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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
Morgan Stanley
1
Morgan Stanley
New York
$11M +$3.05M +121,273 +38%
LPL Financial
2
LPL Financial
California
$11M -$127K -5,052 -1%
Wells Fargo
3
Wells Fargo
California
$6.05M +$505K +20,071 +9%
AUB
4
Atlantic Union Bankshares
Virginia
$5.13M -$2.3M -91,443 -31%
Invesco
5
Invesco
Georgia
$4.32M +$2.43M +96,820 +129%
SWA
6
Stratos Wealth Advisors
Ohio
$4.13M +$684K +27,211 +20%
PWP
7
Precedent Wealth Partners
Texas
$3.76M +$330K +13,122 +10%
Raymond James Financial
8
Raymond James Financial
Florida
$3.47M +$635K +25,272 +22%
Bank of America
9
Bank of America
North Carolina
$3.41M +$300K +11,928 +10%
HBT
10
Hills Bank & Trust
Iowa
$2.76M +$1.94M +77,157 +235%
CIM
11
Confluence Investment Management
Missouri
$2.74M +$1.43M +56,826 +109%
EFP
12
Envision Financial Planning
Tennessee
$2.71M +$19.6K +779 +0.7%
Lido Advisors
13
Lido Advisors
California
$2.5M +$1.06M +42,300 +74%
KAS
14
Kestra Advisory Services
Texas
$2.46M +$366K +14,567 +17%
MA
15
MONECO Advisors
Connecticut
$2.36M +$1.78M +70,762 +304%
Jane Street
16
Jane Street
New York
$2.15M +$1.52M +60,592 +244%
Ameriprise
17
Ameriprise
Minnesota
$1.72M -$49.4K -1,966 -3%
Envestnet Asset Management
18
Envestnet Asset Management
Illinois
$1.62M +$828K +32,947 +105%
Northwestern Mutual Wealth Management
19
Northwestern Mutual Wealth Management
Wisconsin
$1.45M +$686K +27,301 +90%
HighTower Advisors
20
HighTower Advisors
Illinois
$1.37M +$543K +21,622 +66%
MML Investors Services
21
MML Investors Services
Massachusetts
$1.21M +$925K +36,816 +324%
CAM
22
Clark Asset Management
New Hampshire
$1.18M +$42.2K +1,677 +4%
Stifel Financial
23
Stifel Financial
Missouri
$1.07M +$148K +5,907 +16%
VA
24
VestGen Advisors
Illinois
$1.05M +$310K +12,344 +42%
EH
25
Equitable Holdings
New York
$1.04M -$16.5K -655 -2%
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.