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Invesco California AMT-Free Municipal Bond ETF
PWZ

29 hedge funds and large institutions have $94.5M invested in Invesco California AMT-Free Municipal Bond ETF in 2017 Q2 according to their latest regulatory filings, with 4 funds opening new positions, 10 increasing their positions, 9 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

11% more repeat investments, than reductions

Existing positions increased: 10 | Existing positions reduced: 9

9% less funds holding

Funds holding: 32 → 29 (-3)

39.39% less ownership

Funds ownership: 90.65% → 51.27% (-39%)

43% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 7

49% less capital invested

Capital invested by funds: $185M → $94.5M (-$90.1M)

Holders
29
Holders Change
-3
Holders Change %
-9.38%
% of All Funds
0.72%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
4
Increased
10
Reduced
9
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
CSIA
Charles Schwab Investment Advisory
California
+$18.9M
2
DCM
Dimension Capital Management
Florida
+$676K
3
LPL Financial
LPL Financial
California
+$506K
4
Bank of America
Bank of America
North Carolina
+$368K
5
JMPWA
JP Morgan Private Wealth Advisors
California
+$235K

Top Sellers

1
Credit Agricole
Credit Agricole
France
-$101M
2
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$4.98M
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$3.47M
4
Jane Street
Jane Street
New York
-$2.9M
5
VKH
Virtu KCG Holdings
New York
-$373K
Name Holding Trade Value Shares
Change 		Change in
Stake
CSIA
1
Charles Schwab Investment Advisory
California
$55.4M +$18.9M +733,209 +52%
LPL Financial
2
LPL Financial
California
$10.3M +$506K +19,625 +5%
Bank of America
3
Bank of America
North Carolina
$7.05M +$368K +14,273 +6%
UBS Group
4
UBS Group
Switzerland
$3.19M -$98.1K -3,805 -3%
BPC
5
Banque Pictet & Cie
Switzerland
$2.68M – – –
PNAA
6
Pictet North America Advisors
Switzerland
$2.68M – – –
Wells Fargo
7
Wells Fargo
California
$2.08M +$80.4K +3,119 +4%
Morgan Stanley
8
Morgan Stanley
New York
$1.74M +$107K +4,148 +7%
GKWIM
9
Gerber Kawasaki Wealth & Investment Management
California
$1.6M +$28.4K +1,100 +2%
JMPWA
10
JP Morgan Private Wealth Advisors
California
$1.16M +$235K +9,132 +26%
PAS
11
Partnervest Advisory Services
California
$980K -$183K -7,083 -16%
Citigroup
12
Citigroup
New York
$883K -$58.7K -2,276 -6%
HighTower Advisors
13
HighTower Advisors
Illinois
$820K -$266K -10,319 -25%
DCM
14
Dimension Capital Management
Florida
$681K +$676K +26,232 New
Jane Street
15
Jane Street
New York
$524K -$2.9M -112,401 -85%
AA
16
Apriem Advisors
California
$515K +$70.3K +2,726 +16%
BCI
17
Brinker Capital Investments
Pennsylvania
$421K +$116K +4,518 +39%
Cambridge Investment Research Advisors
18
Cambridge Investment Research Advisors
Iowa
$309K +$19.3K +750 +7%
Susquehanna International Group
19
Susquehanna International Group
Pennsylvania
$242K -$3.47M -134,487 -94%
AG
20
Advisor Group
Arizona
$241K -$24.7K -959 -9%
RJFSA
21
Raymond James Financial Services Advisors
Florida
$209K +$207K +8,034 New
CCM
22
Coe Capital Management
Illinois
$203K +$201K +7,800 New
GRP
23
Global Retirement Partners
California
$197K – – –
Royal Bank of Canada
24
Royal Bank of Canada
Ontario, Canada
$187K -$4.98M -193,077 -96%
LTFS
25
Ladenburg Thalmann Financial Services
Florida
$68K – – –
1
2

PWZ Hedge Fund Activity: Q2 2017 in Review

29 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Invesco California AMT-Free Municipal Bond ETF (PWZ) for Q2 2017, worth a combined $94.5M — down 49% from $185M a quarter earlier.

Sellers outnumbered buyers: 7 funds closed out of PWZ and 4 opened new positions — a net loss of 3 holders — while 9 trimmed existing stakes and 10 added.

The largest buyer was Charles Schwab Investment Advisory, adding an estimated $18.9M. The largest seller was Credit Agricole, exiting entirely with an estimated $101M sold.

  • 29 institutional investors held Invesco California AMT-Free Municipal Bond ETF (PWZ) as of Q2 2017, down from 32 in Q1 2017.
  • Funds reported $94.5M of Invesco California AMT-Free Municipal Bond ETF stock for Q2 2017, down 49% quarter-over-quarter.
  • 4 funds opened new Invesco California AMT-Free Municipal Bond ETF positions in Q2 2017 and 7 closed out, a net change of -3 holders.
  • The largest Invesco California AMT-Free Municipal Bond ETF buyer in Q2 2017 was Charles Schwab Investment Advisory, an estimated $18.9M added.
  • The largest Invesco California AMT-Free Municipal Bond ETF seller in Q2 2017 was Credit Agricole, an estimated $101M sold.

Based on aggregated 13F filings for Q2 2017.