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Invesco National AMT-Free Municipal Bond ETF
PZA

178 hedge funds and large institutions have $1.18B invested in Invesco National AMT-Free Municipal Bond ETF in 2019 Q4 according to their latest regulatory filings, with 44 funds opening new positions, 73 increasing their positions, 22 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

300% more first-time investments, than exits

New positions opened: 44 | Existing positions closed: 11

232% more repeat investments, than reductions

Existing positions increased: 73 | Existing positions reduced: 22

19% more funds holding

Funds holding: 149 → 178 (+29)

1% less capital invested

Capital invested by funds: $1.19B → $1.18B (-$11.4M)

2.6% less ownership

Funds ownership: 58.99% → 56.39% (-2.6%)

40% less funds holding in top 10

Funds holding in top 10: 5 → 3 (-2)

Holders
178
Holders Change
+29
Holders Change %
+19.46%
% of All Funds
3.51%
Holding in Top 10
3
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-40%
% of All Funds
0.06%
New
44
Increased
73
Reduced
22
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
UBS Group
UBS Group
Switzerland
+$15.8M
2
MAFM
Mid Atlantic Financial Management
Pennsylvania
+$3.89M
3
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$3.45M
4
Qube Research & Technologies (QRT)
Qube Research & Technologies (QRT)
United Kingdom
+$3.04M
5
Citigroup
Citigroup
New York
+$2.07M

Top Sellers

Rank Fund Capital Flow
1
UBS AM
UBS AM
Illinois
-$46.9M
2
PWG
Private Wealth Group
Florida
-$10.2M
3
NS
NewDay Solutions
New Hampshire
-$3.07M
4
Wells Fargo
Wells Fargo
California
-$535K
5
BWCS
Beirne Wealth Consulting Services
Connecticut
-$488K
Name Holding Trade Value Shares
Change 		Change in
Stake
Jane Street
26
Jane Street
New York
$2.78M +$1.72M +65,150 +164%
RJA
27
Raymond James & Associates
Florida
$2.75M +$943K +35,647 +52%
Goldman Sachs
28
Goldman Sachs
New York
$2.59M -$2.7K -102 -0.1%
FAAS
29
First Allied Advisory Services
California
$2.42M -$99.7K -3,769 -4%
Janney Montgomery Scott
30
Janney Montgomery Scott
Pennsylvania
$2.35M +$294K +11,100 +14%
CB
31
Commerce Bank
Missouri
$2.29M – – –
PI
32
PFS Investments
Georgia
$2.16M +$424K +16,017 +24%
Commonwealth Equity Services
33
Commonwealth Equity Services
Massachusetts
$1.92M +$189K +7,127 +11%
Rockefeller Capital Management
34
Rockefeller Capital Management
New York
$1.89M -$381K -14,409 -17%
BAM
35
Belpointe Asset Management
Nevada
$1.77M +$370K +13,993 +26%
SW
36
SteelPeak Wealth
California
$1.68M +$1.68M +63,540 New
CA
37
Calton & Associates
Florida
$1.65M +$104K +3,917 +7%
CS
38
Credit Suisse
Switzerland
$1.65M +$1.65M +62,393 New
Baird Financial Group
39
Baird Financial Group
Wisconsin
$1.6M +$646K +24,425 +68%
SFG
40
StrategIQ Financial Group
Indiana
$1.58M +$185K +7,008 +13%
Citadel Advisors
41
Citadel Advisors
Florida
$1.5M +$474K +17,924 +46%
AFP
42
Ausdal Financial Partners
Iowa
$1.49M +$241K +9,098 +20%
Northwestern Mutual Wealth Management
43
Northwestern Mutual Wealth Management
Wisconsin
$1.45M +$48.2K +1,823 +3%
SF
44
Synovus Financial
Georgia
$1.39M -$106K -4,000 -7%
MML Investors Services
45
MML Investors Services
Massachusetts
$1.34M +$328K +12,383 +32%
SCA
46
Snowden Capital Advisors
New York
$1.32M +$5.82K +220 +0.4%
SPC
47
Sigma Planning Corp
Michigan
$1.32M +$229K +8,638 +21%
JP Morgan Chase
48
JP Morgan Chase
New York
$1.32M +$1.03M +38,773 +353%
CI
49
Cambiar Investors
Colorado
$1.19M – – –
TIM
50
Tortoise Investment Management
New York
$1.08M +$86.8K +3,280 +9%
1
2
3 4 5

PZA Hedge Fund Activity: Q4 2019 in Review

178 of the 5,075 institutional investors tracked by Wall St. Rank reported a position in Invesco National AMT-Free Municipal Bond ETF (PZA) for Q4 2019, worth a combined $1.18B — down 0.96% from $1.19B a quarter earlier.

Buyers outnumbered sellers: 44 funds opened new PZA positions and 11 closed out — a net gain of 33 holders — while 73 added to existing stakes and 22 trimmed.

The largest buyer was UBS Group, adding an estimated $15.8M. The largest seller was UBS AM, exiting entirely with an estimated $46.9M sold.

  • 178 institutional investors held Invesco National AMT-Free Municipal Bond ETF (PZA) as of Q4 2019, up from 149 in Q3 2019.
  • Funds reported $1.18B of Invesco National AMT-Free Municipal Bond ETF stock for Q4 2019, down 0.96% quarter-over-quarter.
  • 44 funds opened new Invesco National AMT-Free Municipal Bond ETF positions in Q4 2019 and 11 closed out, a net change of +33 holders.
  • The largest Invesco National AMT-Free Municipal Bond ETF buyer in Q4 2019 was UBS Group, an estimated $15.8M added.
  • The largest Invesco National AMT-Free Municipal Bond ETF seller in Q4 2019 was UBS AM, an estimated $46.9M sold.

Based on aggregated 13F filings for Q4 2019.