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Invesco Value Municipal Income Trust
IIM

61 hedge funds and large institutions have $44.8M invested in Invesco Value Municipal Income Trust in 2014 Q1 according to their latest regulatory filings, with 9 funds opening new positions, 16 increasing their positions, 17 reducing their positions, and 15 closing their positions.

New
Increased
Maintained
Reduced
Closed

1% more capital invested

Capital invested by funds: $44.4M → $44.8M (+$416K)

0.64% less ownership

Funds ownership: 5.95% → 5.32% (-0.64%)

6% less repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 17

9% less funds holding

Funds holding: 67 → 61 (-6)

40% less first-time investments, than exits

New positions opened: 9 | Existing positions closed: 15

Holders
61
Holders Change
-6
Holders Change %
-8.96%
% of All Funds
1.76%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
9
Increased
16
Reduced
17
Closed
15
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
MIM
Macroview Investment Management
Maryland
+$1.39M
2
PPA
Parametric Portfolio Associates
Washington
+$953K
3
AQR Capital Management
AQR Capital Management
Connecticut
+$684K
4
CCWA
CLA (CliftonLarsonAllen) Wealth Advisors
Minnesota
+$244K
5
Cambridge Investment Research Advisors
Cambridge Investment Research Advisors
Iowa
+$223K

Top Sellers

Rank Fund Capital Flow
1
TC
TFS Capital
Pennsylvania
-$1.53M
2
VKH
Virtu KCG Holdings
New York
-$1.1M
3
LPL Financial
LPL Financial
California
-$760K
4
Barclays
Barclays
United Kingdom
-$685K
5
SG Americas Securities
SG Americas Securities
New York
-$650K
Name Holding Trade Value Shares
Change 		Change in
Stake
HK
26
Horizon Kinetics
New York
$393K -$10.1K -712 -3%
Royal Bank of Canada
27
Royal Bank of Canada
Ontario, Canada
$389K -$28.2K -2,000 -7%
Cambridge Investment Research Advisors
28
Cambridge Investment Research Advisors
Iowa
$376K +$223K +15,830 +154%
CCM
29
Coldstream Capital Management
Washington
$339K -$24.8K -1,758 -7%
UCFA
30
United Capital Financial Advisors
Texas
$333K – – –
RJFSA
31
Raymond James Financial Services Advisors
Florida
$329K -$10.3K -730 -3%
B
32
Baird
Wisconsin
$322K +$129K +9,122 +69%
RJA
33
Raymond James & Associates
Florida
$302K +$48.9K +3,461 +20%
CIBC Private Wealth Group
34
CIBC Private Wealth Group
Georgia
$258K +$254K +17,960 New
CCM
35
Catawba Capital Management
Virginia
$236K – – –
BCMIO
36
Beacon Capital Management Inc (Ohio)
Ohio
$212K +$155K +11,000 +297%
AIG
37
American International Group
New York
$210K – – –
MFS
38
MSI Financial Services
Massachusetts
$200K +$150K +10,608 +325%
CA
39
Cetera Advisors
Colorado
$194K +$46.8K +3,314 +33%
RCAG
40
Rehmann Capital Advisory Group
Michigan
$186K – – –
LYV
41
Live Your Vision
Pennsylvania
$183K – – –
LTFS
42
Ladenburg Thalmann Financial Services
Florida
$160K -$59.7K -4,231 -28%
LCM
43
Landscape Capital Management
New Jersey
$146K -$109K -7,723 -43%
CAM
44
Columbia Asset Management
Michigan
$144K – – –
Stifel Financial
45
Stifel Financial
Missouri
$144K +$141K +10,000 New
US Bancorp
46
US Bancorp
Minnesota
$138K – – –
EWM
47
Edge Wealth Management
New York
$107K +$1.41K +100 +1%
Northwestern Mutual Wealth Management
48
Northwestern Mutual Wealth Management
Wisconsin
$88K -$7.91K -560 -8%
WAM
49
Wolverine Asset Management
Illinois
$87K +$85.4K +6,051 New
M&T Bank
50
M&T Bank
New York
$41K – – –
1
2
3 4

IIM Hedge Fund Activity: Q1 2014 in Review

61 of the 3,462 institutional investors tracked by Wall St. Rank reported a position in Invesco Value Municipal Income Trust (IIM) for Q1 2014, worth a combined $44.8M — up 0.94% from $44.4M a quarter earlier.

Sellers outnumbered buyers: 15 funds closed out of IIM and 9 opened new positions — a net loss of 6 holders — while 17 trimmed existing stakes and 16 added.

The largest buyer was Macroview Investment Management, opening a new position worth an estimated $1.39M. The largest seller was TFS Capital, exiting entirely with an estimated $1.53M sold.

  • 61 institutional investors held Invesco Value Municipal Income Trust (IIM) as of Q1 2014, down from 67 in Q4 2013.
  • Funds reported $44.8M of Invesco Value Municipal Income Trust stock for Q1 2014, up 0.94% quarter-over-quarter.
  • 9 funds opened new Invesco Value Municipal Income Trust positions in Q1 2014 and 15 closed out, a net change of -6 holders.
  • The largest Invesco Value Municipal Income Trust buyer in Q1 2014 was Macroview Investment Management, an estimated $1.39M added.
  • The largest Invesco Value Municipal Income Trust seller in Q1 2014 was TFS Capital, an estimated $1.53M sold.

Based on aggregated 13F filings for Q1 2014.