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Invesco National AMT-Free Municipal Bond ETF
PZA

197 hedge funds and large institutions have $1.25B invested in Invesco National AMT-Free Municipal Bond ETF in 2022 Q1 according to their latest regulatory filings, with 27 funds opening new positions, 65 increasing their positions, 67 reducing their positions, and 38 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

1.43% more ownership

Funds ownership: 54.43% → 55.86% (+1.4%)

3% less repeat investments, than reductions

Existing positions increased: 65 | Existing positions reduced: 67

7% less funds holding

Funds holding: 211 → 197 (-14)

11% less capital invested

Capital invested by funds: $1.4B → $1.25B (-$155M)

29% less first-time investments, than exits

New positions opened: 27 | Existing positions closed: 38

Holders
197
Holders Change
-14
Holders Change %
-6.64%
% of All Funds
3.11%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.03%
New
27
Increased
65
Reduced
67
Closed
38
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$17.3M
2
CS
Comerica Securities
Michigan
+$7.83M
3
1WM
1900 Wealth Management
Texas
+$6.3M
4
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$5.89M
5
Jane Street
Jane Street
New York
+$5.83M

Top Sellers

Rank Fund Capital Flow
1
Bank of America
Bank of America
North Carolina
-$95.4M
2
FTS
Fifth Third Securities
Ohio
-$4.11M
3
EF
Empowered Funds
Pennsylvania
-$3.63M
4
Morgan Stanley
Morgan Stanley
New York
-$3.48M
5
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$2.62M
Name Holding Trade Value Shares
Change 		Change in
Stake
IWP
176
IAG Wealth Partners
Wisconsin
$27K -$28K -1,076 -50%
Franklin Resources
177
Franklin Resources
California
$25K – – –
AWM
178
Atticus Wealth Management
Florida
$25K +$26.1K +1,002 New
VCM
179
Vigilant Capital Management
Maine
$25K +$26.2K +1,006 New
Fifth Third Bancorp
180
Fifth Third Bancorp
Ohio
$23K – – –
BWL
181
Bogart Wealth LLC
Virginia
$21K +$104 +4 +0.5%
FFA
182
Founders Financial Alliance
North Carolina
$16K – – –
AF
183
Advisornet Financial
Minnesota
$15K – – –
CFD
184
Creative Financial Designs
Indiana
$15K +$78 +3 +0.5%
LS
185
Leelyn Smith
Illinois
$15K +$7.62K +293 +97%
TFA
186
Transamerica Financial Advisors
Florida
$12K +$156 +6 +1%
RCM
187
Robinson Capital Management
Michigan
$11K – – –
MAM
188
Meeder Asset Management
Ohio
$10K – – –
EC
189
Elequin Capital
New York
$10K +$10.7K +411 New
NFSG
190
Newbridge Financial Services Group
Florida
$8K – – –
SIS
191
Sound Income Strategies
Florida
$7K – – –
Northern Trust
192
Northern Trust
Illinois
$6K +$340K +13,094 +117%
CT
193
Caldwell Trust
Florida
$5.04K – – –
FA
194
Faithward Advisors
Pennsylvania
$4K – – –
HWMA
195
Heritage Wealth Management (Arizona)
Arizona
$4K +$4.19K +161 New
CMA
196
Cedar Mountain Advisors
Oregon
$2K +$2.52K +97 New
GWMIA
197
Global Wealth Management Investment Advisory
Florida
$1K – – –
LWA
198
Lowe Wealth Advisors
Maryland
$1K – – –
FTS
199
Fifth Third Securities
Ohio
– -$4.11M -151,499 Closed
EF
200
Empowered Funds
Pennsylvania
– -$3.63M -133,941 Closed
6 7
8
9 10

PZA Hedge Fund Activity: Q1 2022 in Review

197 of the 6,340 institutional investors tracked by Wall St. Rank reported a position in Invesco National AMT-Free Municipal Bond ETF (PZA) for Q1 2022, worth a combined $1.25B — down 11% from $1.4B a quarter earlier.

Sellers outnumbered buyers: 38 funds closed out of PZA and 27 opened new positions — a net loss of 11 holders — while 67 trimmed existing stakes and 65 added.

The largest buyer was Envestnet Asset Management, adding an estimated $17.3M. The largest seller was Bank of America, cutting an estimated $95.4M.

  • 197 institutional investors held Invesco National AMT-Free Municipal Bond ETF (PZA) as of Q1 2022, down from 211 in Q4 2021.
  • Funds reported $1.25B of Invesco National AMT-Free Municipal Bond ETF stock for Q1 2022, down 11% quarter-over-quarter.
  • 27 funds opened new Invesco National AMT-Free Municipal Bond ETF positions in Q1 2022 and 38 closed out, a net change of -11 holders.
  • The largest Invesco National AMT-Free Municipal Bond ETF buyer in Q1 2022 was Envestnet Asset Management, an estimated $17.3M added.
  • The largest Invesco National AMT-Free Municipal Bond ETF seller in Q1 2022 was Bank of America, an estimated $95.4M sold.

Based on aggregated 13F filings for Q1 2022.