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Invesco National AMT-Free Municipal Bond ETF
PZA

177 hedge funds and large institutions have $1.14B invested in Invesco National AMT-Free Municipal Bond ETF in 2020 Q4 according to their latest regulatory filings, with 28 funds opening new positions, 70 increasing their positions, 35 reducing their positions, and 21 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more repeat investments, than reductions

Existing positions increased: 70 | Existing positions reduced: 35

33% more first-time investments, than exits

New positions opened: 28 | Existing positions closed: 21

3% more funds holding

Funds holding: 172 → 177 (+5)

18.33% less ownership

Funds ownership: 70.11% → 51.77% (-18%)

33% less funds holding in top 10

Funds holding in top 10: 3 → 2 (-1)

40% less capital invested

Capital invested by funds: $1.89B → $1.14B (-$753M)

Holders
177
Holders Change
+5
Holders Change %
+2.91%
% of All Funds
3.13%
Holding in Top 10
2
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-33.33%
% of All Funds
0.04%
New
28
Increased
70
Reduced
35
Closed
21
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$6.61M
2
AHC
Anderson Hoagland & Co
Missouri
+$2.43M
3
Cetera Investment Advisers
Cetera Investment Advisers
Illinois
+$1.93M
4
Qube Research & Technologies (QRT)
Qube Research & Technologies (QRT)
United Kingdom
+$1.68M
5
SWRP
Summit Wealth & Retirement Planning
California
+$1.67M

Top Sellers

Rank Fund Capital Flow
1
UBS Group
UBS Group
Switzerland
-$235M
2
Bank of America
Bank of America
North Carolina
-$225M
3
RBA
Richard Bernstein Advisors
New York
-$196M
4
MSL
Mackay Shields LLC
New York
-$146M
5
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$11.8M
Name Holding Trade Value Shares
Change 		Change in
Stake
JIP
126
Jaffetilchin Investment Partners
Florida
$230K -$723 -27 -0.3%
DWM
127
Dakota Wealth Management
Florida
$224K – – –
VA
128
Valmark Advisers
Ohio
$222K -$1.74K -65 -0.8%
SWP
129
Stratos Wealth Partners
Ohio
$221K +$218K +8,153 New
BS
130
Boenning & Scattergood
Pennsylvania
$217K – – –
RJT
131
Raymond James Trust
Florida
$217K – – –
IWP
132
Insight Wealth Partners
Texas
$201K +$198K +7,415 New
Fidelity Investments
133
Fidelity Investments
Massachusetts
$186K -$79.5K -2,969 -30%
CIAS
134
Capital Investment Advisory Services
North Carolina
$178K +$21.4K +799 +14%
IA
135
IFP Advisors
Florida
$177K – – –
AF
136
Advisornet Financial
Minnesota
$170K – – –
HWA
137
HHM Wealth Advisors
Tennessee
$155K – – –
ASN
138
Advisory Services Network
Georgia
$139K +$51K +1,905 +59%
FPS
139
Fieldpoint Private Securities
Connecticut
$100K +$98.7K +3,687 New
ICP
140
Interchange Capital Partners
Pennsylvania
$100K +$98.9K +3,695 New
SL
141
Savior LLC
Massachusetts
$91K – – –
PA
142
Parallel Advisors
California
$83K – – –
CAL
143
Capital Analysts LLC
Pennsylvania
$62K +$348 +13 +0.6%
IWP
144
IAG Wealth Partners
Wisconsin
$59K – – –
GEA
145
Glen Eagle Advisors
New Jersey
$58.8K – – –
NG
146
NWK Group
California
$56K – – –
BAM
147
Barrett Asset Management
New York
$54K – – –
BFEC
148
Benjamin F. Edwards & Company
Missouri
$54K – – –
NSIM
149
North Star Investment Management
Illinois
$54K – – –
OC
150
Oakworth Capital
Alabama
$41K – – –
4 5
6
7 8

PZA Hedge Fund Activity: Q4 2020 in Review

177 of the 5,651 institutional investors tracked by Wall St. Rank reported a position in Invesco National AMT-Free Municipal Bond ETF (PZA) for Q4 2020, worth a combined $1.14B — down 40% from $1.89B a quarter earlier.

Buyers outnumbered sellers: 28 funds opened new PZA positions and 21 closed out — a net gain of 7 holders — while 70 added to existing stakes and 35 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $6.61M. The largest seller was UBS Group, cutting an estimated $235M.

  • 177 institutional investors held Invesco National AMT-Free Municipal Bond ETF (PZA) as of Q4 2020, up from 172 in Q3 2020.
  • Funds reported $1.14B of Invesco National AMT-Free Municipal Bond ETF stock for Q4 2020, down 40% quarter-over-quarter.
  • 28 funds opened new Invesco National AMT-Free Municipal Bond ETF positions in Q4 2020 and 21 closed out, a net change of +7 holders.
  • The largest Invesco National AMT-Free Municipal Bond ETF buyer in Q4 2020 was Morgan Stanley, an estimated $6.61M added.
  • The largest Invesco National AMT-Free Municipal Bond ETF seller in Q4 2020 was UBS Group, an estimated $235M sold.

Based on aggregated 13F filings for Q4 2020.