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Invesco California AMT-Free Municipal Bond ETF
PWZ

54 hedge funds and large institutions have $204M invested in Invesco California AMT-Free Municipal Bond ETF in 2019 Q4 according to their latest regulatory filings, with 5 funds opening new positions, 20 increasing their positions, 8 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

150% more repeat investments, than reductions

Existing positions increased: 20 | Existing positions reduced: 8

1% less capital invested

Capital invested by funds: $207M → $204M (-$2.9M)

2.8% less ownership

Funds ownership: 59.28% → 56.48% (-2.8%)

4% less funds holding

Funds holding: 56 → 54 (-2)

29% less first-time investments, than exits

New positions opened: 5 | Existing positions closed: 7

Holders
54
Holders Change
-2
Holders Change %
-3.57%
% of All Funds
1.06%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
5
Increased
20
Reduced
8
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$1.04M
2
Bank of America
Bank of America
North Carolina
+$771K
3
Jane Street
Jane Street
New York
+$354K
4
BC
Brio Consultants
California
+$330K
5
BCI
Brinker Capital Investments
Pennsylvania
+$324K

Top Sellers

Rank Fund Capital Flow
1
CSIA
Charles Schwab Investment Advisory
California
-$5.18M
2
WP
WealthSource Partners
California
-$1.24M
3
HighTower Advisors
HighTower Advisors
Illinois
-$1.16M
4
AA
Apriem Advisors
California
-$629K
5
Citadel Advisors
Citadel Advisors
Florida
-$599K
Name Holding Trade Value Shares
Change 		Change in
Stake
PAS
26
Partnervest Advisory Services
California
$608K +$4.95K +181 +0.8%
Rockefeller Capital Management
27
Rockefeller Capital Management
New York
$505K +$260K +9,500 +106%
DWM
28
Destination Wealth Management
California
$484K -$847 -31 -0.2%
RJFSA
29
Raymond James Financial Services Advisors
Florida
$440K +$8K +293 +2%
AG
30
Advisor Group
Arizona
$425K +$1.2K +44 +0.3%
GRP
31
Global Retirement Partners
California
$349K – – –
BC
32
Brio Consultants
California
$331K +$330K +12,098 New
PWM
33
Paulson Wealth Management
Illinois
$298K – – –
EWF
34
Epstein & White Financial
California
$234K -$24.6K -902 -10%
GCA
35
Gradient Capital Advisors
California
$229K – – –
RFA
36
Reilly Financial Advisors
California
$222K – – –
CWS
37
Cypress Wealth Services
California
$216K +$1.37K +50 +0.6%
Susquehanna International Group
38
Susquehanna International Group
Pennsylvania
$213K -$108K -3,942 -34%
Royal Bank of Canada
39
Royal Bank of Canada
Ontario, Canada
$209K -$11.7K -430 -5%
HAS
40
HBW Advisory Services
California
$209K +$207K +7,589 New
MM
41
Main Management
California
$202K – – –
LTFS
42
Ladenburg Thalmann Financial Services
Florida
$196K +$4.83K +177 +3%
Citigroup
43
Citigroup
New York
$168K – – –
AIP
44
Ameritas Investment Partners
Nebraska
$141K +$28.8K +1,056 +26%
SPIA
45
Steward Partners Investment Advisory
New York
$106K – – –
SAM
46
S.A. Mason
Michigan
$65K +$64.5K +2,360 New
PNC Financial Services Group
47
PNC Financial Services Group
Pennsylvania
$55K – – –
BWA
48
BDO Wealth Advisors
Florida
$38K – – –
GI
49
Gradient Investments
Minnesota
$27K – – –
PA
50
Parallel Advisors
California
$17K – – –
1
2
3

PWZ Hedge Fund Activity: Q4 2019 in Review

54 of the 5,075 institutional investors tracked by Wall St. Rank reported a position in Invesco California AMT-Free Municipal Bond ETF (PWZ) for Q4 2019, worth a combined $204M — down 1.4% from $207M a quarter earlier.

Sellers outnumbered buyers: 7 funds closed out of PWZ and 5 opened new positions — a net loss of 2 holders — while 8 trimmed existing stakes and 20 added.

The largest buyer was Morgan Stanley, adding an estimated $1.04M. The largest seller was Charles Schwab Investment Advisory, cutting an estimated $5.18M.

  • 54 institutional investors held Invesco California AMT-Free Municipal Bond ETF (PWZ) as of Q4 2019, down from 56 in Q3 2019.
  • Funds reported $204M of Invesco California AMT-Free Municipal Bond ETF stock for Q4 2019, down 1.4% quarter-over-quarter.
  • 5 funds opened new Invesco California AMT-Free Municipal Bond ETF positions in Q4 2019 and 7 closed out, a net change of -2 holders.
  • The largest Invesco California AMT-Free Municipal Bond ETF buyer in Q4 2019 was Morgan Stanley, an estimated $1.04M added.
  • The largest Invesco California AMT-Free Municipal Bond ETF seller in Q4 2019 was Charles Schwab Investment Advisory, an estimated $5.18M sold.

Based on aggregated 13F filings for Q4 2019.