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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
LWA
176
Lowe Wealth Advisors
Maryland
$1K – – –
GWMIA
177
Global Wealth Management Investment Advisory
Florida
$1K +$1.43K +54 New
LS
178
Leelyn Smith
Illinois
$25 +$25.1K +949 New
UBS AM
179
UBS AM
Illinois
– -$46.9M -1,767,747 Closed
PWG
180
Private Wealth Group
Florida
– -$10.2M -382,831 Closed
BWCS
181
Beirne Wealth Consulting Services
Connecticut
– -$488K -18,388 Closed
OMC
182
Old Mission Capital
Illinois
– -$393K -14,822 Closed
MWM
183
Meridian Wealth Management
Kentucky
– -$301K -11,341 Closed
CPO
184
Cerity Partners OCIO
New York
– -$207K -7,803 Closed
Millennium Management
185
Millennium Management
New York
– -$205K -7,734 Closed
PMFA
186
Plante Moran Financial Advisors
Michigan
– -$114K -4,302 Closed
TC
187
Truvestments Capital
Florida
– -$84K -3,165 Closed
CAPTRUST Financial Advisors
188
CAPTRUST Financial Advisors
North Carolina
– -$50K -1,900 Closed
KWA
189
KCS Wealth Advisory
California
– -$16.2K -612 Closed
4 5 6 7
8

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.