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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
GWMIA
176
Global Wealth Management Investment Advisory
Florida
$1K – – –
LWA
177
Lowe Wealth Advisors
Maryland
$1K – – –
TI
178
tru Independence
Oregon
$521 +$580K +21,688 New
RBA
179
Richard Bernstein Advisors
New York
– -$196M -7,362,600 Closed
MSL
180
Mackay Shields LLC
New York
– -$146M -5,500,000 Closed
VWM
181
Venturi Wealth Management
Texas
– -$1.16M -43,468 Closed
CPO
182
Cerity Partners OCIO
New York
– -$296K -11,107 Closed
FA
183
FDx Advisors
Illinois
– -$282K -10,603 Closed
BRWM
184
B. Riley Wealth Management
Tennessee
– -$266K -9,989 Closed
GT
185
Glenview Trust
Kentucky
– -$256K -9,618 Closed
JWCA
186
J.W. Cole Advisors
Florida
– -$246K -9,245 Closed
AWM
187
Apollon Wealth Management
South Carolina
– -$246K -9,220 Closed
TC
188
Telemus Capital
Michigan
– -$229K -8,638 Closed
ML
189
McAdam LLC
Pennsylvania
– -$201K -7,539 Closed
NNP
190
Nachman Norwood & Parrott
South Carolina
– -$108K -4,064 Closed
ZB
191
Zions Bancorporation
Utah
– -$70K -2,618 Closed
PFS
192
Prospera Financial Services
Texas
– -$63K -2,369 Closed
CSPIA
193
Cary Street Partners Investment Advisory
Virginia
– -$24K -900 Closed
IFAM
194
Institutional & Family Asset Management
Colorado
– -$17K -652 Closed
FHA
195
Flagship Harbor Advisors
Massachusetts
– -$17K -650 Closed
Bessemer Group
196
Bessemer Group
New Jersey
– -$16K -600 Closed
S
197
SignatureFD
Georgia
– -$13K -476 Closed
LS
198
Leelyn Smith
Illinois
– -$10K -366 Closed
F
199
F3Logic
Minnesota
– -$2.24K -84 Closed
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.