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Invesco Value Municipal Income Trust
IIM

63 hedge funds and large institutions have $39.6M invested in Invesco Value Municipal Income Trust in 2015 Q4 according to their latest regulatory filings, with 15 funds opening new positions, 18 increasing their positions, 14 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 10

29% more repeat investments, than reductions

Existing positions increased: 18 | Existing positions reduced: 14

22% more capital invested

Capital invested by funds: $32.6M → $39.6M (+$7.02M)

9% more funds holding

Funds holding: 58 → 63 (+5)

0.71% more ownership

Funds ownership: 4.49% → 5.2% (+0.71%)

Holders
63
Holders Change
+5
Holders Change %
+8.62%
% of All Funds
1.65%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
15
Increased
18
Reduced
14
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
LPL Financial
LPL Financial
California
+$3.13M
2
RJFSA
Raymond James Financial Services Advisors
Florida
+$922K
3
Wells Fargo
Wells Fargo
California
+$904K
4
VKH
Virtu KCG Holdings
New York
+$841K
5
BTS
BB&T Securities
Virginia
+$526K

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$965K
2
RJA
Raymond James & Associates
Florida
-$645K
3
MIM
Macroview Investment Management
Maryland
-$626K
4
Baird Financial Group
Baird Financial Group
Wisconsin
-$234K
5
GWM
Gupta Wealth Management
California
-$204K
Name Holding Trade Value Shares
Change 		Change in
Stake
HCM
51
Highlander Capital Management
New Jersey
$46K – – –
JFA
52
JNBA Financial Advisors
Minnesota
$33K – – –
EWM
53
Edge Wealth Management
New York
$33K +$6.33K +400 +25%
FNBT
54
FineMark National Bank & Trust
Florida
$33K +$7.91K +500 +33%
Thrivent Financial for Lutherans
55
Thrivent Financial for Lutherans
Minnesota
$29K – – –
DADC
56
D.A. Davidson & Co
Montana
$22K – – –
WA
57
WFG Advisors
Texas
$16K – – –
Fifth Third Bancorp
58
Fifth Third Bancorp
Ohio
$4K – – –
WEC
59
Winslow Evans & Crocker
Massachusetts
$3.84K +$3.76K +238 New
Northern Trust
60
Northern Trust
Illinois
$2K +$178K +11,263 New
Barclays
61
Barclays
United Kingdom
$1K +$1.47K +93 New
Baird Financial Group
62
Baird Financial Group
Wisconsin
– -$234K -15,179 Closed
GWM
63
Gupta Wealth Management
California
– -$204K -13,200 Closed
LCM
64
Landscape Capital Management
New Jersey
– -$178K -11,514 Closed
NCM
65
Northside Capital Management
Oregon
– -$166K -10,747 Closed
ASN
66
Advisory Services Network
Georgia
– -$39K -2,525 Closed
NFG
67
Next Financial Group
Texas
– -$15K -1,014 Closed
Citigroup
68
Citigroup
New York
– -$9.38K -593 Closed
RFA
69
Reilly Financial Advisors
California
– -$3K -200 Closed
DLHL
70
Donald L. Hagan LLC
Florida
– -$2K -100 Closed
BIM
71
BlackRock Investment Management
Delaware
– +$16 +1 New
TRCT
72
Tower Research Capital (TRC)
New York
– +$63 +4 New
1 2
3

IIM Hedge Fund Activity: Q4 2015 in Review

63 of the 3,812 institutional investors tracked by Wall St. Rank reported a position in Invesco Value Municipal Income Trust (IIM) for Q4 2015, worth a combined $39.6M — up 22% from $32.6M a quarter earlier.

Buyers outnumbered sellers: 15 funds opened new IIM positions and 10 closed out — a net gain of 5 holders — while 18 added to existing stakes and 14 trimmed.

The largest buyer was LPL Financial, adding an estimated $3.13M. The largest seller was Morgan Stanley, cutting an estimated $965K.

  • 63 institutional investors held Invesco Value Municipal Income Trust (IIM) as of Q4 2015, up from 58 in Q3 2015.
  • Funds reported $39.6M of Invesco Value Municipal Income Trust stock for Q4 2015, up 22% quarter-over-quarter.
  • 15 funds opened new Invesco Value Municipal Income Trust positions in Q4 2015 and 10 closed out, a net change of +5 holders.
  • The largest Invesco Value Municipal Income Trust buyer in Q4 2015 was LPL Financial, an estimated $3.13M added.
  • The largest Invesco Value Municipal Income Trust seller in Q4 2015 was Morgan Stanley, an estimated $965K sold.

Based on aggregated 13F filings for Q4 2015.