Invesco BulletShares 2028 Municipal Bond ETF
BSMS
120 hedge funds and large institutions have $174M invested in Invesco BulletShares 2028 Municipal Bond ETF in 2025 Q4 according to their latest regulatory filings, with 19 funds opening new positions, 62 increasing their positions, 16 reducing their positions, and 5 closing their positions.
288% more repeat investments, than reductions
Existing positions increased: 62 | Existing positions reduced: 16
280% more first-time investments, than exits
New positions opened: 19 | Existing positions closed: 5
12% more funds holding
Funds holding: 107 → 120 (+13)
11% more capital invested
Capital invested by funds: $157M → $174M (+$17.7M)
0.35% less ownership
Funds ownership: 69.52% → 69.16% (-0.35%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Invesco
Atlanta,
Georgia
|
+$3.33M |
| 2 |
AUB
Atlantic Union Bankshares
Glen Allen,
Virginia
|
+$3.22M |
| 3 |
HighTower Advisors
Chicago,
Illinois
|
+$1.38M |
| 4 |
LPL Financial
San Diego,
California
|
+$1.2M |
| 5 |
PFG
PAX Financial Group
San Antonio,
Texas
|
+$1.13M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CIM
Confluence Investment Management
St. Louis,
Missouri
|
-$2.97M |
| 2 |
EC
Elequin Capital
New York
|
-$2.32M |
| 3 |
Wells Fargo
San Francisco,
California
|
-$1.9M |
| 4 |
Jane Street
New York
|
-$1.58M |
| 5 |
Commonwealth Equity Services
Waltham,
Massachusetts
|
-$1.55M |
BSMS Hedge Fund Activity: Q4 2025 in Review
120 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Invesco BulletShares 2028 Municipal Bond ETF (BSMS) for Q4 2025, worth a combined $174M — up 11% from $157M a quarter earlier.
Buyers outnumbered sellers: 19 funds opened new BSMS positions and 5 closed out — a net gain of 14 holders — while 62 added to existing stakes and 16 trimmed.
The largest buyer was Invesco, adding an estimated $3.33M. The largest seller was Confluence Investment Management, exiting entirely with an estimated $2.97M sold.
- 120 institutional investors held Invesco BulletShares 2028 Municipal Bond ETF (BSMS) as of Q4 2025, up from 107 in Q3 2025.
- Funds reported $174M of Invesco BulletShares 2028 Municipal Bond ETF stock for Q4 2025, up 11% quarter-over-quarter.
- 19 funds opened new Invesco BulletShares 2028 Municipal Bond ETF positions in Q4 2025 and 5 closed out, a net change of +14 holders.
- The largest Invesco BulletShares 2028 Municipal Bond ETF buyer in Q4 2025 was Invesco, an estimated $3.33M added.
- The largest Invesco BulletShares 2028 Municipal Bond ETF seller in Q4 2025 was Confluence Investment Management, an estimated $2.97M sold.
Based on aggregated 13F filings for Q4 2025.