$253K +$255K +10,917 New
Royal Bank of Canada
74
Royal Bank of Canada
Ontario, Canada
$247K +$14.6K +625 +6%
HT
75
Heritage Trust
Oklahoma
$239K +$241K +10,303 New
1 2
3
4

BSMS Hedge Fund Activity: Q1 2025 in Review

93 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in Invesco BulletShares 2028 Municipal Bond ETF (BSMS) for Q1 2025, worth a combined $111M — up 21% from $92.3M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new BSMS positions and 5 closed out — a net gain of 6 holders — while 45 added to existing stakes and 14 trimmed.

The largest buyer was Central Valley Advisors, opening a new position worth an estimated $4.39M. The largest seller was Confluence Investment Management, cutting an estimated $3.54M.

  • 93 institutional investors held Invesco BulletShares 2028 Municipal Bond ETF (BSMS) as of Q1 2025, up from 87 in Q4 2024.
  • Funds reported $111M of Invesco BulletShares 2028 Municipal Bond ETF stock for Q1 2025, up 21% quarter-over-quarter.
  • 11 funds opened new Invesco BulletShares 2028 Municipal Bond ETF positions in Q1 2025 and 5 closed out, a net change of +6 holders.
  • The largest Invesco BulletShares 2028 Municipal Bond ETF buyer in Q1 2025 was Central Valley Advisors, an estimated $4.39M added.
  • The largest Invesco BulletShares 2028 Municipal Bond ETF seller in Q1 2025 was Confluence Investment Management, an estimated $3.54M sold.

Based on aggregated 13F filings for Q1 2025.