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Invesco National AMT-Free Municipal Bond ETF
PZA

133 hedge funds and large institutions have $957M invested in Invesco National AMT-Free Municipal Bond ETF in 2017 Q4 according to their latest regulatory filings, with 38 funds opening new positions, 43 increasing their positions, 30 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

443% more first-time investments, than exits

New positions opened: 38 | Existing positions closed: 7

43% more repeat investments, than reductions

Existing positions increased: 43 | Existing positions reduced: 30

30% more funds holding

Funds holding: 102 → 133 (+31)

1.01% more ownership

Funds ownership: 57.97% → 58.98% (+1%)

4% more capital invested

Capital invested by funds: $919M → $957M (+$37.8M)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

Holders
133
Holders Change
+31
Holders Change %
+30.39%
% of All Funds
3.02%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.05%
New
38
Increased
43
Reduced
30
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
UBS Group
UBS Group
Switzerland
+$15.4M
2
Bank of America
Bank of America
North Carolina
+$9.94M
3
Ameriprise
Ameriprise
Minnesota
+$2.83M
4
MPWT
MassMutual Private Wealth & Trust
Connecticut
+$2.67M
5
RCM
Robinson Capital Management
Michigan
+$2.35M

Top Sellers

Rank Fund Capital Flow
1
Jane Street
Jane Street
New York
-$11.1M
2
TNBTD
Trustmark National Bank Trust Department
Mississippi
-$6.8M
3
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$3.15M
4
CPO
Cerity Partners OCIO
New York
-$1.47M
5
NC
NewSquare Capital
Pennsylvania
-$743K
Name Holding Trade Value Shares
Change 		Change in
Stake
RJFSA
26
Raymond James Financial Services Advisors
Florida
$1.97M +$113K +4,402 +6%
MML Investors Services
27
MML Investors Services
Massachusetts
$1.95M +$170K +6,612 +10%
TFA
28
Transamerica Financial Advisors
Florida
$1.84M -$693K -27,014 -27%
SF
29
Synovus Financial
Georgia
$1.75M +$273K +10,660 +19%
Baird Financial Group
30
Baird Financial Group
Wisconsin
$1.63M -$133K -5,194 -8%
RCM
31
Robinson Capital Management
Michigan
$1.57M +$2.35M +91,627 New
TIM
32
Tortoise Investment Management
New York
$1.55M – – –
Manulife (Manufacturers Life Insurance)
33
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$1.51M +$554K +21,624 +58%
AIA
34
Allegis Investment Advisors
Idaho
$1.18M +$1.17M +45,705 New
CI
35
Cambiar Investors
Colorado
$1.15M – – –
RBA
36
Richard Bernstein Advisors
New York
$1.1M +$1.09M +42,534 +21,925%
SCA
37
Snowden Capital Advisors
New York
$1.05M -$7.03K -274 -0.7%
AMG
38
Asset Management Group
Connecticut
$1.03M +$4.92K +192 +0.5%
CPO
39
Cerity Partners OCIO
New York
$1.01M -$1.47M -57,326 -59%
FUBT
40
First United Bank & Trust
Maryland
$959K +$55.3K +2,155 +6%
Renaissance Technologies
41
Renaissance Technologies
New York
$919K +$913K +35,600 New
NC
42
NewSquare Capital
Pennsylvania
$852K -$743K -28,993 -47%
KL
43
KWMG LLC
Kansas
$851K -$46.2K -1,801 -5%
FAIM
44
Financial Advocates Investment Management
Washington
$804K +$798K +31,133 New
LNC
45
Lincoln National Corp
Pennsylvania
$684K +$341K +13,312 +101%
Millennium Management
46
Millennium Management
New York
$650K +$646K +25,185 New
CM
47
Columbus Macro
Pennsylvania
$647K +$643K +25,081 New
BTS
48
BB&T Securities
Virginia
$621K +$8.44K +329 +1%
IFA
49
Interactive Financial Advisors
Illinois
$620K -$16.9K -661 -3%
CA
50
Cetera Advisors
Colorado
$608K -$5.13K -200 -0.8%
1
2
3 4 5

PZA Hedge Fund Activity: Q4 2017 in Review

133 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in Invesco National AMT-Free Municipal Bond ETF (PZA) for Q4 2017, worth a combined $957M — up 4.1% from $919M a quarter earlier.

Buyers outnumbered sellers: 38 funds opened new PZA positions and 7 closed out — a net gain of 31 holders — while 43 added to existing stakes and 30 trimmed.

The largest buyer was UBS Group, adding an estimated $15.4M. The largest seller was Jane Street, exiting entirely with an estimated $11.1M sold.

  • 133 institutional investors held Invesco National AMT-Free Municipal Bond ETF (PZA) as of Q4 2017, up from 102 in Q3 2017.
  • Funds reported $957M of Invesco National AMT-Free Municipal Bond ETF stock for Q4 2017, up 4.1% quarter-over-quarter.
  • 38 funds opened new Invesco National AMT-Free Municipal Bond ETF positions in Q4 2017 and 7 closed out, a net change of +31 holders.
  • The largest Invesco National AMT-Free Municipal Bond ETF buyer in Q4 2017 was UBS Group, an estimated $15.4M added.
  • The largest Invesco National AMT-Free Municipal Bond ETF seller in Q4 2017 was Jane Street, an estimated $11.1M sold.

Based on aggregated 13F filings for Q4 2017.