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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
Deutsche Bank
151
Deutsche Bank
Germany
$35K +$24.1K +899 +231%
CB
152
Community Bank
New York
$34K – – –
BCWM
153
Bartlett & Co Wealth Management
Ohio
$30.4K – – –
BC
154
Bartlett & Co
Ohio
$30K – – –
DTIM
155
Danda Trouve Investment Management
Kansas
$30K +$161 +6 +0.6%
Franklin Resources
156
Franklin Resources
California
$27K – – –
Carson Wealth (CWM LLC)
157
Carson Wealth (CWM LLC)
Nebraska
$25K – – –
PFBT
158
Parkside Financial Bank & Trust
Missouri
$25K – – –
HNB
159
Huntington National Bank
Ohio
$24K – – –
APWA
160
Atlas Private Wealth Advisors
New Jersey
$20K – – –
BWL
161
Bogart Wealth LLC
Virginia
$19K – – –
FFA
162
Founders Financial Alliance
North Carolina
$18K – – –
RCA
163
Ranch Capital Advisors
Florida
$18K – – –
CFD
164
Creative Financial Designs
Indiana
$16K +$80 +3 +0.5%
WB
165
Webster Bank
Connecticut
$14K +$13.8K +517 New
VBCG
166
Valley Brook Capital Group
Pennsylvania
$13K +$13.4K +500 New
TFA
167
Transamerica Financial Advisors
Florida
$12K +$294 +11 +3%
VRM
168
Vectors Research Management
New York
$11K +$11.1K +416 New
CFA
169
Carroll Financial Associates
North Carolina
$10K – – –
MAM
170
Meeder Asset Management
Ohio
$9K +$8.64K +323 New
RWB
171
RMR Wealth Builders
New Jersey
$9K +$8.7K +325 New
SIS
172
Sound Income Strategies
Florida
$8K – – –
PS
173
Planned Solutions
California
$5K – – –
FA
174
Faithward Advisors
Pennsylvania
$4K – – –
RCM
175
Robinson Capital Management
Michigan
$4K – – –
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.