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Invesco Value Municipal Income Trust
IIM

58 hedge funds and large institutions have $52.6M invested in Invesco Value Municipal Income Trust in 2013 Q3 according to their latest regulatory filings, with 14 funds opening new positions, 19 increasing their positions, 18 reducing their positions, and 18 closing their positions.

New
Increased
Maintained
Reduced
Closed

23% more capital invested

Capital invested by funds: $42.7M → $52.6M (+$9.9M)

6% more repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 18

0.44% more ownership

Funds ownership: 6.48% → 6.92% (+0.44%)

6% less funds holding

Funds holding: 62 → 58 (-4)

22% less first-time investments, than exits

New positions opened: 14 | Existing positions closed: 18

Holders
58
Holders Change
-4
Holders Change %
-6.45%
% of All Funds
1.88%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
14
Increased
19
Reduced
18
Closed
18
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
FTCM
Fir Tree Capital Management
New York
+$2.18M
2
Goldman Sachs
Goldman Sachs
New York
+$2.13M
3
PPA
Parametric Portfolio Associates
Washington
+$1.4M
4
HighTower Advisors
HighTower Advisors
Illinois
+$541K
5
RCYC
Richard C. Young & Co
Rhode Island
+$488K

Top Sellers

Rank Fund Capital Flow
1
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
-$1.51M
2
Wells Fargo
Wells Fargo
California
-$1.32M
3
VAM
Visium Asset Management
New York
-$789K
4
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
-$617K
5
CA
Cornerstone Advisors
North Carolina
-$439K
Name Holding Trade Value Shares
Change 		Change in
Stake
Creative Planning
51
Creative Planning
Kansas
$38K +$16.7K +1,235 +80%
First Manhattan
52
First Manhattan
New York
$32K – – –
Bank of Montreal
53
Bank of Montreal
Ontario, Canada
$32K +$32.1K +2,372 New
TJHA
54
Thomas J. Herzfeld Advisors
Florida
$27K – – –
Citigroup
55
Citigroup
New York
$23K +$22.7K +1,675 New
TRCT
56
Tower Research Capital (TRC)
New York
$12K -$8.3K -614 -41%
Ameriprise
57
Ameriprise
Minnesota
$9K +$11.4K +846 +169%
OFG
58
OTA Financial Group
New York
$479 +$115K +8,508 +32%
VAM
59
Visium Asset Management
New York
– -$789K -55,319 Closed
CA
60
Cornerstone Advisors
North Carolina
– -$439K -30,806 Closed
SIA
61
Sit Investment Associates
Minnesota
– -$438K -30,763 Closed
RJFSA
62
Raymond James Financial Services Advisors
Florida
– -$315K -22,086 Closed
Deutsche Bank
63
Deutsche Bank
Germany
– -$296K -20,781 Closed
SIM
64
Sadoff Investment Management
Wisconsin
– -$290K -20,335 Closed
Franklin Resources
65
Franklin Resources
California
– -$259K -18,180 Closed
PWPCM
66
Perella Weinberg Partners Capital Management
New York
– -$183K -12,867 Closed
N
67
Nuveen
North Carolina
– -$157K -11,009 Closed
FAAS
68
First Allied Advisory Services
California
– -$148K -10,357 Closed
NRS
69
Neville Rodie & Shaw
New York
– -$143K -10,000 Closed
CAPTRUST Financial Advisors
70
CAPTRUST Financial Advisors
North Carolina
– -$131K -9,224 Closed
FHB
71
First Hawaiian Bank
Hawaii
– -$50K -3,481 Closed
FANJ
72
Financial Architects (New Jersey)
New Jersey
– -$10K -686 Closed
M
73
MOTCO
Texas
– -$9K -663 Closed
HR
74
Howe & Rusling
New York
– -$7K -473 Closed
GI
75
Gradient Investments
Minnesota
– -$5K -367 Closed
1 2
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IIM Hedge Fund Activity: Q3 2013 in Review

58 of the 3,084 institutional investors tracked by Wall St. Rank reported a position in Invesco Value Municipal Income Trust (IIM) for Q3 2013, worth a combined $52.6M — up 23% from $42.7M a quarter earlier.

Sellers outnumbered buyers: 18 funds closed out of IIM and 14 opened new positions — a net loss of 4 holders — while 18 trimmed existing stakes and 19 added.

The largest buyer was Fir Tree Capital Management, opening a new position worth an estimated $2.18M. The largest seller was Commonwealth Equity Services, cutting an estimated $1.51M.

  • 58 institutional investors held Invesco Value Municipal Income Trust (IIM) as of Q3 2013, down from 62 in Q2 2013.
  • Funds reported $52.6M of Invesco Value Municipal Income Trust stock for Q3 2013, up 23% quarter-over-quarter.
  • 14 funds opened new Invesco Value Municipal Income Trust positions in Q3 2013 and 18 closed out, a net change of -4 holders.
  • The largest Invesco Value Municipal Income Trust buyer in Q3 2013 was Fir Tree Capital Management, an estimated $2.18M added.
  • The largest Invesco Value Municipal Income Trust seller in Q3 2013 was Commonwealth Equity Services, an estimated $1.51M sold.

Based on aggregated 13F filings for Q3 2013.