Invesco BulletShares 2028 Municipal Bond ETF
BSMS
107 hedge funds and large institutions have $157M invested in Invesco BulletShares 2028 Municipal Bond ETF in 2025 Q3 according to their latest regulatory filings, with 18 funds opening new positions, 53 increasing their positions, 17 reducing their positions, and 5 closing their positions.
260% more first-time investments, than exits
New positions opened: 18 | Existing positions closed: 5
212% more repeat investments, than reductions
Existing positions increased: 53 | Existing positions reduced: 17
25% more capital invested
Capital invested by funds: $125M → $157M (+$31.5M)
14% more funds holding
Funds holding: 94 → 107 (+13)
5.61% more ownership
Funds ownership: 63.9% → 69.52% (+5.6%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Truist Financial
Charlotte,
North Carolina
|
+$6.87M |
| 2 |
SF
Summit Financial
Parsippany,
New Jersey
|
+$5.04M |
| 3 |
Morgan Stanley
New York
|
+$3.63M |
| 4 |
HBT
Hills Bank & Trust
North Liberty,
Iowa
|
+$2.84M |
| 5 |
EC
Elequin Capital
New York
|
+$2.32M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$3.25M |
| 2 |
CA
CGN Advisors
Manhattan,
Kansas
|
-$394K |
| 3 |
KCM
Kathmere Capital Management
Wayne,
Pennsylvania
|
-$327K |
| 4 |
SC
Savant Capital
Rockford,
Illinois
|
-$304K |
| 5 |
FIM
Freedom Investment Management
Hartford,
Connecticut
|
-$280K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
LFG
101
Larson Financial Group
St Louis,
Missouri
| $127K | – | – | – |
|
|
GWM
102
Geneos Wealth Management
Englewood,
Colorado
| $72.6K | +$72.3K | +3,100 | New |
|
|
PS
103
Principal Securities
Des Moines,
Iowa
| $69.6K | -$443 | -19 | -0.6% |
|
104
Carson Wealth (CWM LLC)
Omaha,
Nebraska
| $20K | – | – | – |
|
|
HIA
105
Harbor Investment Advisory
Lutherville,
Maryland
| $18.7K | – | – | – |
|
|
DCM
106
Davis Capital Management
Jacksonville,
Florida
| $16.6K | +$16.6K | +710 | New |
|
|
PTC
107
Private Trust Company
Cleveland,
Ohio
| $14.6K | -$36.7K | -1,575 | -72% |
|
|
CF
108
Collier Financial
Denver,
Colorado
| $13.5K | +$13.4K | +575 | New |
|
|
SC
109
Savant Capital
Rockford,
Illinois
| – | -$304K | -13,083 | Closed |
|
|
FIM
110
Freedom Investment Management
Hartford,
Connecticut
| – | -$280K | -12,047 | Closed |
|
|
HF
111
HRT Financial
New York
| – | -$214K | -9,236 | Closed |
|
|
WSFS
112
Wilmington Savings Fund Society
Wilmington,
Delaware
| – | -$98.5K | -4,241 | Closed |
|
|
AF
113
Advisornet Financial
Minnetonka,
Minnesota
| – | -$8.25K | -355 | Closed |
|
BSMS Hedge Fund Activity: Q3 2025 in Review
107 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Invesco BulletShares 2028 Municipal Bond ETF (BSMS) for Q3 2025, worth a combined $157M — up 25% from $125M a quarter earlier.
Buyers outnumbered sellers: 18 funds opened new BSMS positions and 5 closed out — a net gain of 13 holders — while 53 added to existing stakes and 17 trimmed.
The largest buyer was Truist Financial, opening a new position worth an estimated $6.87M. The largest seller was Jane Street, cutting an estimated $3.25M.
- 107 institutional investors held Invesco BulletShares 2028 Municipal Bond ETF (BSMS) as of Q3 2025, up from 94 in Q2 2025.
- Funds reported $157M of Invesco BulletShares 2028 Municipal Bond ETF stock for Q3 2025, up 25% quarter-over-quarter.
- 18 funds opened new Invesco BulletShares 2028 Municipal Bond ETF positions in Q3 2025 and 5 closed out, a net change of +13 holders.
- The largest Invesco BulletShares 2028 Municipal Bond ETF buyer in Q3 2025 was Truist Financial, an estimated $6.87M added.
- The largest Invesco BulletShares 2028 Municipal Bond ETF seller in Q3 2025 was Jane Street, an estimated $3.25M sold.
Based on aggregated 13F filings for Q3 2025.