Invesco National AMT-Free Municipal Bond ETF
324 hedge funds and large institutions have $3.8B invested in Invesco National AMT-Free Municipal Bond ETF in 2026 Q2 according to their latest regulatory filings, with 52 funds opening new positions, 151 increasing their positions, 74 reducing their positions, and 15 closing their positions.
247% more first-time investments, than exits
New positions opened: 52 | Existing positions closed: 15
104% more repeat investments, than reductions
Existing positions increased: 151 | Existing positions reduced: 74
39% more call options, than puts
Call options by funds: $1.02M | Put options by funds: $739K
10% more funds holding
Funds holding: 294 → 324 (+30)
9% more capital invested
Capital invested by funds: $3.47B → $3.8B (+$325M)
0% more funds holding in top 10
Funds holding in top 10: 4 → 4 (0)
0.38% less ownership
Funds ownership: 89.57% → 89.19% (-0.38%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of America
Charlotte,
North Carolina
|
+$76.8M |
| 2 |
UBS Group
Zurich,
Switzerland
|
+$68.4M |
| 3 |
AAP
Arax Advisory Partners
Denver,
Colorado
|
+$42.2M |
| 4 |
VAS
Vestmark Advisory Solutions
Wakefield,
Massachusetts
|
+$34.9M |
| 5 |
LPL Financial
San Diego,
California
|
+$20.2M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS AM
Chicago,
Illinois
|
-$44.1M |
| 2 |
Goldman Sachs
New York
|
-$8.96M |
| 3 |
Jane Street
New York
|
-$7.53M |
| 4 |
IAA
Independent Advisor Alliance
Charlotte,
North Carolina
|
-$6.22M |
| 5 |
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
|
-$3.94M |
PZA Hedge Fund Activity: Q2 2026 in Review
324 of the 8,349 institutional investors tracked by Wall St. Rank reported a position in Invesco National AMT-Free Municipal Bond ETF (PZA) for Q2 2026, worth a combined $3.8B — up 9.4% from $3.47B a quarter earlier.
Buyers outnumbered sellers: 52 funds opened new PZA positions and 15 closed out — a net gain of 37 holders — while 151 added to existing stakes and 74 trimmed.
The largest buyer was Bank of America, adding an estimated $76.8M. The largest seller was UBS AM, cutting an estimated $44.1M.
- 324 institutional investors held Invesco National AMT-Free Municipal Bond ETF (PZA) as of Q2 2026, up from 294 in Q1 2026.
- Funds reported $3.8B of Invesco National AMT-Free Municipal Bond ETF stock for Q2 2026, up 9.4% quarter-over-quarter.
- 52 funds opened new Invesco National AMT-Free Municipal Bond ETF positions in Q2 2026 and 15 closed out, a net change of +37 holders.
- The largest Invesco National AMT-Free Municipal Bond ETF buyer in Q2 2026 was Bank of America, an estimated $76.8M added.
- The largest Invesco National AMT-Free Municipal Bond ETF seller in Q2 2026 was UBS AM, an estimated $44.1M sold.
Based on aggregated 13F filings for Q2 2026.