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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

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

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
CSIA
1
Charles Schwab Investment Advisory
California
$145M -$5.18M -189,654 -3%
Bank of America
2
Bank of America
North Carolina
$8.45M +$771K +28,211 +10%
Morgan Stanley
3
Morgan Stanley
New York
$7.63M +$1.04M +37,919 +16%
Ameriprise
4
Ameriprise
Minnesota
$4.07M +$132K +4,831 +3%
RMC
5
Regis Management Company
California
$3.53M – – –
MIAN
6
Mariner Independent Advisor Network
Kansas
$3.19M +$113K +4,154 +4%
UBS Group
7
UBS Group
Switzerland
$3.06M +$104K +3,791 +4%
GKWIM
8
Gerber Kawasaki Wealth & Investment Management
California
$2.56M -$27.8K -1,017 -1%
Wells Fargo
9
Wells Fargo
California
$2.17M +$235K +8,594 +12%
SWRP
10
Summit Wealth & Retirement Planning
California
$2.16M -$132K -4,820 -6%
SW
11
SteelPeak Wealth
California
$1.78M +$1.78M +65,007 New
LPL Financial
12
LPL Financial
California
$1.76M +$182K +6,657 +12%
FCA
13
FLC Capital Advisors
California
$1.47M – – –
CAN
14
Cetera Advisor Networks
California
$1.4M – – –
DADC
15
D.A. Davidson & Co
Montana
$1.15M – – –
MWM
16
McNaughton Wealth Management
California
$1.1M +$1.1M +40,370 New
Jane Street
17
Jane Street
New York
$899K +$354K +12,966 +65%
MAFM
18
Mid Atlantic Financial Management
Pennsylvania
$891K +$5.66K +207 +0.6%
Cambridge Investment Research Advisors
19
Cambridge Investment Research Advisors
Iowa
$876K -$58K -2,122 -6%
BCI
20
Brinker Capital Investments
Pennsylvania
$854K +$324K +11,878 +61%
KeyBank National Association
21
KeyBank National Association
Ohio
$837K +$55K +2,015 +7%
DCM
22
Dimension Capital Management
Florida
$717K – – –
Fidelity Investments
23
Fidelity Investments
Massachusetts
$651K +$20.8K +760 +3%
CCM
24
Coe Capital Management
Illinois
$629K – – –
LNC
25
Lincoln National Corp
Pennsylvania
$611K +$55.3K +2,025 +10%
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.