Invesco California AMT-Free Municipal Bond ETF
120 hedge funds and large institutions have $473M invested in Invesco California AMT-Free Municipal Bond ETF in 2025 Q1 according to their latest regulatory filings, with 19 funds opening new positions, 36 increasing their positions, 39 reducing their positions, and 8 closing their positions.
138% more first-time investments, than exits
New positions opened: 19 | Existing positions closed: 8
9% more funds holding
Funds holding: 110 → 120 (+10)
1.83% more ownership
Funds ownership: 66.22% → 68.05% (+1.8%)
1% more capital invested
Capital invested by funds: $470M → $473M (+$3.09M)
8% less repeat investments, than reductions
Existing positions increased: 36 | Existing positions reduced: 39
33% less funds holding in top 10
Funds holding in top 10: 3 → 2 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$8.39M |
| 2 |
SWP
Stratos Wealth Partners
Beachwood,
Ohio
|
+$7.76M |
| 3 |
Mercer Global Advisors
Denver,
Colorado
|
+$4.64M |
| 4 |
Envestnet Asset Management
Chicago,
Illinois
|
+$4.47M |
| 5 |
FAT
First American Trust
Santa Ana,
California
|
+$2.79M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
-$12.7M |
| 2 |
FFA
First Foundation Advisors
Irvine,
California
|
-$5.8M |
| 3 |
Mariner
Overland Park,
Kansas
|
-$2.33M |
| 4 |
Osaic Holdings
Scottsdale,
Arizona
|
-$1.3M |
| 5 |
SC
Syon Capital
San Francisco,
California
|
-$1.04M |
PWZ Hedge Fund Activity: Q1 2025 in Review
120 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in Invesco California AMT-Free Municipal Bond ETF (PWZ) for Q1 2025, worth a combined $473M — up 0.66% from $470M a quarter earlier.
Buyers outnumbered sellers: 19 funds opened new PWZ positions and 8 closed out — a net gain of 11 holders — while 36 added to existing stakes and 39 trimmed.
The largest buyer was Susquehanna International Group, opening a new position worth an estimated $8.39M. The largest seller was Bank of America, cutting an estimated $12.7M.
- 120 institutional investors held Invesco California AMT-Free Municipal Bond ETF (PWZ) as of Q1 2025, up from 110 in Q4 2024.
- Funds reported $473M of Invesco California AMT-Free Municipal Bond ETF stock for Q1 2025, up 0.66% quarter-over-quarter.
- 19 funds opened new Invesco California AMT-Free Municipal Bond ETF positions in Q1 2025 and 8 closed out, a net change of +11 holders.
- The largest Invesco California AMT-Free Municipal Bond ETF buyer in Q1 2025 was Susquehanna International Group, an estimated $8.39M added.
- The largest Invesco California AMT-Free Municipal Bond ETF seller in Q1 2025 was Bank of America, an estimated $12.7M sold.
Based on aggregated 13F filings for Q1 2025.