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Invesco National AMT-Free Municipal Bond ETF

69 hedge funds and large institutions have $200M invested in Invesco National AMT-Free Municipal Bond ETF in 2013 Q3 according to their latest regulatory filings, with 13 funds opening new positions, 14 increasing their positions, 34 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

117% more first-time investments, than exits

New positions opened: 13 | Existing positions closed: 6

8% more funds holding

Funds holding: 6469 (+5)

7.7% less ownership

Funds ownership: 39.91%32.22% (-7.7%)

39% less capital invested

Capital invested by funds: $328M → $200M (-$128M)

59% less repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 34

100% less funds holding in top 10

Funds holding in top 10: 20 (-2)

Holders
69
Holders Change
+5
Holders Change %
+7.81%
% of All Funds
2.24%
Holding in Top 10
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-100%
% of All Funds
New
13
Increased
14
Reduced
34
Closed
6
Calls
Puts
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
Chevy Chase Trust
26
Chevy Chase Trust
Maryland
$1.46M -$203K -8,830 -12%
DADC
27
D.A. Davidson & Co
Montana
$1.36M -$1.84K -80 -0.1%
Jane Street
28
Jane Street
New York
$1.3M +$1.3M +56,556 New
CI
29
Cambiar Investors
Colorado
$1.04M +$1.03M +45,000 New
Comerica Bank
30
Comerica Bank
Texas
$952K -$325K -14,129 -26%
AMG
31
Asset Management Group
Connecticut
$908K +$81.2K +3,532 +10%
BIT
32
BlackRock Institutional Trust
California
$863K +$613K +26,633 +247%
RJFSA
33
Raymond James Financial Services Advisors
Florida
$847K -$195K -8,470 -19%
EWA
34
Exencial Wealth Advisors
Oklahoma
$843K
AIG
35
American International Group
New York
$779K +$62K +2,694 +9%
CS
36
Credit Suisse
Switzerland
$742K -$201K -8,728 -21%
Envestnet Asset Management
37
Envestnet Asset Management
Illinois
$652K +$176K +7,650 +37%
First Trust Advisors
38
First Trust Advisors
Illinois
$638K -$549K -23,886 -46%
VKH
39
Virtu KCG Holdings
New York
$617K +$615K +26,747 New
Cambridge Investment Research Advisors
40
Cambridge Investment Research Advisors
Iowa
$564K -$67.9K -2,951 -11%
Janney Montgomery Scott
41
Janney Montgomery Scott
Pennsylvania
$548K +$546K +23,747 New
Susquehanna International Group
42
Susquehanna International Group
Pennsylvania
$488K +$487K +21,160 New
RCM
43
Rotella Capital Management
Washington
$431K +$430K +18,700 New
RJA
44
Raymond James & Associates
Florida
$363K +$16.2K +705 +5%
NC
45
NewSquare Capital
Pennsylvania
$319K -$32.1K -1,394 -9%
CWM
46
Concert Wealth Management
California
$317K -$7.01K -305 -2%
SF
47
Synovus Financial
Georgia
$316K +$89.7K +3,900 +40%
BCM
48
Bluefin Capital Management
New York
$300K +$277K +12,037 New
CPO
49
Cerity Partners OCIO
New York
$260K -$1.84K -80 -0.7%
BA
50
Boston Advisors
Massachusetts
$252K

PZA Hedge Fund Activity: Q3 2013 in Review

69 of the 3,084 institutional investors tracked by Wall St. Rank reported a position in Invesco National AMT-Free Municipal Bond ETF (PZA) for Q3 2013, worth a combined $200M — down 39% from $328M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new PZA positions and 6 closed out — a net gain of 7 holders — while 14 added to existing stakes and 34 trimmed.

The largest buyer was First Allied Advisory Services, adding an estimated $3.52M. The largest seller was Bank of America, cutting an estimated $55.6M.

  • 69 institutional investors held Invesco National AMT-Free Municipal Bond ETF (PZA) as of Q3 2013, up from 64 in Q2 2013.
  • Funds reported $200M of Invesco National AMT-Free Municipal Bond ETF stock for Q3 2013, down 39% quarter-over-quarter.
  • 13 funds opened new Invesco National AMT-Free Municipal Bond ETF positions in Q3 2013 and 6 closed out, a net change of +7 holders.
  • The largest Invesco National AMT-Free Municipal Bond ETF buyer in Q3 2013 was First Allied Advisory Services, an estimated $3.52M added.
  • The largest Invesco National AMT-Free Municipal Bond ETF seller in Q3 2013 was Bank of America, an estimated $55.6M sold.

Based on aggregated 13F filings for Q3 2013.