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Invesco Value Municipal Income Trust
IIM

60 hedge funds and large institutions have $41M invested in Invesco Value Municipal Income Trust in 2014 Q4 according to their latest regulatory filings, with 9 funds opening new positions, 15 increasing their positions, 16 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

13% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 8

0% more funds holding

Funds holding: 60 → 60 (0)

6% less repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 16

1.24% less ownership

Funds ownership: 6.28% → 5.04% (-1.2%)

19% less capital invested

Capital invested by funds: $50.4M → $41M (-$9.41M)

Holders
60
Holders Change
–
Holders Change %
0%
% of All Funds
1.6%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
9
Increased
15
Reduced
16
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
AAM
Advisors Asset Management
Colorado
+$1.11M
2
CA
Cetera Advisors
Colorado
+$803K
3
LTFS
Ladenburg Thalmann Financial Services
Florida
+$743K
4
CM
Churchill Management
California
+$224K
5
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$156K

Top Sellers

Rank Fund Capital Flow
1
Cambridge Investment Research Advisors
Cambridge Investment Research Advisors
Iowa
-$9.22M
2
PPA
Parametric Portfolio Associates
Washington
-$741K
3
TCM
Tradewinds Capital Management
Washington
-$646K
4
AQR Capital Management
AQR Capital Management
Connecticut
-$458K
5
Bank of America
Bank of America
North Carolina
-$445K
Name Holding Trade Value Shares
Change 		Change in
Stake
ICAS
26
Investors Capital Advisory Services
Massachusetts
$421K -$85.2K -5,375 -17%
RJFSA
27
Raymond James Financial Services Advisors
Florida
$372K – – –
BCMIO
28
Beacon Capital Management Inc (Ohio)
Ohio
$372K +$69K +4,350 +24%
Northwestern Mutual Wealth Management
29
Northwestern Mutual Wealth Management
Wisconsin
$368K +$156K +9,838 +78%
Stifel Financial
30
Stifel Financial
Missouri
$294K -$14.3K -900 -5%
CIBC Private Wealth Group
31
CIBC Private Wealth Group
Georgia
$294K – – –
MFS
32
MSI Financial Services
Massachusetts
$293K -$5.74K -362 -2%
CCM
33
Coldstream Capital Management
Washington
$279K -$83.1K -5,243 -24%
CCM
34
Catawba Capital Management
Virginia
$269K – – –
CM
35
Churchill Management
California
$231K +$224K +14,100 New
Royal Bank of Canada
36
Royal Bank of Canada
Ontario, Canada
$226K -$160K -10,088 -42%
NCM
37
Northside Capital Management
Oregon
$176K +$170K +10,747 New
CAM
38
Columbia Asset Management
Michigan
$164K – – –
LYV
39
Live Your Vision
Pennsylvania
$164K – – –
US Bancorp
40
US Bancorp
Minnesota
$157K – – –
AIG
41
American International Group
New York
$117K – – –
Creative Planning
42
Creative Planning
Kansas
$95K +$21.2K +1,335 +30%
ASN
43
Advisory Services Network
Georgia
$92K -$175K -11,015 -67%
HCM
44
Highlander Capital Management
New Jersey
$47K – – –
MA
45
MUFG Americas
New York
$40K +$38.8K +2,448 New
SGC
46
South Georgia Capital
Illinois
$36K +$491 +31 +1%
FNBT
47
FineMark National Bank & Trust
Florida
$33K – – –
JFA
48
JNBA Financial Advisors
Minnesota
$33K – – –
Thrivent Financial for Lutherans
49
Thrivent Financial for Lutherans
Minnesota
$29K – – –
TRCT
50
Tower Research Capital (TRC)
New York
$28K +$27.1K +1,708 New
1
2
3

IIM Hedge Fund Activity: Q4 2014 in Review

60 of the 3,749 institutional investors tracked by Wall St. Rank reported a position in Invesco Value Municipal Income Trust (IIM) for Q4 2014, worth a combined $41M — down 19% from $50.4M a quarter earlier.

Buyers outnumbered sellers: 9 funds opened new IIM positions and 8 closed out — a net gain of 1 holder — while 15 added to existing stakes and 16 trimmed.

The largest buyer was Advisors Asset Management, adding an estimated $1.11M. The largest seller was Cambridge Investment Research Advisors, cutting an estimated $9.22M.

  • 60 institutional investors held Invesco Value Municipal Income Trust (IIM) as of Q4 2014, unchanged from Q3 2014.
  • Funds reported $41M of Invesco Value Municipal Income Trust stock for Q4 2014, down 19% quarter-over-quarter.
  • 9 funds opened new Invesco Value Municipal Income Trust positions in Q4 2014 and 8 closed out, a net change of +1 holder.
  • The largest Invesco Value Municipal Income Trust buyer in Q4 2014 was Advisors Asset Management, an estimated $1.11M added.
  • The largest Invesco Value Municipal Income Trust seller in Q4 2014 was Cambridge Investment Research Advisors, an estimated $9.22M sold.

Based on aggregated 13F filings for Q4 2014.