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Invesco Value Municipal Income Trust
IIM

58 hedge funds and large institutions have $52.6M invested in Invesco Value Municipal Income Trust in 2013 Q3 according to their latest regulatory filings, with 14 funds opening new positions, 19 increasing their positions, 18 reducing their positions, and 18 closing their positions.

New
Increased
Maintained
Reduced
Closed

23% more capital invested

Capital invested by funds: $42.7M → $52.6M (+$9.9M)

6% more repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 18

0.44% more ownership

Funds ownership: 6.48% → 6.92% (+0.44%)

6% less funds holding

Funds holding: 62 → 58 (-4)

22% less first-time investments, than exits

New positions opened: 14 | Existing positions closed: 18

Holders
58
Holders Change
-4
Holders Change %
-6.45%
% of All Funds
1.88%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
14
Increased
19
Reduced
18
Closed
18
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
FTCM
Fir Tree Capital Management
New York
+$2.18M
2
Goldman Sachs
Goldman Sachs
New York
+$2.13M
3
PPA
Parametric Portfolio Associates
Washington
+$1.4M
4
HighTower Advisors
HighTower Advisors
Illinois
+$541K
5
RCYC
Richard C. Young & Co
Rhode Island
+$488K

Top Sellers

Rank Fund Capital Flow
1
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
-$1.51M
2
Wells Fargo
Wells Fargo
California
-$1.32M
3
VAM
Visium Asset Management
New York
-$789K
4
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
-$617K
5
CA
Cornerstone Advisors
North Carolina
-$439K
Name Holding Trade Value Shares
Change 		Change in
Stake
Barclays
26
Barclays
United Kingdom
$425K +$252K +18,628 +132%
HK
27
Horizon Kinetics
New York
$390K -$47.2K -3,490 -11%
TCM
28
Texan Capital Management
Texas
$366K -$359K -26,520 -50%
Royal Bank of Canada
29
Royal Bank of Canada
Ontario, Canada
$366K +$257K +19,000 +239%
CCM
30
Coldstream Capital Management
Washington
$343K +$342K +25,318 New
WA
31
WFG Advisors
Texas
$319K -$17.3K -1,278 -5%
UCFA
32
United Capital Financial Advisors
Texas
$317K +$50K +3,700 +19%
CCM
33
Catawba Capital Management
Virginia
$236K – – –
AIG
34
American International Group
New York
$196K +$21.6K +1,600 +12%
B
35
Baird
Wisconsin
$183K +$183K +13,501 New
RCAG
36
Rehmann Capital Advisory Group
Michigan
$175K – – –
WS
37
Wedbush Securities
California
$172K -$13.5K -1,000 -7%
LTFS
38
Ladenburg Thalmann Financial Services
Florida
$170K -$5.41K -400 -3%
DA
39
Doliver Advisors
Texas
$162K -$383K -28,289 -70%
VFS
40
VSR Financial Services
Kansas
$150K +$338 +25 +0.2%
PP
41
Paloma Partners
Connecticut
$144K -$18.9K -1,395 -12%
Jane Street
42
Jane Street
New York
$141K +$140K +10,368 New
WAM
43
Wolverine Asset Management
Illinois
$140K +$140K +10,336 New
PFO
44
Pathstone Family Office
New Jersey
$138K +$136K +10,091 New
US Bancorp
45
US Bancorp
Minnesota
$130K – – –
EWM
46
Edge Wealth Management
New York
$71K +$2.71K +200 +4%
TCOV
47
Trust Company of Vermont
Vermont
$51K +$51.2K +3,786 New
MFS
48
MSI Financial Services
Massachusetts
$46K +$4.25K +314 +10%
HCM
49
Highlander Capital Management
New Jersey
$38.5K – – –
M&T Bank
50
M&T Bank
New York
$38K – – –
1
2
3 4

IIM Hedge Fund Activity: Q3 2013 in Review

58 of the 3,084 institutional investors tracked by Wall St. Rank reported a position in Invesco Value Municipal Income Trust (IIM) for Q3 2013, worth a combined $52.6M — up 23% from $42.7M a quarter earlier.

Sellers outnumbered buyers: 18 funds closed out of IIM and 14 opened new positions — a net loss of 4 holders — while 18 trimmed existing stakes and 19 added.

The largest buyer was Fir Tree Capital Management, opening a new position worth an estimated $2.18M. The largest seller was Commonwealth Equity Services, cutting an estimated $1.51M.

  • 58 institutional investors held Invesco Value Municipal Income Trust (IIM) as of Q3 2013, down from 62 in Q2 2013.
  • Funds reported $52.6M of Invesco Value Municipal Income Trust stock for Q3 2013, up 23% quarter-over-quarter.
  • 14 funds opened new Invesco Value Municipal Income Trust positions in Q3 2013 and 18 closed out, a net change of -4 holders.
  • The largest Invesco Value Municipal Income Trust buyer in Q3 2013 was Fir Tree Capital Management, an estimated $2.18M added.
  • The largest Invesco Value Municipal Income Trust seller in Q3 2013 was Commonwealth Equity Services, an estimated $1.51M sold.

Based on aggregated 13F filings for Q3 2013.