Invesco National AMT-Free Municipal Bond ETF
PZA
66 hedge funds and large institutions have $197M invested in Invesco National AMT-Free Municipal Bond ETF in 2014 Q1 according to their latest regulatory filings, with 8 funds opening new positions, 30 increasing their positions, 20 reducing their positions, and 6 closing their positions.
50% more repeat investments, than reductions
Existing positions increased: 30 | Existing positions reduced: 20
33% more first-time investments, than exits
New positions opened: 8 | Existing positions closed: 6
15% more capital invested
Capital invested by funds: $171M → $197M (+$26.4M)
3% more funds holding
Funds holding: 64 → 66 (+2)
2.77% more ownership
Funds ownership: 29.91% → 32.68% (+2.8%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ACM
Ashford Capital Management
Wilmington,
Delaware
|
+$6.39M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
+$6.38M |
| 3 |
AssetMark Inc
Concord,
California
|
+$1.77M |
| 4 |
FAAM
First Allied Asset Management
San Diego,
California
|
+$1.43M |
| 5 |
U
UBS
Zurich,
Switzerland
|
+$1.27M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Invesco
Atlanta,
Georgia
|
-$1.34M |
| 2 |
Citigroup
New York
|
-$1.23M |
| 3 |
RCM
Rotella Capital Management
Bellevue,
Washington
|
-$778K |
| 4 |
FBFS
First Business Financial Services
Madison,
Wisconsin
|
-$768K |
| 5 |
PAS
Partnervest Advisory Services
Santa Barbara,
California
|
-$750K |
PZA Hedge Fund Activity: Q1 2014 in Review
66 of the 3,475 institutional investors tracked by Wall St. Rank reported a position in Invesco National AMT-Free Municipal Bond ETF (PZA) for Q1 2014, worth a combined $197M — up 15% from $171M a quarter earlier.
Buyers outnumbered sellers: 8 funds opened new PZA positions and 6 closed out — a net gain of 2 holders — while 30 added to existing stakes and 20 trimmed.
The largest buyer was Ashford Capital Management, adding an estimated $6.39M. The largest seller was Invesco, cutting an estimated $1.34M.
- 66 institutional investors held Invesco National AMT-Free Municipal Bond ETF (PZA) as of Q1 2014, up from 64 in Q4 2013.
- Funds reported $197M of Invesco National AMT-Free Municipal Bond ETF stock for Q1 2014, up 15% quarter-over-quarter.
- 8 funds opened new Invesco National AMT-Free Municipal Bond ETF positions in Q1 2014 and 6 closed out, a net change of +2 holders.
- The largest Invesco National AMT-Free Municipal Bond ETF buyer in Q1 2014 was Ashford Capital Management, an estimated $6.39M added.
- The largest Invesco National AMT-Free Municipal Bond ETF seller in Q1 2014 was Invesco, an estimated $1.34M sold.
Based on aggregated 13F filings for Q1 2014.