Invesco National AMT-Free Municipal Bond ETF
69 hedge funds and large institutions have $195M invested in Invesco National AMT-Free Municipal Bond ETF in 2013 Q3 according to their latest regulatory filings, with 13 funds opening new positions, 14 increasing their positions, 34 reducing their positions, and 6 closing their positions.
117% more first-time investments, than exits
New positions opened: 13 | Existing positions closed: 6
8% more funds holding
Funds holding: 64 → 69 (+5)
7.7% less ownership
Funds ownership: 39.91% → 32.22% (-7.7%)
41% less capital invested
Capital invested by funds: $329M → $195M (-$134M)
59% less repeat investments, than reductions
Existing positions increased: 14 | Existing positions reduced: 34
100% less funds holding in top 10
Funds holding in top 10: 2 → 0 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FAAS
First Allied Advisory Services
San Diego,
California
|
+$3.52M |
| 2 |
TIM
Tortoise Investment Management
White Plains,
New York
|
+$3.15M |
| 3 |
Citigroup
New York
|
+$1.34M |
| 4 |
Jane Street
New York
|
+$1.3M |
| 5 |
CI
Cambiar Investors
Denver,
Colorado
|
+$1.03M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
-$55.6M |
| 2 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$51.1M |
| 3 |
Morgan Stanley
New York
|
-$5.77M |
| 4 |
ACM
Ashford Capital Management
Wilmington,
Delaware
|
-$5.75M |
| 5 |
LPL Financial
San Diego,
California
|
-$3.88M |
PZA Hedge Fund Activity: Q3 2013 in Review
69 of the 3,096 institutional investors tracked by Wall St. Rank reported a position in Invesco National AMT-Free Municipal Bond ETF (PZA) for Q3 2013, worth a combined $195M — down 41% from $329M a quarter earlier.
Buyers outnumbered sellers: 13 funds opened new PZA positions and 6 closed out — a net gain of 7 holders — while 14 added to existing stakes and 34 trimmed.
The largest buyer was First Allied Advisory Services, adding an estimated $3.52M. The largest seller was Bank of America, cutting an estimated $55.6M.
- 69 institutional investors held Invesco National AMT-Free Municipal Bond ETF (PZA) as of Q3 2013, up from 64 in Q2 2013.
- Funds reported $195M of Invesco National AMT-Free Municipal Bond ETF stock for Q3 2013, down 41% quarter-over-quarter.
- 13 funds opened new Invesco National AMT-Free Municipal Bond ETF positions in Q3 2013 and 6 closed out, a net change of +7 holders.
- The largest Invesco National AMT-Free Municipal Bond ETF buyer in Q3 2013 was First Allied Advisory Services, an estimated $3.52M added.
- The largest Invesco National AMT-Free Municipal Bond ETF seller in Q3 2013 was Bank of America, an estimated $55.6M sold.
Based on aggregated 13F filings for Q3 2013.