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Invesco Value Municipal Income Trust
IIM

67 hedge funds and large institutions have $44.4M invested in Invesco Value Municipal Income Trust in 2013 Q4 according to their latest regulatory filings, with 23 funds opening new positions, 15 increasing their positions, 20 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

64% more first-time investments, than exits

New positions opened: 23 | Existing positions closed: 14

16% more funds holding

Funds holding: 58 → 67 (+9)

0.97% less ownership

Funds ownership: 6.92% → 5.95% (-0.97%)

16% less capital invested

Capital invested by funds: $52.6M → $44.4M (-$8.17M)

25% less repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 20

Holders
67
Holders Change
+9
Holders Change %
+15.52%
% of All Funds
1.94%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
23
Increased
15
Reduced
20
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
VKH
Virtu KCG Holdings
New York
+$1.12M
2
GCM
Gruss Capital Management
New York
+$676K
3
SG Americas Securities
SG Americas Securities
New York
+$665K
4
OFG
OTA Financial Group
New York
+$545K
5
SCA
Salient Capital Advisors
Texas
+$347K

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$4.26M
2
FTCM
Fir Tree Capital Management
New York
-$2.19M
3
KIM
Karpus Investment Management
New York
-$1.25M
4
GC
Guggenheim Capital
Illinois
-$1.23M
5
AAM
Advisors Asset Management
Colorado
-$861K
Name Holding Trade Value Shares
Change 		Change in
Stake
HCM
26
Hollencrest Capital Management
California
$376K +$384K +27,826 New
CCM
27
Coldstream Capital Management
Washington
$342K – – –
SCA
28
Salient Capital Advisors
Texas
$340K +$347K +25,150 New
RJFSA
29
Raymond James Financial Services Advisors
Florida
$319K +$326K +23,600 New
UCFA
30
United Capital Financial Advisors
Texas
$312K -$4.33K -314 -1%
WAM
31
Weiss Asset Management
Massachusetts
$295K +$301K +21,847 New
Commonwealth Equity Services
32
Commonwealth Equity Services
Massachusetts
$286K -$814K -58,980 -74%
CCWA
33
CLA (CliftonLarsonAllen) Wealth Advisors
Minnesota
$275K +$281K +20,343 New
WA
34
WFG Advisors
Texas
$256K -$63.5K -4,601 -20%
LCM
35
Landscape Capital Management
New Jersey
$242K +$247K +17,896 New
RJA
36
Raymond James & Associates
Florida
$236K +$242K +17,515 New
CCM
37
Catawba Capital Management
Virginia
$222K -$13.6K -987 -6%
Franklin Resources
38
Franklin Resources
California
$218K +$223K +16,173 New
LTFS
39
Ladenburg Thalmann Financial Services
Florida
$207K +$39.1K +2,834 +23%
AIG
40
American International Group
New York
$196K +$1.79K +130 +0.9%
CAPTRUST Financial Advisors
41
CAPTRUST Financial Advisors
North Carolina
$185K +$189K +13,724 New
B
42
Baird
Wisconsin
$178K -$4.03K -292 -2%
RCAG
43
Rehmann Capital Advisory Group
Michigan
$174K – – –
WS
44
Wedbush Securities
California
$171K – – –
LYV
45
Live Your Vision
Pennsylvania
$171K +$175K +12,681 New
VFS
46
VSR Financial Services
Kansas
$150K +$373 +27 +0.2%
Cambridge Investment Research Advisors
47
Cambridge Investment Research Advisors
Iowa
$138K +$141K +10,247 New
CA
48
Cetera Advisors
Colorado
$137K +$140K +10,146 New
Citigroup
49
Citigroup
New York
$135K +$115K +8,314 +496%
CAM
50
Columbia Asset Management
Michigan
$135K +$138K +10,000 New
1
2
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IIM Hedge Fund Activity: Q4 2013 in Review

67 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Invesco Value Municipal Income Trust (IIM) for Q4 2013, worth a combined $44.4M — down 16% from $52.6M a quarter earlier.

Buyers outnumbered sellers: 23 funds opened new IIM positions and 14 closed out — a net gain of 9 holders — while 15 added to existing stakes and 20 trimmed.

The largest buyer was Virtu KCG Holdings, opening a new position worth an estimated $1.12M. The largest seller was Morgan Stanley, cutting an estimated $4.26M.

  • 67 institutional investors held Invesco Value Municipal Income Trust (IIM) as of Q4 2013, up from 58 in Q3 2013.
  • Funds reported $44.4M of Invesco Value Municipal Income Trust stock for Q4 2013, down 16% quarter-over-quarter.
  • 23 funds opened new Invesco Value Municipal Income Trust positions in Q4 2013 and 14 closed out, a net change of +9 holders.
  • The largest Invesco Value Municipal Income Trust buyer in Q4 2013 was Virtu KCG Holdings, an estimated $1.12M added.
  • The largest Invesco Value Municipal Income Trust seller in Q4 2013 was Morgan Stanley, an estimated $4.26M sold.

Based on aggregated 13F filings for Q4 2013.