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Invesco Value Municipal Income Trust
IIM

77 hedge funds and large institutions have $90.9M invested in Invesco Value Municipal Income Trust in 2017 Q3 according to their latest regulatory filings, with 9 funds opening new positions, 33 increasing their positions, 13 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

154% more repeat investments, than reductions

Existing positions increased: 33 | Existing positions reduced: 13

80% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 5

39% more capital invested

Capital invested by funds: $65.5M → $90.9M (+$25.4M)

3.73% more ownership

Funds ownership: 9.2% → 12.93% (+3.7%)

3% more funds holding

Funds holding: 75 → 77 (+2)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

Holders
77
Holders Change
+2
Holders Change %
+2.67%
% of All Funds
1.92%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
9
Increased
33
Reduced
13
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
KIM
Karpus Investment Management
New York
+$14.7M
2
PPA
Parametric Portfolio Associates
Washington
+$6.09M
3
LCM
Laurion Capital Management
New York
+$4.89M
4
Millennium Management
Millennium Management
New York
+$1.09M
5
LCM
Landscape Capital Management
New Jersey
+$977K

Top Sellers

1
Morgan Stanley
Morgan Stanley
New York
-$2.04M
2
HighTower Advisors
HighTower Advisors
Illinois
-$894K
3
AIA
Avalon Investment & Advisory
Texas
-$552K
4
Bank of America
Bank of America
North Carolina
-$440K
5
LPL Financial
LPL Financial
California
-$427K
Name Holding Trade Value Shares
Change 		Change in
Stake
KIM
1
Karpus Investment Management
New York
$15.6M +$14.7M +964,377 +1,181%
PPA
2
Parametric Portfolio Associates
Washington
$10M +$6.09M +400,681 +148%
RCM
3
Robinson Capital Management
Michigan
$7.31M +$228K +14,977 +3%
Morgan Stanley
4
Morgan Stanley
New York
$5.43M -$2.04M -134,350 -27%
LCM
5
Laurion Capital Management
New York
$4.81M +$4.89M +321,487 New
Wells Fargo
6
Wells Fargo
California
$3.88M +$133K +8,725 +3%
GC
7
Guggenheim Capital
Illinois
$3.71M +$508K +33,399 +16%
CRC
8
Curi RMB Capital
Illinois
$2.12M +$124K +8,189 +6%
VanEck Associates
9
VanEck Associates
New York
$2.07M +$138K +9,055 +7%
LCM
10
Landscape Capital Management
New Jersey
$1.89M +$977K +64,281 +104%
DLG
11
Daniel L. Goodwin
$1.85M – – –
Fiera Capital (Canada)
12
Fiera Capital (Canada)
Quebec, Canada
$1.81M +$219K +14,407 +13%
RJFSA
13
Raymond James Financial Services Advisors
Florida
$1.81M +$274K +18,051 +18%
Bank of America
14
Bank of America
North Carolina
$1.73M -$440K -28,934 -20%
Bessemer Group
15
Bessemer Group
New Jersey
$1.5M – – –
Geode Capital Management
16
Geode Capital Management
Massachusetts
$1.5M +$53.1K +3,495 +4%
CIA
17
Capital Investment Advisors
Georgia
$1.49M +$64.5K +4,245 +4%
DA
18
Doliver Advisors
Texas
$1.27M +$652K +42,875 +103%
BTS
19
BB&T Securities
Virginia
$1.13M +$1.9K +125 +0.2%
UBS Group
20
UBS Group
Switzerland
$1.13M +$27.8K +1,828 +2%
Millennium Management
21
Millennium Management
New York
$1.07M +$1.09M +71,807 New
SPIA
22
Steward Partners Investment Advisory
New York
$959K +$37.6K +2,473 +4%
Invesco
23
Invesco
Georgia
$905K -$15.6K -1,027 -2%
Cambridge Investment Research Advisors
24
Cambridge Investment Research Advisors
Iowa
$895K -$13.6K -894 -1%
Royal Bank of Canada
25
Royal Bank of Canada
Ontario, Canada
$840K +$8.21K +540 +1%
1
2 3 4

IIM Hedge Fund Activity: Q3 2017 in Review

77 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Invesco Value Municipal Income Trust (IIM) for Q3 2017, worth a combined $90.9M — up 39% from $65.5M a quarter earlier.

Buyers outnumbered sellers: 9 funds opened new IIM positions and 5 closed out — a net gain of 4 holders — while 33 added to existing stakes and 13 trimmed.

The largest buyer was Karpus Investment Management, adding an estimated $14.7M. The largest seller was Morgan Stanley, cutting an estimated $2.04M.

  • 77 institutional investors held Invesco Value Municipal Income Trust (IIM) as of Q3 2017, up from 75 in Q2 2017.
  • Funds reported $90.9M of Invesco Value Municipal Income Trust stock for Q3 2017, up 39% quarter-over-quarter.
  • 9 funds opened new Invesco Value Municipal Income Trust positions in Q3 2017 and 5 closed out, a net change of +4 holders.
  • The largest Invesco Value Municipal Income Trust buyer in Q3 2017 was Karpus Investment Management, an estimated $14.7M added.
  • The largest Invesco Value Municipal Income Trust seller in Q3 2017 was Morgan Stanley, an estimated $2.04M sold.

Based on aggregated 13F filings for Q3 2017.