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Invesco Value Municipal Income Trust
IIM

80 hedge funds and large institutions have $118M invested in Invesco Value Municipal Income Trust in 2017 Q4 according to their latest regulatory filings, with 14 funds opening new positions, 19 increasing their positions, 26 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

30% more capital invested

Capital invested by funds: $90.9M → $118M (+$27.3M)

27% more first-time investments, than exits

New positions opened: 14 | Existing positions closed: 11

3.95% more ownership

Funds ownership: 12.93% → 16.87% (+3.9%)

4% more funds holding

Funds holding: 77 → 80 (+3)

27% less repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 26

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
80
Holders Change
+3
Holders Change %
+3.9%
% of All Funds
1.81%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
14
Increased
19
Reduced
26
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$26.6M
2
Wells Fargo
Wells Fargo
California
+$5.95M
3
PPA
Parametric Portfolio Associates
Washington
+$3.11M
4
VCM
Vivaldi Capital Management
Illinois
+$1.5M
5
GC
Guggenheim Capital
Illinois
+$1.27M

Top Sellers

Rank Fund Capital Flow
1
LCM
Laurion Capital Management
New York
-$4.81M
2
RCM
Robinson Capital Management
Michigan
-$4.09M
3
CRC
Curi RMB Capital
Illinois
-$1.68M
4
Millennium Management
Millennium Management
New York
-$1.07M
5
Morgan Stanley
Morgan Stanley
New York
-$927K
Name Holding Trade Value Shares
Change 		Change in
Stake
Invesco
26
Invesco
Georgia
$722K -$178K -12,050 -20%
6M
27
6 Meridian
Kansas
$712K +$707K +47,777 New
WWMSC
28
Wagner Wealth Management (South Carolina)
South Carolina
$689K +$689K +46,589 New
PFS
29
Prospera Financial Services
Texas
$660K – – –
Baird Financial Group
30
Baird Financial Group
Wisconsin
$583K +$3.55K +240 +0.6%
CCWA
31
CLA (CliftonLarsonAllen) Wealth Advisors
Minnesota
$557K -$12.1K -820 -2%
Northwestern Mutual Wealth Management
32
Northwestern Mutual Wealth Management
Wisconsin
$523K -$58.2K -3,932 -10%
MRCM
33
M&R Capital Management
New Jersey
$519K – – –
CA
34
Cetera Advisors
Colorado
$464K -$68.4K -4,621 -13%
AA
35
AQR Arbitrage
Connecticut
$452K – – –
SCA
36
STALEY CAPITAL ADVISERS
Pennsylvania
$447K – – –
Squarepoint
37
Squarepoint
New York
$441K +$437K +29,568 New
RJA
38
Raymond James & Associates
Florida
$430K -$179K -12,081 -30%
CRC
39
Curi RMB Capital
Illinois
$424K -$1.68M -113,376 -80%
GWM
40
Geneos Wealth Management
Colorado
$374K – – –
LTFS
41
Ladenburg Thalmann Financial Services
Florida
$373K -$21.6K -1,463 -6%
SPC
42
Sigma Planning Corp
Michigan
$322K +$414 +28 +0.1%
WMG
43
WESCAP Management Group
California
$307K +$29.9K +2,021 +11%
FHA
44
Flagship Harbor Advisors
Massachusetts
$303K -$12.8K -863 -4%
US Bancorp
45
US Bancorp
Minnesota
$275K +$31.7K +2,146 +13%
CAN
46
Cetera Advisor Networks
California
$270K -$69K -4,663 -20%
SWA
47
SFMG Wealth Advisors
Texas
$252K – – –
BF
48
BOK Financial
Oklahoma
$246K +$244K +16,520 New
Stifel Financial
49
Stifel Financial
Missouri
$227K +$225K +15,222 New
YP
50
Yellowstone Partners
Idaho
$221K +$15.9K +1,075 +8%
1
2
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IIM Hedge Fund Activity: Q4 2017 in Review

80 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in Invesco Value Municipal Income Trust (IIM) for Q4 2017, worth a combined $118M — up 30% from $90.9M a quarter earlier.

Buyers outnumbered sellers: 14 funds opened new IIM positions and 11 closed out — a net gain of 3 holders — while 19 added to existing stakes and 26 trimmed.

The largest buyer was Karpus Investment Management, adding an estimated $26.6M. The largest seller was Laurion Capital Management, exiting entirely with an estimated $4.81M sold.

  • 80 institutional investors held Invesco Value Municipal Income Trust (IIM) as of Q4 2017, up from 77 in Q3 2017.
  • Funds reported $118M of Invesco Value Municipal Income Trust stock for Q4 2017, up 30% quarter-over-quarter.
  • 14 funds opened new Invesco Value Municipal Income Trust positions in Q4 2017 and 11 closed out, a net change of +3 holders.
  • The largest Invesco Value Municipal Income Trust buyer in Q4 2017 was Karpus Investment Management, an estimated $26.6M added.
  • The largest Invesco Value Municipal Income Trust seller in Q4 2017 was Laurion Capital Management, an estimated $4.81M sold.

Based on aggregated 13F filings for Q4 2017.