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Invesco BulletShares 2032 Municipal Bond ETF
BSMW

67 hedge funds and large institutions have $101M invested in Invesco BulletShares 2032 Municipal Bond ETF in 2025 Q4 according to their latest regulatory filings, with 8 funds opening new positions, 39 increasing their positions, 12 reducing their positions, and 1 closing their positions.

New
Increased
Maintained
Reduced
Closed

700% more first-time investments, than exits

New positions opened: 8 | Existing positions closed: 1

225% more repeat investments, than reductions

Existing positions increased: 39 | Existing positions reduced: 12

23% more capital invested

Capital invested by funds: $81.7M → $101M (+$19.2M)

10% more funds holding

Funds holding: 61 → 67 (+6)

1.1% more ownership

Funds ownership: 67.79% → 68.89% (+1.1%)

Holders
67
Holders Change
+6
Holders Change %
+9.84%
% of All Funds
0.81%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
8
Increased
39
Reduced
12
Closed
1
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$3.05M
2
Invesco
Invesco
Georgia
+$2.43M
3
HBT
Hills Bank & Trust
Iowa
+$1.94M
4
MA
MONECO Advisors
Connecticut
+$1.78M
5
Jane Street
Jane Street
New York
+$1.52M

Top Sellers

Rank Fund Capital Flow
1
AUB
Atlantic Union Bankshares
Virginia
-$2.3M
2
FTUS
Flow Traders U.S.
New York
-$998K
3
EC
Elequin Capital
New York
-$931K
4
IWC
Integrated Wealth Concepts
Massachusetts
-$605K
5
BPA
Beacon Pointe Advisors
California
-$179K
Name Holding Trade Value Shares
Change 		Change in
Stake
FTUS
26
Flow Traders U.S.
New York
$1M -$998K -39,718 -50%
ADL
27
Asset Dedication LLC
California
$991K +$79.1K +3,146 +9%
KFI
28
Key Financial Inc
Pennsylvania
$972K +$90.5K +3,600 +10%
Commonwealth Equity Services
29
Commonwealth Equity Services
Massachusetts
$885K +$76.9K +3,061 +10%
EC
30
Elequin Capital
New York
$876K -$931K -37,022 -51%
UBS Group
31
UBS Group
Switzerland
$815K +$319K +12,678 +64%
STA
32
Summit Trail Advisors
New York
$802K +$803K +31,944 New
UCFA
33
United Capital Financial Advisors
Texas
$791K +$555K +22,064 +233%
Osaic Holdings
34
Osaic Holdings
Arizona
$783K +$131K +5,216 +20%
SFA
35
Sequoia Financial Advisors
Ohio
$779K +$780K +31,040 New
MWM
36
Marietta Wealth Management
Georgia
$711K +$711K +28,300 New
Jones Financial Companies
37
Jones Financial Companies
Missouri
$671K +$107K +4,256 +19%
JWCA
38
J.W. Cole Advisors
Florida
$658K +$1.56K +62 +0.2%
LPT
39
Legacy Private Trust
Wisconsin
$654K +$654K +26,035 New
IWC
40
Integrated Wealth Concepts
Massachusetts
$630K -$605K -24,058 -49%
AA
41
Addison Advisors
Vermont
$552K -$40.2K -1,600 -7%
KOC
42
Koss-Olinger Consulting
Florida
$549K – – –
HNB
43
Huntington National Bank
Ohio
$511K – – –
Cerity Partners
44
Cerity Partners
New York
$510K – – –
JCM
45
Jacobi Capital Management
Pennsylvania
$424K +$72.9K +2,900 +21%
CAPTRUST Financial Advisors
46
CAPTRUST Financial Advisors
North Carolina
$421K +$1.66K +66 +0.4%
IIM
47
Invariant Investment Management
Pennsylvania
$406K +$404K +16,060 New
IA
48
IFG Advisory
Georgia
$380K +$140K +5,571 +58%
SG
49
StoneX Group
New York
$330K -$145K -5,768 -31%
Royal Bank of Canada
50
Royal Bank of Canada
Ontario, Canada
$313K +$24.9K +991 +9%
1
2
3

BSMW Hedge Fund Activity: Q4 2025 in Review

67 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Invesco BulletShares 2032 Municipal Bond ETF (BSMW) for Q4 2025, worth a combined $101M — up 23% from $81.7M a quarter earlier.

Buyers outnumbered sellers: 8 funds opened new BSMW positions and 1 closed out — a net gain of 7 holders — while 39 added to existing stakes and 12 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $3.05M. The largest seller was Atlantic Union Bankshares, cutting an estimated $2.3M.

  • 67 institutional investors held Invesco BulletShares 2032 Municipal Bond ETF (BSMW) as of Q4 2025, up from 61 in Q3 2025.
  • Funds reported $101M of Invesco BulletShares 2032 Municipal Bond ETF stock for Q4 2025, up 23% quarter-over-quarter.
  • 8 funds opened new Invesco BulletShares 2032 Municipal Bond ETF positions in Q4 2025 and 1 closed out, a net change of +7 holders.
  • The largest Invesco BulletShares 2032 Municipal Bond ETF buyer in Q4 2025 was Morgan Stanley, an estimated $3.05M added.
  • The largest Invesco BulletShares 2032 Municipal Bond ETF seller in Q4 2025 was Atlantic Union Bankshares, an estimated $2.3M sold.

Based on aggregated 13F filings for Q4 2025.