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Invesco California AMT-Free Municipal Bond ETF
PWZ

53 hedge funds and large institutions have $318M invested in Invesco California AMT-Free Municipal Bond ETF in 2020 Q1 according to their latest regulatory filings, with 6 funds opening new positions, 21 increasing their positions, 11 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

91% more repeat investments, than reductions

Existing positions increased: 21 | Existing positions reduced: 11

56% more capital invested

Capital invested by funds: $204M → $318M (+$114M)

20% more first-time investments, than exits

New positions opened: 6 | Existing positions closed: 5

10.72% more ownership

Funds ownership: 56.48% → 67.2% (+11%)

2% less funds holding

Funds holding: 54 → 53 (-1)

Holders
53
Holders Change
-1
Holders Change %
-1.85%
% of All Funds
1.17%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
6
Increased
21
Reduced
11
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
CSIA
Charles Schwab Investment Advisory
California
+$75.3M
2
Jane Street
Jane Street
New York
+$41.5M
3
Citadel Advisors
Citadel Advisors
Florida
+$2.15M
4
Fidelity Investments
Fidelity Investments
Massachusetts
+$1.29M
5
Bank of America
Bank of America
North Carolina
+$608K

Top Sellers

Rank Fund Capital Flow
1
DADC
D.A. Davidson & Co
Montana
-$1.15M
2
MAFM
Mid Atlantic Financial Management
Pennsylvania
-$672K
3
PWM
Paulson Wealth Management
Illinois
-$298K
4
Wells Fargo
Wells Fargo
California
-$237K
5
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$213K
Name Holding Trade Value Shares
Change 		Change in
Stake
Rockefeller Capital Management
26
Rockefeller Capital Management
New York
$498K – – –
Osaic Holdings
27
Osaic Holdings
Arizona
$480K +$13.5M +490,623 New
DWM
28
Destination Wealth Management
California
$476K -$1.18K -43 -0.2%
RJFSA
29
Raymond James Financial Services Advisors
Florida
$435K +$1.87K +68 +0.4%
A
30
AdvicePeriod
California
$390K +$397K +14,449 New
BC
31
Brio Consultants
California
$290K -$37.3K -1,358 -11%
GRP
32
Global Retirement Partners
California
$275K -$71.2K -2,593 -20%
GCA
33
Gradient Capital Advisors
California
$226K – – –
EWF
34
Epstein & White Financial
California
$223K -$6.72K -245 -3%
RFA
35
Reilly Financial Advisors
California
$219K – – –
MAFM
36
Mid Atlantic Financial Management
Pennsylvania
$218K -$672K -24,486 -75%
CWS
37
Cypress Wealth Services
California
$214K +$1.37K +50 +0.6%
Royal Bank of Canada
38
Royal Bank of Canada
Ontario, Canada
$213K +$7.16K +261 +3%
MM
39
Main Management
California
$200K – – –
Citigroup
40
Citigroup
New York
$169K +$2.74K +100 +2%
AIP
41
Ameritas Investment Partners
Nebraska
$156K +$17.5K +638 +12%
CAPTRUST Financial Advisors
42
CAPTRUST Financial Advisors
North Carolina
$130K +$137K +5,000 New
SAM
43
S.A. Mason
Michigan
$64K – – –
PNC Financial Services Group
44
PNC Financial Services Group
Pennsylvania
$54K – – –
US Bancorp
45
US Bancorp
Minnesota
$53K +$54.3K +1,978 New
BWA
46
BDO Wealth Advisors
Florida
$38K – – –
GI
47
Gradient Investments
Minnesota
$27K – – –
PA
48
Parallel Advisors
California
$15K -$1.87K -68 -11%
KC
49
Knuff & Co
California
$8K – – –
TRCT
50
Tower Research Capital (TRC)
New York
$8K – – –
1
2
3

PWZ Hedge Fund Activity: Q1 2020 in Review

53 of the 4,539 institutional investors tracked by Wall St. Rank reported a position in Invesco California AMT-Free Municipal Bond ETF (PWZ) for Q1 2020, worth a combined $318M — up 56% from $204M a quarter earlier.

Buyers outnumbered sellers: 6 funds opened new PWZ positions and 5 closed out — a net gain of 1 holder — while 21 added to existing stakes and 11 trimmed.

The largest buyer was Charles Schwab Investment Advisory, adding an estimated $75.3M. The largest seller was D.A. Davidson & Co, exiting entirely with an estimated $1.15M sold.

  • 53 institutional investors held Invesco California AMT-Free Municipal Bond ETF (PWZ) as of Q1 2020, down from 54 in Q4 2019.
  • Funds reported $318M of Invesco California AMT-Free Municipal Bond ETF stock for Q1 2020, up 56% quarter-over-quarter.
  • 6 funds opened new Invesco California AMT-Free Municipal Bond ETF positions in Q1 2020 and 5 closed out, a net change of +1 holder.
  • The largest Invesco California AMT-Free Municipal Bond ETF buyer in Q1 2020 was Charles Schwab Investment Advisory, an estimated $75.3M added.
  • The largest Invesco California AMT-Free Municipal Bond ETF seller in Q1 2020 was D.A. Davidson & Co, an estimated $1.15M sold.

Based on aggregated 13F filings for Q1 2020.