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.
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)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$11.2M |
| 2 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$1.99M |
| 3 |
Morgan Stanley
New York
|
+$1.63M |
| 4 |
LCM
Landscape Capital Management
Englewood,
New Jersey
|
+$1.59M |
| 5 |
DFG
Delphi Financial Group
Wilmington,
Delaware
|
+$1.51M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$25.8M |
| 2 |
Fiera Capital (Canada)
Montreal,
Quebec, Canada
|
-$6.08M |
| 3 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
-$2.53M |
| 4 |
Bessemer Group
Woodbridge,
New Jersey
|
-$1.38M |
| 5 |
DWM
Dakota Wealth Management
Palm Beach Gardens,
Florida
|
-$978K |
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.