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Invesco California AMT-Free Municipal Bond ETF
PWZ

45 hedge funds and large institutions have $205M invested in Invesco California AMT-Free Municipal Bond ETF in 2018 Q4 according to their latest regulatory filings, with 13 funds opening new positions, 9 increasing their positions, 13 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

160% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 5

65% more capital invested

Capital invested by funds: $124M → $205M (+$81.2M)

22% more funds holding

Funds holding: 37 → 45 (+8)

13.65% more ownership

Funds ownership: 53.18% → 66.84% (+14%)

31% less repeat investments, than reductions

Existing positions increased: 9 | Existing positions reduced: 13

Holders
45
Holders Change
+8
Holders Change %
+21.62%
% of All Funds
1%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
13
Increased
9
Reduced
13
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
CSIA
Charles Schwab Investment Advisory
California
+$82.9M
2
RMC
Regis Management Company
California
+$3.28M
3
MIAN
Mariner Independent Advisor Network
Kansas
+$2.58M
4
Ameriprise
Ameriprise
Minnesota
+$694K
5
GKWIM
Gerber Kawasaki Wealth & Investment Management
California
+$568K

Top Sellers

1
Jane Street
Jane Street
New York
-$7.66M
2
LPL Financial
LPL Financial
California
-$4.63M
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$2.71M
4
Bank of America
Bank of America
North Carolina
-$1.4M
5
LNC
Lincoln National Corp
Pennsylvania
-$801K
Name Holding Trade Value Shares
Change 		Change in
Stake
EWF
26
Epstein & White Financial
California
$240K -$120K -4,727 -34%
CCP
27
Corient Capital Partners
California
$226K +$222K +8,759 New
AWM
28
AE Wealth Management
Kansas
$218K -$77.9K -3,066 -27%
SS
29
Simplicity Solutions
Minnesota
$218K +$215K +8,458 New
GCA
30
Gradient Capital Advisors
California
$216K – – –
CCM
31
Coe Capital Management
Illinois
$201K +$198K +7,800 New
MM
32
Main Management
California
$191K +$188K +7,400 New
DWM
33
Destination Wealth Management
California
$172K – – –
Citigroup
34
Citigroup
New York
$168K -$61.1K -2,404 -27%
GRP
35
Global Retirement Partners
California
$57K – – –
PNC Financial Services Group
36
PNC Financial Services Group
Pennsylvania
$52K – – –
GI
37
Gradient Investments
Minnesota
$26K – – –
PA
38
Parallel Advisors
California
$14K – – –
WANY
39
Wealthspire Advisors (New York)
New York
$11K +$10.9K +430 New
KC
40
Knuff & Co
California
$8K +$7.42K +292 New
TRCT
41
Tower Research Capital (TRC)
New York
$8K +$7.64K +301 New
AF
42
Allworth Financial
California
$4K – – –
EWM
43
Elmwood Wealth Management
California
$2K -$51 -2 -2%
BlackRock
44
BlackRock
New York
$1K -$51 -2 -5%
Susquehanna International Group
45
Susquehanna International Group
Pennsylvania
– -$2.71M -106,161 Closed
LNC
46
Lincoln National Corp
Pennsylvania
– -$801K -31,383 Closed
TSS
47
Two Sigma Securities
New York
– -$280K -11,001 Closed
Citadel Advisors
48
Citadel Advisors
Florida
– -$280K -10,974 Closed
LTFS
49
Ladenburg Thalmann Financial Services
Florida
– -$239K -9,373 Closed
Fidelity Investments
50
Fidelity Investments
Massachusetts
– +$25 +1 New
1
2

PWZ Hedge Fund Activity: Q4 2018 in Review

45 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in Invesco California AMT-Free Municipal Bond ETF (PWZ) for Q4 2018, worth a combined $205M — up 65% from $124M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new PWZ positions and 5 closed out — a net gain of 8 holders — while 9 added to existing stakes and 13 trimmed.

The largest buyer was Charles Schwab Investment Advisory, adding an estimated $82.9M. The largest seller was Jane Street, cutting an estimated $7.66M.

  • 45 institutional investors held Invesco California AMT-Free Municipal Bond ETF (PWZ) as of Q4 2018, up from 37 in Q3 2018.
  • Funds reported $205M of Invesco California AMT-Free Municipal Bond ETF stock for Q4 2018, up 65% quarter-over-quarter.
  • 13 funds opened new Invesco California AMT-Free Municipal Bond ETF positions in Q4 2018 and 5 closed out, a net change of +8 holders.
  • The largest Invesco California AMT-Free Municipal Bond ETF buyer in Q4 2018 was Charles Schwab Investment Advisory, an estimated $82.9M added.
  • The largest Invesco California AMT-Free Municipal Bond ETF seller in Q4 2018 was Jane Street, an estimated $7.66M sold.

Based on aggregated 13F filings for Q4 2018.