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Invesco Value Municipal Income Trust
IIM

88 hedge funds and large institutions have $99.1M invested in Invesco Value Municipal Income Trust in 2018 Q4 according to their latest regulatory filings, with 17 funds opening new positions, 22 increasing their positions, 25 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

21% more first-time investments, than exits

New positions opened: 17 | Existing positions closed: 14

1% more funds holding

Funds holding: 87 → 88 (+1)

2.61% less ownership

Funds ownership: 18.19% → 15.58% (-2.6%)

12% less repeat investments, than reductions

Existing positions increased: 22 | Existing positions reduced: 25

16% less capital invested

Capital invested by funds: $119M → $99.1M (-$19.4M)

Holders
88
Holders Change
+1
Holders Change %
+1.15%
% of All Funds
1.96%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
17
Increased
22
Reduced
25
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
+$11.2M
2
SIA
Sit Investment Associates
Minnesota
+$1.99M
3
Morgan Stanley
Morgan Stanley
New York
+$1.63M
4
LCM
Landscape Capital Management
New Jersey
+$1.59M
5
DFG
Delphi Financial Group
Delaware
+$1.51M

Top Sellers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
-$25.8M
2
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
-$6.08M
3
PPA
Parametric Portfolio Associates
Washington
-$2.53M
4
Bessemer Group
Bessemer Group
New Jersey
-$1.38M
5
DWM
Dakota Wealth Management
Florida
-$978K
Name Holding Trade Value Shares
Change 		Change in
Stake
NS
51
NewDay Solutions
New Hampshire
$196K +$195K +14,509 New
WMG
52
WESCAP Management Group
California
$186K -$65.4K -4,876 -26%
Janney Montgomery Scott
53
Janney Montgomery Scott
Pennsylvania
$186K – – –
AG
54
Advisor Group
Arizona
$163K -$40.5K -3,019 -20%
BS
55
Boenning & Scattergood
Pennsylvania
$154K -$78.4K -5,850 -34%
Susquehanna International Group
56
Susquehanna International Group
Pennsylvania
$147K +$146K +10,856 New
LYV
57
Live Your Vision
Pennsylvania
$141K – – –
CFSG
58
Community Financial Services Group
Vermont
$135K – – –
SSB
59
Sandy Spring Bank
Maryland
$126K – – –
IA
60
IFP Advisors
Florida
$121K -$25.7K -1,917 -18%
GWM
61
Geneos Wealth Management
Colorado
$109K -$141K -10,500 -56%
EWM
62
Endurance Wealth Management
Rhode Island
$101K – – –
SWM
63
SeaCrest Wealth Management
New York
$67K – – –
Carson Wealth (CWM LLC)
64
Carson Wealth (CWM LLC)
Nebraska
$64K +$57.5K +4,290 +1,021%
EWM
65
Edge Wealth Management
New York
$62K -$67K -5,000 -52%
MIM
66
Macroview Investment Management
Maryland
$59K -$4.83K -360 -8%
IAS
67
IMA Advisory Services
Colorado
$57K – – –
THWM
68
Taylor Hoffman Wealth Management
Virginia
$56K – – –
MFT
69
Moisand Fitzgerald Tamayo
Florida
$49K – – –
CA
70
Claro Advisors
Massachusetts
$42K +$40.2K +3,000 New
HCM
71
Highlander Capital Management
New Jersey
$38K – – –
WT
72
Whittier Trust
California
$36K – – –
RFC
73
Regions Financial Corp
Alabama
$31K +$6.7K +500 +27%
FHA
74
First Horizon Advisors
Tennessee
$29K +$23K +1,716 +429%
FHA
75
Flagship Harbor Advisors
Massachusetts
$28K +$12.1K +900 +76%
1 2
3
4 5

IIM Hedge Fund Activity: Q4 2018 in Review

88 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in Invesco Value Municipal Income Trust (IIM) for Q4 2018, worth a combined $99.1M — down 16% from $119M a quarter earlier.

Buyers outnumbered sellers: 17 funds opened new IIM positions and 14 closed out — a net gain of 3 holders — while 22 added to existing stakes and 25 trimmed.

The largest buyer was Rivernorth Capital Management, opening a new position worth an estimated $11.2M. The largest seller was Karpus Investment Management, cutting an estimated $25.8M.

  • 88 institutional investors held Invesco Value Municipal Income Trust (IIM) as of Q4 2018, up from 87 in Q3 2018.
  • Funds reported $99.1M of Invesco Value Municipal Income Trust stock for Q4 2018, down 16% quarter-over-quarter.
  • 17 funds opened new Invesco Value Municipal Income Trust positions in Q4 2018 and 14 closed out, a net change of +3 holders.
  • The largest Invesco Value Municipal Income Trust buyer in Q4 2018 was Rivernorth Capital Management, an estimated $11.2M added.
  • The largest Invesco Value Municipal Income Trust seller in Q4 2018 was Karpus Investment Management, an estimated $25.8M sold.

Based on aggregated 13F filings for Q4 2018.