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Invesco Value Municipal Income Trust
IIM

60 hedge funds and large institutions have $50.4M invested in Invesco Value Municipal Income Trust in 2014 Q3 according to their latest regulatory filings, with 6 funds opening new positions, 19 increasing their positions, 17 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

20% more first-time investments, than exits

New positions opened: 6 | Existing positions closed: 5

12% more capital invested

Capital invested by funds: $45.1M → $50.4M (+$5.33M)

12% more repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 17

0.73% more ownership

Funds ownership: 5.55% → 6.28% (+0.73%)

0% more funds holding

Funds holding: 60 → 60 (0)

Holders
60
Holders Change
–
Holders Change %
0%
% of All Funds
1.74%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
6
Increased
19
Reduced
17
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Cambridge Investment Research Advisors
Cambridge Investment Research Advisors
Iowa
+$9.05M
2
CA
Cetera Advisors
Colorado
+$281K
3
LPL Financial
LPL Financial
California
+$181K
4
RJA
Raymond James & Associates
Florida
+$180K
5
Morgan Stanley
Morgan Stanley
New York
+$125K

Top Sellers

1
AAM
Advisors Asset Management
Colorado
-$2.14M
2
VKH
Virtu KCG Holdings
New York
-$884K
3
TC
TFS Capital
Pennsylvania
-$602K
4
PPA
Parametric Portfolio Associates
Washington
-$321K
5
GCM
Gruss Capital Management
New York
-$283K
Name Holding Trade Value Shares
Change 		Change in
Stake
Cambridge Investment Research Advisors
1
Cambridge Investment Research Advisors
Iowa
$9.59M +$9.05M +609,124 +2,684%
BTS
2
BB&T Securities
Virginia
$6.18M -$50.2K -3,382 -8%
Morgan Stanley
3
Morgan Stanley
New York
$3.75M +$125K +8,388 +4%
Goldman Sachs
4
Goldman Sachs
New York
$3.67M -$1.07K -72 -0%
Bank of America
5
Bank of America
North Carolina
$2.24M +$41.7K +2,809 +2%
AAM
6
Advisors Asset Management
Colorado
$2.09M -$2.14M -144,152 -51%
LPL Financial
7
LPL Financial
California
$2.07M +$181K +12,219 +10%
DLG
8
Daniel L. Goodwin
$1.94M – – –
MIM
9
Macroview Investment Management
Maryland
$1.8M +$35.1K +2,363 +2%
PPA
10
Parametric Portfolio Associates
Washington
$1.52M -$321K -21,583 -18%
U
11
UBS
Switzerland
$1.2M +$19.7K +1,327 +2%
Wells Fargo
12
Wells Fargo
California
$1.19M -$52.7K -3,548 -4%
PNC Financial Services Group
13
PNC Financial Services Group
Pennsylvania
$891K – – –
CCWA
14
CLA (CliftonLarsonAllen) Wealth Advisors
Minnesota
$734K +$86.6K +5,830 +14%
VanEck Associates
15
VanEck Associates
New York
$660K +$11.5K +777 +2%
TCM
16
Tradewinds Capital Management
Washington
$643K -$7.23K -487 -1%
HighTower Advisors
17
HighTower Advisors
Illinois
$633K +$25.2K +1,699 +4%
CIA
18
Capital Investment Advisors
Georgia
$628K – – –
Commonwealth Equity Services
19
Commonwealth Equity Services
Massachusetts
$626K +$30.9K +2,082 +5%
MRCM
20
M&R Capital Management
New Jersey
$594K – – –
CA
21
Cetera Advisors
Colorado
$484K +$281K +18,902 +145%
ICAS
22
Investors Capital Advisory Services
Massachusetts
$472K -$4.46K -300 -1%
AQR Capital Management
23
AQR Capital Management
Connecticut
$458K – – –
RJA
24
Raymond James & Associates
Florida
$440K +$180K +12,138 +72%
HCM
25
Hollencrest Capital Management
California
$422K – – –
1
2 3

IIM Hedge Fund Activity: Q3 2014 in Review

60 of the 3,446 institutional investors tracked by Wall St. Rank reported a position in Invesco Value Municipal Income Trust (IIM) for Q3 2014, worth a combined $50.4M — up 12% from $45.1M a quarter earlier.

Buyers outnumbered sellers: 6 funds opened new IIM positions and 5 closed out — a net gain of 1 holder — while 19 added to existing stakes and 17 trimmed.

The largest buyer was Cambridge Investment Research Advisors, adding an estimated $9.05M. The largest seller was Advisors Asset Management, cutting an estimated $2.14M.

  • 60 institutional investors held Invesco Value Municipal Income Trust (IIM) as of Q3 2014, unchanged from Q2 2014.
  • Funds reported $50.4M of Invesco Value Municipal Income Trust stock for Q3 2014, up 12% quarter-over-quarter.
  • 6 funds opened new Invesco Value Municipal Income Trust positions in Q3 2014 and 5 closed out, a net change of +1 holder.
  • The largest Invesco Value Municipal Income Trust buyer in Q3 2014 was Cambridge Investment Research Advisors, an estimated $9.05M added.
  • The largest Invesco Value Municipal Income Trust seller in Q3 2014 was Advisors Asset Management, an estimated $2.14M sold.

Based on aggregated 13F filings for Q3 2014.