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Invesco National AMT-Free Municipal Bond ETF

83 hedge funds and large institutions have $419M invested in Invesco National AMT-Free Municipal Bond ETF in 2015 Q1 according to their latest regulatory filings, with 12 funds opening new positions, 32 increasing their positions, 23 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

368% more call options, than puts

Call options by funds: $1.39M | Put options by funds: $296K

100% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 6

39% more repeat investments, than reductions

Existing positions increased: 32 | Existing positions reduced: 23

5% more funds holding

Funds holding: 7983 (+4)

5% more capital invested

Capital invested by funds: $400M → $419M (+$18.8M)

0.37% less ownership

Funds ownership: 42.6%42.23% (-0.37%)

50% less funds holding in top 10

Funds holding in top 10: 21 (-1)

Holders
83
Holders Change
+4
Holders Change %
+5.06%
% of All Funds
2.21%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.03%
New
12
Increased
32
Reduced
23
Closed
6
Calls
$1.39M
Puts
$296K
Net Calls
+$1.09M
Net Calls Change
+$996K
Name Holding Trade Value Shares
Change
Change in
Stake
Bank of America
1
Bank of America
North Carolina
$101M +$5.7M +223,062 +6%
MAA
2
Managed Account Advisors
New Jersey
$53.8M +$23.7M +928,231 +79%
BTS
3
BB&T Securities
Virginia
$42.4M -$1.46M -57,020 -26%
UBS Group
4
UBS Group
Switzerland
$40.6M +$12.8M +498,969 +46%
Wells Fargo
5
Wells Fargo
California
$30.3M +$3.6M +140,697 +13%
Morgan Stanley
6
Morgan Stanley
New York
$24.2M +$1.25M +48,745 +5%
TNBTD
7
Trustmark National Bank Trust Department
Mississippi
$22.1M +$4.9M +191,579 +28%
AssetMark Inc
8
AssetMark Inc
California
$11.7M +$767K +30,016 +7%
UBS AM
9
UBS AM
Illinois
$9.96M
ACM
10
Ashford Capital Management
Delaware
$8.81M -$2.22M -86,796 -20%
LPL Financial
11
LPL Financial
California
$6.36M +$736K +28,811 +13%
FAAM
12
First Allied Asset Management
California
$6.24M -$283K -11,066 -4%
Stifel Financial
13
Stifel Financial
Missouri
$5.93M -$917K -35,881 -13%
Ameriprise
14
Ameriprise
Minnesota
$4.94M +$1.12M +43,779 +29%
TFA
15
Transamerica Financial Advisors
Florida
$4.74M -$94.5K -3,697 -2%
B
16
Baird
Wisconsin
$4.28M +$52.1K +2,037 +1%
LTFS
17
Ladenburg Thalmann Financial Services
Florida
$2.78M +$303K +11,844 +12%
RJA
18
Raymond James & Associates
Florida
$2.76M +$24.9K +974 +0.9%
Envestnet Asset Management
19
Envestnet Asset Management
Illinois
$2.69M +$2.15M +83,935 +393%
CB
20
Commerce Bank
Missouri
$2.54M -$108K -4,228 -4%
TIM
21
Tortoise Investment Management
New York
$2.45M -$730K -28,550 -23%
Royal Bank of Canada
22
Royal Bank of Canada
Ontario, Canada
$2.2M -$401K -15,693 -15%
GC
23
Guggenheim Capital
Illinois
$2.06M -$325K -12,702 -14%
Commonwealth Equity Services
24
Commonwealth Equity Services
Massachusetts
$1.77M -$449K -17,550 -20%
DADC
25
D.A. Davidson & Co
Montana
$1.4M +$7.03K +275 +0.5%

PZA Hedge Fund Activity: Q1 2015 in Review

83 of the 3,753 institutional investors tracked by Wall St. Rank reported a position in Invesco National AMT-Free Municipal Bond ETF (PZA) for Q1 2015, worth a combined $419M — up 4.7% from $400M a quarter earlier.

Buyers outnumbered sellers: 12 funds opened new PZA positions and 6 closed out — a net gain of 6 holders — while 32 added to existing stakes and 23 trimmed.

The largest buyer was Managed Account Advisors, adding an estimated $23.7M. The largest seller was Cerity Partners OCIO, cutting an estimated $19.3M.

  • 83 institutional investors held Invesco National AMT-Free Municipal Bond ETF (PZA) as of Q1 2015, up from 79 in Q4 2014.
  • Funds reported $419M of Invesco National AMT-Free Municipal Bond ETF stock for Q1 2015, up 4.7% quarter-over-quarter.
  • 12 funds opened new Invesco National AMT-Free Municipal Bond ETF positions in Q1 2015 and 6 closed out, a net change of +6 holders.
  • The largest Invesco National AMT-Free Municipal Bond ETF buyer in Q1 2015 was Managed Account Advisors, an estimated $23.7M added.
  • The largest Invesco National AMT-Free Municipal Bond ETF seller in Q1 2015 was Cerity Partners OCIO, an estimated $19.3M sold.

Based on aggregated 13F filings for Q1 2015.