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Invesco Value Municipal Income Trust
IIM

77 hedge funds and large institutions have $90.9M invested in Invesco Value Municipal Income Trust in 2017 Q3 according to their latest regulatory filings, with 9 funds opening new positions, 33 increasing their positions, 13 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

154% more repeat investments, than reductions

Existing positions increased: 33 | Existing positions reduced: 13

80% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 5

39% more capital invested

Capital invested by funds: $65.5M → $90.9M (+$25.4M)

3.73% more ownership

Funds ownership: 9.2% → 12.93% (+3.7%)

3% more funds holding

Funds holding: 75 → 77 (+2)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

Holders
77
Holders Change
+2
Holders Change %
+2.67%
% of All Funds
1.92%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
9
Increased
33
Reduced
13
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$14.7M
2
PPA
Parametric Portfolio Associates
Washington
+$6.09M
3
LCM
Laurion Capital Management
New York
+$4.89M
4
Millennium Management
Millennium Management
New York
+$1.09M
5
LCM
Landscape Capital Management
New Jersey
+$977K

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$2.04M
2
HighTower Advisors
HighTower Advisors
Illinois
-$894K
3
AIA
Avalon Investment & Advisory
Texas
-$552K
4
Bank of America
Bank of America
North Carolina
-$440K
5
LPL Financial
LPL Financial
California
-$427K
Name Holding Trade Value Shares
Change 		Change in
Stake
Commonwealth Equity Services
26
Commonwealth Equity Services
Massachusetts
$717K -$37.3K -2,455 -5%
FFA
27
First Foundation Advisors
California
$679K +$210K +13,795 +44%
PFS
28
Prospera Financial Services
Texas
$657K -$1.52K -100 -0.2%
PNC Financial Services Group
29
PNC Financial Services Group
Pennsylvania
$624K +$41.9K +2,754 +7%
RJA
30
Raymond James & Associates
Florida
$612K +$1.57K +103 +0.3%
Northwestern Mutual Wealth Management
31
Northwestern Mutual Wealth Management
Wisconsin
$584K +$28.6K +1,880 +5%
Baird Financial Group
32
Baird Financial Group
Wisconsin
$582K +$37.8K +2,487 +7%
CCWA
33
CLA (CliftonLarsonAllen) Wealth Advisors
Minnesota
$571K – – –
LPL Financial
34
LPL Financial
California
$551K -$427K -28,117 -43%
CA
35
Cetera Advisors
Colorado
$533K +$47K +3,092 +9%
MRCM
36
M&R Capital Management
New Jersey
$521K – – –
SG Americas Securities
37
SG Americas Securities
New York
$507K +$515K +33,893 New
AA
38
AQR Arbitrage
Connecticut
$454K – – –
SCA
39
STALEY CAPITAL ADVISERS
Pennsylvania
$449K – – –
Citadel Advisors
40
Citadel Advisors
Florida
$408K +$415K +27,293 New
LTFS
41
Ladenburg Thalmann Financial Services
Florida
$396K -$217K -14,284 -35%
GWM
42
Geneos Wealth Management
Colorado
$375K +$76K +5,000 +25%
CAN
43
Cetera Advisor Networks
California
$342K +$395 +26 +0.1%
SPC
44
Sigma Planning Corp
Michigan
$323K -$147K -9,678 -31%
FHA
45
Flagship Harbor Advisors
Massachusetts
$316K – – –
Ameriprise
46
Ameriprise
Minnesota
$302K -$4.56K -300 -1%
Koshinski Asset Management
47
Koshinski Asset Management
Illinois
$283K +$31K +2,042 +12%
WMG
48
WESCAP Management Group
California
$279K – – –
SWA
49
SFMG Wealth Advisors
Texas
$253K – – –
US Bancorp
50
US Bancorp
Minnesota
$244K +$8.04K +529 +3%
1
2
3 4

IIM Hedge Fund Activity: Q3 2017 in Review

77 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Invesco Value Municipal Income Trust (IIM) for Q3 2017, worth a combined $90.9M — up 39% from $65.5M a quarter earlier.

Buyers outnumbered sellers: 9 funds opened new IIM positions and 5 closed out — a net gain of 4 holders — while 33 added to existing stakes and 13 trimmed.

The largest buyer was Karpus Investment Management, adding an estimated $14.7M. The largest seller was Morgan Stanley, cutting an estimated $2.04M.

  • 77 institutional investors held Invesco Value Municipal Income Trust (IIM) as of Q3 2017, up from 75 in Q2 2017.
  • Funds reported $90.9M of Invesco Value Municipal Income Trust stock for Q3 2017, up 39% quarter-over-quarter.
  • 9 funds opened new Invesco Value Municipal Income Trust positions in Q3 2017 and 5 closed out, a net change of +4 holders.
  • The largest Invesco Value Municipal Income Trust buyer in Q3 2017 was Karpus Investment Management, an estimated $14.7M added.
  • The largest Invesco Value Municipal Income Trust seller in Q3 2017 was Morgan Stanley, an estimated $2.04M sold.

Based on aggregated 13F filings for Q3 2017.