Invesco National AMT-Free Municipal Bond ETF
74 hedge funds and large institutions have $291M invested in Invesco National AMT-Free Municipal Bond ETF in 2014 Q3 according to their latest regulatory filings, with 9 funds opening new positions, 36 increasing their positions, 19 reducing their positions, and 6 closing their positions.
89% more repeat investments, than reductions
Existing positions increased: 36 | Existing positions reduced: 19
50% more first-time investments, than exits
New positions opened: 9 | Existing positions closed: 6
19% more capital invested
Capital invested by funds: $245M → $291M (+$45.5M)
4% more funds holding
Funds holding: 71 → 74 (+3)
1.41% more ownership
Funds ownership: 35.96% → 37.37% (+1.4%)
87% less call options, than puts
Call options by funds: $126K | Put options by funds: $937K
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MAA
Managed Account Advisors
Jersey City,
New Jersey
|
+$10.3M |
| 2 |
Stifel Financial
St. Louis,
Missouri
|
+$6.19M |
| 3 |
U
UBS
Zurich,
Switzerland
|
+$5.25M |
| 4 |
TNBTD
Trustmark National Bank Trust Department
Jackson,
Mississippi
|
+$5.14M |
| 5 |
BTS
BB&T Securities
Richmond,
Virginia
|
+$1.26M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FAAS
First Allied Advisory Services
San Diego,
California
|
-$2.26M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
-$964K |
| 3 |
NCM
Newgate Capital Management
Greenwich,
Connecticut
|
-$451K |
| 4 |
JG
Jefferies Group
New York
|
-$439K |
| 5 |
TIM
Tortoise Investment Management
White Plains,
New York
|
-$304K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
76
Northern Trust
Chicago,
Illinois
| – | -$12K | -47,393 | Closed |
|
|
NCM
77
Newgate Capital Management
Greenwich,
Connecticut
| – | -$451K | -18,271 | Closed |
|
|
JG
78
Jefferies Group
New York
| – | -$439K | -17,800 | Closed |
|
|
KFS
79
KMS Financial Services
Seattle,
Washington
| – | -$209K | -8,492 | Closed |
|
80
CAPTRUST Financial Advisors
Raleigh,
North Carolina
| – | -$137K | -5,538 | Closed |
|
|
BIT
81
BlackRock Institutional Trust
San Francisco,
California
| – | -$2K | -95 | Closed |
|
PZA Hedge Fund Activity: Q3 2014 in Review
74 of the 3,447 institutional investors tracked by Wall St. Rank reported a position in Invesco National AMT-Free Municipal Bond ETF (PZA) for Q3 2014, worth a combined $291M — up 19% from $245M a quarter earlier.
Buyers outnumbered sellers: 9 funds opened new PZA positions and 6 closed out — a net gain of 3 holders — while 36 added to existing stakes and 19 trimmed.
The largest buyer was Managed Account Advisors, adding an estimated $10.3M. The largest seller was First Allied Advisory Services, cutting an estimated $2.26M.
- 74 institutional investors held Invesco National AMT-Free Municipal Bond ETF (PZA) as of Q3 2014, up from 71 in Q2 2014.
- Funds reported $291M of Invesco National AMT-Free Municipal Bond ETF stock for Q3 2014, up 19% quarter-over-quarter.
- 9 funds opened new Invesco National AMT-Free Municipal Bond ETF positions in Q3 2014 and 6 closed out, a net change of +3 holders.
- The largest Invesco National AMT-Free Municipal Bond ETF buyer in Q3 2014 was Managed Account Advisors, an estimated $10.3M added.
- The largest Invesco National AMT-Free Municipal Bond ETF seller in Q3 2014 was First Allied Advisory Services, an estimated $2.26M sold.
Based on aggregated 13F filings for Q3 2014.