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Invesco National AMT-Free Municipal Bond ETF

104 hedge funds and large institutions have $810M invested in Invesco National AMT-Free Municipal Bond ETF in 2017 Q1 according to their latest regulatory filings, with 14 funds opening new positions, 41 increasing their positions, 28 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

56% more first-time investments, than exits

New positions opened: 14 | Existing positions closed: 9

46% more repeat investments, than reductions

Existing positions increased: 41 | Existing positions reduced: 28

23% more capital invested

Capital invested by funds: $659M → $810M (+$151M)

4% more funds holding

Funds holding: 100104 (+4)

3.96% more ownership

Funds ownership: 52.61%56.57% (+4%)

0% more funds holding in top 10

Funds holding in top 10: 11 (0)

Holders
104
Holders Change
+4
Holders Change %
+4%
% of All Funds
2.59%
Holding in Top 10
1
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
0.02%
New
14
Increased
41
Reduced
28
Closed
9
Calls
Puts
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
Bank of America
1
Bank of America
North Carolina
$419M +$61.8M +2,469,859 +17%
UBS Group
2
UBS Group
Switzerland
$138M +$37.7M +1,506,136 +38%
TNBTD
3
Trustmark National Bank Trust Department
Mississippi
$45.4M +$4.38M +175,226 +11%
UBS AM
4
UBS AM
Illinois
$27.4M +$26.4M +1,054,584 +2,598%
Morgan Stanley
5
Morgan Stanley
New York
$25.4M +$788K +31,488 +3%
LPL Financial
6
LPL Financial
California
$23.1M +$1.56M +62,263 +7%
AssetMark Inc
7
AssetMark Inc
California
$15.2M +$3.65M +146,046 +32%
Wells Fargo
8
Wells Fargo
California
$11.8M +$65.5K +2,617 +0.6%
Jane Street
9
Jane Street
New York
$9.37M +$7.82M +312,505 +507%
Ameriprise
10
Ameriprise
Minnesota
$7.9M +$5.48K +219 +0.1%
BCM
11
Brookstone Capital Management
Illinois
$7.51M +$7.5M +299,938 New
Envestnet Asset Management
12
Envestnet Asset Management
Illinois
$7.1M +$3.79M +151,669 +115%
Citadel Advisors
13
Citadel Advisors
Florida
$4.97M +$3.9M +156,118 +369%
CCP
14
Cardan Capital Partners
Colorado
$4.56M +$227K +9,073 +5%
Royal Bank of Canada
15
Royal Bank of Canada
Ontario, Canada
$4.22M -$3.26M -130,217 -44%
LTFS
16
Ladenburg Thalmann Financial Services
Florida
$3.89M -$363K -14,509 -9%
Stifel Financial
17
Stifel Financial
Missouri
$3.24M +$57.5K +2,298 +2%
FAAS
18
First Allied Advisory Services
California
$2.97M +$445K +17,807 +18%
RJA
19
Raymond James & Associates
Florida
$2.87M +$565K +22,587 +25%
TFA
20
Transamerica Financial Advisors
Florida
$2.84M -$116K -4,629 -4%
AG
21
Advisor Group
Arizona
$2.55M +$330K +13,180 +15%
CB
22
Commerce Bank
Missouri
$2.26M -$10K -400 -0.4%
RJFSA
23
Raymond James Financial Services Advisors
Florida
$2.02M -$6.65K -266 -0.3%
Baird Financial Group
24
Baird Financial Group
Wisconsin
$1.88M -$1.03M -41,351 -36%
Cambridge Investment Research Advisors
25
Cambridge Investment Research Advisors
Iowa
$1.59M +$1.02M +40,699 +179%

PZA Hedge Fund Activity: Q1 2017 in Review

104 of the 4,017 institutional investors tracked by Wall St. Rank reported a position in Invesco National AMT-Free Municipal Bond ETF (PZA) for Q1 2017, worth a combined $810M — up 23% from $659M a quarter earlier.

Buyers outnumbered sellers: 14 funds opened new PZA positions and 9 closed out — a net gain of 5 holders — while 41 added to existing stakes and 28 trimmed.

The largest buyer was Bank of America, adding an estimated $61.8M. The largest seller was Susquehanna International Group, cutting an estimated $10.2M.

  • 104 institutional investors held Invesco National AMT-Free Municipal Bond ETF (PZA) as of Q1 2017, up from 100 in Q4 2016.
  • Funds reported $810M of Invesco National AMT-Free Municipal Bond ETF stock for Q1 2017, up 23% quarter-over-quarter.
  • 14 funds opened new Invesco National AMT-Free Municipal Bond ETF positions in Q1 2017 and 9 closed out, a net change of +5 holders.
  • The largest Invesco National AMT-Free Municipal Bond ETF buyer in Q1 2017 was Bank of America, an estimated $61.8M added.
  • The largest Invesco National AMT-Free Municipal Bond ETF seller in Q1 2017 was Susquehanna International Group, an estimated $10.2M sold.

Based on aggregated 13F filings for Q1 2017.