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Invesco Quality Municipal Securities
IQI

51 hedge funds and large institutions have $66.6M invested in Invesco Quality Municipal Securities in 2014 Q2 according to their latest regulatory filings, with 4 funds opening new positions, 15 increasing their positions, 14 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

7% more repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 14

2% more capital invested

Capital invested by funds: $65.6M → $66.6M (+$1.06M)

0.1% less ownership

Funds ownership: 10.36% → 10.26% (-0.1%)

4% less funds holding

Funds holding: 53 → 51 (-2)

33% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 6

Holders
51
Holders Change
-2
Holders Change %
-3.77%
% of All Funds
1.47%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
4
Increased
15
Reduced
14
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$1.25M
2
WAM
Wolverine Asset Management
Illinois
+$727K
3
PPA
Parametric Portfolio Associates
Washington
+$688K
4
Deutsche Bank
Deutsche Bank
Germany
+$437K
5
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
+$391K

Top Sellers

Rank Fund Capital Flow
1
GCM
Gruss Capital Management
New York
-$1.15M
2
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$793K
3
MPEM
Marathon Partners Equity Management
New York
-$744K
4
TC
TFS Capital
Pennsylvania
-$643K
5
Morgan Stanley
Morgan Stanley
New York
-$462K
Name Holding Trade Value Shares
Change 		Change in
Stake
HK
26
Horizon Kinetics
New York
$519K +$496 +41 +0.1%
N
27
Nuveen
North Carolina
$518K – – –
First Trust Advisors
28
First Trust Advisors
Illinois
$490K +$48.8K +4,030 +11%
MRCM
29
M&R Capital Management
New Jersey
$398K – – –
DA
30
Doliver Advisors
Texas
$391K +$386K +31,845 New
WFI
31
West Family Investments
California
$377K – – –
Cambridge Investment Research Advisors
32
Cambridge Investment Research Advisors
Iowa
$335K – – –
WA
33
WealthTrust Axiom
Pennsylvania
$227K +$24.2K +2,000 +12%
RJT
34
Raymond James Trust
Florida
$215K – – –
HI
35
Hudock Inc
Pennsylvania
$210K – – –
US Bancorp
36
US Bancorp
Minnesota
$203K -$6.05K -500 -3%
LTFS
37
Ladenburg Thalmann Financial Services
Florida
$168K – – –
LFR
38
Lehman Financial Resources
Pennsylvania
$154K – – –
BOH
39
Bank of Hawaii
Hawaii
$136K – – –
HighTower Advisors
40
HighTower Advisors
Illinois
$131K +$130K +10,704 New
Creative Planning
41
Creative Planning
Kansas
$77K -$90.1K -7,442 -54%
MFS
42
MSI Financial Services
Massachusetts
$53K – – –
Bank of Montreal
43
Bank of Montreal
Ontario, Canada
$49K – – –
WT
44
Whittier Trust
California
$49K +$48K +3,964 New
M&T Bank
45
M&T Bank
New York
$39K – – –
AIG
46
American International Group
New York
$31.6K – – –
EWM
47
Edge Wealth Management
New York
$19K – – –
ARMC
48
American Research & Management Company
Massachusetts
$18K – – –
TJHA
49
Thomas J. Herzfeld Advisors
Florida
$7K +$7.26K +600 New
DBT
50
Dubuque Bank & Trust
Iowa
$4K – – –
1
2
3

IQI Hedge Fund Activity: Q2 2014 in Review

51 of the 3,481 institutional investors tracked by Wall St. Rank reported a position in Invesco Quality Municipal Securities (IQI) for Q2 2014, worth a combined $66.6M — up 1.6% from $65.6M a quarter earlier.

Sellers outnumbered buyers: 6 funds closed out of IQI and 4 opened new positions — a net loss of 2 holders — while 14 trimmed existing stakes and 15 added.

The largest buyer was Karpus Investment Management, adding an estimated $1.25M. The largest seller was Gruss Capital Management, cutting an estimated $1.15M.

  • 51 institutional investors held Invesco Quality Municipal Securities (IQI) as of Q2 2014, down from 53 in Q1 2014.
  • Funds reported $66.6M of Invesco Quality Municipal Securities stock for Q2 2014, up 1.6% quarter-over-quarter.
  • 4 funds opened new Invesco Quality Municipal Securities positions in Q2 2014 and 6 closed out, a net change of -2 holders.
  • The largest Invesco Quality Municipal Securities buyer in Q2 2014 was Karpus Investment Management, an estimated $1.25M added.
  • The largest Invesco Quality Municipal Securities seller in Q2 2014 was Gruss Capital Management, an estimated $1.15M sold.

Based on aggregated 13F filings for Q2 2014.