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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
ACA
51
Ackerman Capital Advisors
Texas
$212K +$210K +14,176 New
Creative Planning
52
Creative Planning
Kansas
$188K -$34.7K -2,343 -16%
AG
53
Advisor Group
Arizona
$183K – – –
Cambridge Investment Research Advisors
54
Cambridge Investment Research Advisors
Iowa
$181K -$705K -47,644 -80%
EWM
55
Edge Wealth Management
New York
$172K -$9.54K -645 -5%
HCM
56
Hollencrest Capital Management
California
$171K – – –
KA
57
Kovack Advisors
Florida
$160K +$159K +10,761 New
IA
58
IFP Advisors
Florida
$156K -$72.5K -4,902 -32%
Ameriprise
59
Ameriprise
Minnesota
$154K -$146K -9,893 -49%
SSB
60
Sandy Spring Bank
Maryland
$150K -$11.1K -750 -7%
LYV
61
Live Your Vision
Pennsylvania
$146K – – –
MIM
62
Macroview Investment Management
Maryland
$124K -$4.44K -300 -3%
EWM
63
Endurance Wealth Management
Rhode Island
$111K – – –
SWM
64
SeaCrest Wealth Management
New York
$87K +$86.7K +5,859 New
ASN
65
Advisory Services Network
Georgia
$55K -$5.84K -395 -10%
MFT
66
Moisand Fitzgerald Tamayo
Florida
$54K – – –
HCM
67
Highlander Capital Management
New Jersey
$42K – – –
WT
68
Whittier Trust
California
$40K +$325 +22 +0.8%
PFBT
69
Parkside Financial Bank & Trust
Missouri
$36K – – –
RFC
70
Regions Financial Corp
Alabama
$27K +$27K +1,828 New
RFA
71
Reilly Financial Advisors
California
$16K – – –
MFW
72
Mosaic Family Wealth
Missouri
$15K +$14.8K +1,000 New
BWA
73
BDO Wealth Advisors
Florida
$8K – – –
Citigroup
74
Citigroup
New York
$7K – – –
HNB
75
Huntington National Bank
Ohio
$7K – – –
1 2
3
4

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.