Invesco National AMT-Free Municipal Bond ETF
PZA
203 hedge funds and large institutions have $1.77B invested in Invesco National AMT-Free Municipal Bond ETF in 2023 Q4 according to their latest regulatory filings, with 43 funds opening new positions, 63 increasing their positions, 65 reducing their positions, and 27 closing their positions.
59% more first-time investments, than exits
New positions opened: 43 | Existing positions closed: 27
26% more capital invested
Capital invested by funds: $1.4B → $1.77B (+$364M)
8% more funds holding
Funds holding: 188 → 203 (+15)
3.4% more ownership
Funds ownership: 64.36% → 67.76% (+3.4%)
3% less repeat investments, than reductions
Existing positions increased: 63 | Existing positions reduced: 65
33% less funds holding in top 10
Funds holding in top 10: 3 → 2 (-1)
71% less call options, than puts
Call options by funds: $58K | Put options by funds: $203K
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
+$104M |
| 2 |
Morgan Stanley
New York
|
+$40M |
| 3 |
OPAM
Ocean Park Asset Management
Santa Monica,
California
|
+$29.1M |
| 4 |
EWA
EP Wealth Advisors
Torrance,
California
|
+$15.1M |
| 5 |
1WM
1900 Wealth Management
San Antonio,
Texas
|
+$15M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$34.1M |
| 2 |
LPL Financial
San Diego,
California
|
-$12.3M |
| 3 |
ACA
Ackerman Capital Advisors
Dallas,
Texas
|
-$11.7M |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$6.13M |
| 5 |
Osaic Holdings
Scottsdale,
Arizona
|
-$3.6M |
PZA Hedge Fund Activity: Q4 2023 in Review
203 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in Invesco National AMT-Free Municipal Bond ETF (PZA) for Q4 2023, worth a combined $1.77B — up 26% from $1.4B a quarter earlier.
Buyers outnumbered sellers: 43 funds opened new PZA positions and 27 closed out — a net gain of 16 holders — while 63 added to existing stakes and 65 trimmed.
The largest buyer was Bank of America, adding an estimated $104M. The largest seller was Jane Street, exiting entirely with an estimated $34.1M sold.
- 203 institutional investors held Invesco National AMT-Free Municipal Bond ETF (PZA) as of Q4 2023, up from 188 in Q3 2023.
- Funds reported $1.77B of Invesco National AMT-Free Municipal Bond ETF stock for Q4 2023, up 26% quarter-over-quarter.
- 43 funds opened new Invesco National AMT-Free Municipal Bond ETF positions in Q4 2023 and 27 closed out, a net change of +16 holders.
- The largest Invesco National AMT-Free Municipal Bond ETF buyer in Q4 2023 was Bank of America, an estimated $104M added.
- The largest Invesco National AMT-Free Municipal Bond ETF seller in Q4 2023 was Jane Street, an estimated $34.1M sold.
Based on aggregated 13F filings for Q4 2023.