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Invesco Value Municipal Income Trust
IIM

67 hedge funds and large institutions have $44.4M invested in Invesco Value Municipal Income Trust in 2013 Q4 according to their latest regulatory filings, with 23 funds opening new positions, 15 increasing their positions, 20 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

64% more first-time investments, than exits

New positions opened: 23 | Existing positions closed: 14

16% more funds holding

Funds holding: 58 → 67 (+9)

0.97% less ownership

Funds ownership: 6.92% → 5.95% (-0.97%)

16% less capital invested

Capital invested by funds: $52.6M → $44.4M (-$8.17M)

25% less repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 20

Holders
67
Holders Change
+9
Holders Change %
+15.52%
% of All Funds
1.94%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
23
Increased
15
Reduced
20
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
VKH
Virtu KCG Holdings
New York
+$1.12M
2
GCM
Gruss Capital Management
New York
+$676K
3
SG Americas Securities
SG Americas Securities
New York
+$665K
4
OFG
OTA Financial Group
New York
+$545K
5
SCA
Salient Capital Advisors
Texas
+$347K

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$4.26M
2
FTCM
Fir Tree Capital Management
New York
-$2.19M
3
KIM
Karpus Investment Management
New York
-$1.25M
4
GC
Guggenheim Capital
Illinois
-$1.23M
5
AAM
Advisors Asset Management
Colorado
-$861K
Name Holding Trade Value Shares
Change 		Change in
Stake
US Bancorp
51
US Bancorp
Minnesota
$130K – – –
EWM
52
Edge Wealth Management
New York
$99K +$29K +2,100 +40%
Northwestern Mutual Wealth Management
53
Northwestern Mutual Wealth Management
Wisconsin
$90K -$603K -43,709 -87%
BCMIO
54
Beacon Capital Management Inc (Ohio)
Ohio
$50K +$51.1K +3,700 New
Creative Planning
55
Creative Planning
Kansas
$46K +$8.86K +642 +23%
MFS
56
MSI Financial Services
Massachusetts
$44K -$1.85K -134 -4%
HCM
57
Highlander Capital Management
New Jersey
$38.3K – – –
M&T Bank
58
M&T Bank
New York
$38K – – –
SGC
59
South Georgia Capital
Illinois
$35K +$35.3K +2,560 New
Bank of Montreal
60
Bank of Montreal
Ontario, Canada
$34K +$1.77K +128 +5%
First Manhattan
61
First Manhattan
New York
$31K – – –
FNBT
62
FineMark National Bank & Trust
Florida
$27K +$27.6K +2,000 New
PMFA
63
Plante Moran Financial Advisors
Michigan
$20K +$20.7K +1,500 New
TRCT
64
Tower Research Capital (TRC)
New York
$8K -$4.17K -302 -33%
WEC
65
Winslow Evans & Crocker
Massachusetts
$6K +$6.53K +473 New
OFG
66
OTA Financial Group
New York
$1.01K +$545K +39,479 +112%
MRCM
67
M&R Capital Management
New Jersey
$567 -$15.2K -1,100 -3%
FTCM
68
Fir Tree Capital Management
New York
– -$2.19M -161,478 Closed
KIM
69
Karpus Investment Management
New York
– -$1.25M -91,931 Closed
GEM
70
Global Endowment Management
North Carolina
– -$505K -37,270 Closed
RCYC
71
Richard C. Young & Co
Rhode Island
– -$490K -36,115 Closed
AQR Capital Management
72
AQR Capital Management
Connecticut
– -$430K -31,719 Closed
TCM
73
Texan Capital Management
Texas
– -$366K -27,025 Closed
DA
74
Doliver Advisors
Texas
– -$162K -11,981 Closed
PP
75
Paloma Partners
Connecticut
– -$144K -10,605 Closed
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IIM Hedge Fund Activity: Q4 2013 in Review

67 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Invesco Value Municipal Income Trust (IIM) for Q4 2013, worth a combined $44.4M — down 16% from $52.6M a quarter earlier.

Buyers outnumbered sellers: 23 funds opened new IIM positions and 14 closed out — a net gain of 9 holders — while 15 added to existing stakes and 20 trimmed.

The largest buyer was Virtu KCG Holdings, opening a new position worth an estimated $1.12M. The largest seller was Morgan Stanley, cutting an estimated $4.26M.

  • 67 institutional investors held Invesco Value Municipal Income Trust (IIM) as of Q4 2013, up from 58 in Q3 2013.
  • Funds reported $44.4M of Invesco Value Municipal Income Trust stock for Q4 2013, down 16% quarter-over-quarter.
  • 23 funds opened new Invesco Value Municipal Income Trust positions in Q4 2013 and 14 closed out, a net change of +9 holders.
  • The largest Invesco Value Municipal Income Trust buyer in Q4 2013 was Virtu KCG Holdings, an estimated $1.12M added.
  • The largest Invesco Value Municipal Income Trust seller in Q4 2013 was Morgan Stanley, an estimated $4.26M sold.

Based on aggregated 13F filings for Q4 2013.