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Invesco National AMT-Free Municipal Bond ETF

137 hedge funds and large institutions have $924M invested in Invesco National AMT-Free Municipal Bond ETF in 2018 Q4 according to their latest regulatory filings, with 24 funds opening new positions, 41 increasing their positions, 43 reducing their positions, and 20 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more funds holding in top 10

Funds holding in top 10: 12 (+1)

20% more first-time investments, than exits

New positions opened: 24 | Existing positions closed: 20

2% more funds holding

Funds holding: 134137 (+3)

0.29% less ownership

Funds ownership: 60.95%60.66% (-0.29%)

5% less repeat investments, than reductions

Existing positions increased: 41 | Existing positions reduced: 43

7% less capital invested

Capital invested by funds: $993M → $924M (-$69.1M)

Holders
137
Holders Change
+3
Holders Change %
+2.24%
% of All Funds
3.05%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.04%
New
24
Increased
41
Reduced
43
Closed
20
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
$412M -$70.7M -2,864,908 -15%
UBS Group
2
UBS Group
Switzerland
$198M -$16.3M -662,330 -8%
TNBTD
3
Trustmark National Bank Trust Department
Mississippi
$55.5M -$1.22M -49,326 -2%
UBS AM
4
UBS AM
Illinois
$31M -$4.04M -163,813 -12%
Envestnet Asset Management
5
Envestnet Asset Management
Illinois
$22.2M +$17.1M +693,859 +359%
Morgan Stanley
6
Morgan Stanley
New York
$22M -$2.44M -99,067 -10%
Royal Bank of Canada
7
Royal Bank of Canada
Ontario, Canada
$20.8M +$4.94M +200,306 +32%
Jane Street
8
Jane Street
New York
$18.6M -$2.05M -83,181 -10%
AssetMark Inc
9
AssetMark Inc
California
$13.9M -$1.96M -79,493 -12%
Ameriprise
10
Ameriprise
Minnesota
$11.7M -$1.55M -62,745 -12%
LPL Financial
11
LPL Financial
California
$11M -$172K -6,991 -2%
Wells Fargo
12
Wells Fargo
California
$11M -$78.8K -3,193 -0.7%
NS
13
NewDay Solutions
New Hampshire
$8.26M +$8.15M +330,568 New
PNC Financial Services Group
14
PNC Financial Services Group
Pennsylvania
$8.11M +$1.67M +67,828 +26%
LTFS
15
Ladenburg Thalmann Financial Services
Florida
$4.75M -$571K -23,134 -11%
AG
16
Advisor Group
Arizona
$4.3M +$2.21M +89,575 +108%
CCP
17
Cardan Capital Partners
Colorado
$4.16M +$414K +16,765 +11%
Stifel Financial
18
Stifel Financial
Missouri
$3.77M -$153K -6,189 -4%
RJFSA
19
Raymond James Financial Services Advisors
Florida
$3.28M +$1.3M +52,838 +67%
FAAS
20
First Allied Advisory Services
California
$3M +$280K +11,341 +10%
Cambridge Investment Research Advisors
21
Cambridge Investment Research Advisors
Iowa
$2.36M +$1.69M +68,346 +262%
SWRP
22
Summit Wealth & Retirement Planning
California
$2.17M +$2.14M +86,731 New
CB
23
Commerce Bank
Missouri
$2.14M
BCM
24
Brookstone Capital Management
Illinois
$2.11M +$2.09M +84,540 New
Susquehanna International Group
25
Susquehanna International Group
Pennsylvania
$1.96M -$2.81M -114,092 -59%

PZA Hedge Fund Activity: Q4 2018 in Review

137 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in Invesco National AMT-Free Municipal Bond ETF (PZA) for Q4 2018, worth a combined $924M — down 7% from $993M a quarter earlier.

Buyers outnumbered sellers: 24 funds opened new PZA positions and 20 closed out — a net gain of 4 holders — while 41 added to existing stakes and 43 trimmed.

The largest buyer was Envestnet Asset Management, adding an estimated $17.1M. The largest seller was Bank of America, cutting an estimated $70.7M.

  • 137 institutional investors held Invesco National AMT-Free Municipal Bond ETF (PZA) as of Q4 2018, up from 134 in Q3 2018.
  • Funds reported $924M of Invesco National AMT-Free Municipal Bond ETF stock for Q4 2018, down 7% quarter-over-quarter.
  • 24 funds opened new Invesco National AMT-Free Municipal Bond ETF positions in Q4 2018 and 20 closed out, a net change of +4 holders.
  • The largest Invesco National AMT-Free Municipal Bond ETF buyer in Q4 2018 was Envestnet Asset Management, an estimated $17.1M added.
  • The largest Invesco National AMT-Free Municipal Bond ETF seller in Q4 2018 was Bank of America, an estimated $70.7M sold.

Based on aggregated 13F filings for Q4 2018.