Invesco National AMT-Free Municipal Bond ETF
79 hedge funds and large institutions have $400M invested in Invesco National AMT-Free Municipal Bond ETF in 2014 Q4 according to their latest regulatory filings, with 14 funds opening new positions, 30 increasing their positions, 20 reducing their positions, and 8 closing their positions.
100% more funds holding in top 10
Funds holding in top 10: 1 → 2 (+1)
75% more first-time investments, than exits
New positions opened: 14 | Existing positions closed: 8
50% more repeat investments, than reductions
Existing positions increased: 30 | Existing positions reduced: 20
38% more capital invested
Capital invested by funds: $291M → $400M (+$110M)
28% more call options, than puts
Call options by funds: $427K | Put options by funds: $333K
7% more funds holding
Funds holding: 74 → 79 (+5)
5.24% more ownership
Funds ownership: 37.37% → 42.6% (+5.2%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CPO
Cerity Partners OCIO
New York
|
+$19.1M |
| 2 |
Wells Fargo
San Francisco,
California
|
+$16.4M |
| 3 |
MAA
Managed Account Advisors
Jersey City,
New Jersey
|
+$12.2M |
| 4 |
ACM
Ashford Capital Management
Wilmington,
Delaware
|
+$5.79M |
| 5 |
Morgan Stanley
New York
|
+$5.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Stifel Financial
St. Louis,
Missouri
|
-$2.73M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
-$1.86M |
| 3 |
Goldman Sachs
New York
|
-$1.18M |
| 4 |
Envestnet Asset Management
Chicago,
Illinois
|
-$666K |
| 5 |
MFBTD
MB Financial Bank - Trust Department
Rosemont,
Illinois
|
-$406K |
PZA Hedge Fund Activity: Q4 2014 in Review
79 of the 3,750 institutional investors tracked by Wall St. Rank reported a position in Invesco National AMT-Free Municipal Bond ETF (PZA) for Q4 2014, worth a combined $400M — up 38% from $291M a quarter earlier.
Buyers outnumbered sellers: 14 funds opened new PZA positions and 8 closed out — a net gain of 6 holders — while 30 added to existing stakes and 20 trimmed.
The largest buyer was Cerity Partners OCIO, adding an estimated $19.1M. The largest seller was Stifel Financial, cutting an estimated $2.73M.
- 79 institutional investors held Invesco National AMT-Free Municipal Bond ETF (PZA) as of Q4 2014, up from 74 in Q3 2014.
- Funds reported $400M of Invesco National AMT-Free Municipal Bond ETF stock for Q4 2014, up 38% quarter-over-quarter.
- 14 funds opened new Invesco National AMT-Free Municipal Bond ETF positions in Q4 2014 and 8 closed out, a net change of +6 holders.
- The largest Invesco National AMT-Free Municipal Bond ETF buyer in Q4 2014 was Cerity Partners OCIO, an estimated $19.1M added.
- The largest Invesco National AMT-Free Municipal Bond ETF seller in Q4 2014 was Stifel Financial, an estimated $2.73M sold.
Based on aggregated 13F filings for Q4 2014.