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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
AWA
101
Alaska Wealth Advisors
Alaska
$311K +$311K +11,747 New
VC
102
Vicus Capital
Pennsylvania
$304K +$1.11K +42 +0.4%
LWAC
103
Laurel Wealth Advisors (California)
California
$304K +$17.2K +649 +6%
SFS
104
Sowell Financial Services
Arkansas
$303K – – –
VA
105
Valmark Advisers
Ohio
$298K +$298K +11,255 New
Mariner
106
Mariner
Kansas
$289K – – –
CONA
107
Capital One National Association
New York
$289K +$289K +10,915 New
DWT
108
Dorsey & Whitney Trust
South Dakota
$284K – – –
Cetera Investment Advisers
109
Cetera Investment Advisers
Illinois
$276K +$17.9K +678 +7%
WAAG
110
Wealth Alliance Advisory Group
Kansas
$274K – – –
ARG
111
Advisory Resource Group
Oklahoma
$273K – – –
KA
112
Kovack Advisors
Florida
$268K +$18.3K +693 +7%
Bank of Montreal
113
Bank of Montreal
Ontario, Canada
$261K +$261K +9,859 New
AI
114
Atria Investments
North Carolina
$258K +$258K +9,762 New
GT
115
Glenview Trust
Kentucky
$254K – – –
AMG
116
Asset Management Group
Connecticut
$248K +$1.72K +65 +0.7%
AWM
117
Apollon Wealth Management
South Carolina
$246K +$3.76K +142 +2%
CWC
118
Carolinas Wealth Consulting
North Carolina
$244K +$246K +9,284 New
BlackRock
119
BlackRock
New York
$233K – – –
US Bancorp
120
US Bancorp
Minnesota
$230K – – –
TC
121
Telemus Capital
Michigan
$229K -$13.2K -500 -5%
KWM
122
Kingsview Wealth Management
Oregon
$224K +$794 +30 +0.4%
CFD
123
Creative Financial Designs
Indiana
$218K -$113K -4,266 -34%
PAS
124
Partnervest Advisory Services
California
$216K +$79 +3 +0%
PFGIA
125
Patriot Financial Group Insurance Agency
Massachusetts
$216K +$4.5K +170 +2%
3 4
5
6 7

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.