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Invesco California Value Municipal Income Trust
VCV

45 hedge funds and large institutions have $45.5M invested in Invesco California Value Municipal Income Trust in 2019 Q1 according to their latest regulatory filings, with 5 funds opening new positions, 15 increasing their positions, 10 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 10

5% more capital invested

Capital invested by funds: $43.5M → $45.5M (+$1.98M)

0.24% less ownership

Funds ownership: 8.05% → 7.81% (-0.24%)

4% less funds holding

Funds holding: 47 → 45 (-2)

29% less first-time investments, than exits

New positions opened: 5 | Existing positions closed: 7

Holders
45
Holders Change
-2
Holders Change %
-4.26%
% of All Funds
0.97%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
5
Increased
15
Reduced
10
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
UBS Group
UBS Group
Switzerland
+$956K
2
FFA
First Foundation Advisors
California
+$820K
3
Morgan Stanley
Morgan Stanley
New York
+$623K
4
AA
Apriem Advisors
California
+$274K
5
Wells Fargo
Wells Fargo
California
+$245K

Top Sellers

Rank Fund Capital Flow
1
RCM
Robinson Capital Management
Michigan
-$1.87M
2
LCM
Landscape Capital Management
New Jersey
-$1.04M
3
Bank of America
Bank of America
North Carolina
-$574K
4
AA
AQR Arbitrage
Connecticut
-$370K
5
GC
Guggenheim Capital
Illinois
-$229K
Name Holding Trade Value Shares
Change 		Change in
Stake
WT
26
Whittier Trust
California
$245K – – –
LPL Financial
27
LPL Financial
California
$215K -$25.9K -2,161 -11%
Stifel Financial
28
Stifel Financial
Missouri
$203K -$120 -10 -0.1%
First Trust Advisors
29
First Trust Advisors
Illinois
$180K +$1.2K +100 +0.7%
HCM
30
Hollencrest Capital Management
California
$176K +$336 +28 +0.2%
LWAC
31
Laurel Wealth Advisors (California)
California
$174K -$17.4K -1,448 -9%
Bank of New York Mellon
32
Bank of New York Mellon
New York
$158K – – –
OC
33
Oppenheimer & Co
New York
$153K +$1.91K +159 +1%
RJA
34
Raymond James & Associates
Florida
$146K +$144K +12,004 New
GSWM
35
Golden State Wealth Management
California
$142K +$140K +11,683 New
VCWA
36
Vanguard Capital Wealth Advisors
Colorado
$127K +$126K +10,500 New
CG
37
Cutler Group
California
$121K – – –
TJHA
38
Thomas J. Herzfeld Advisors
Florida
$73K – – –
MA
39
MUFG Americas
New York
$56K – – –
CFG
40
CKW Financial Group
Hawaii
$48K – – –
US Bancorp
41
US Bancorp
Minnesota
$18K – – –
GAM
42
Gemmer Asset Management
California
$10K +$120 +10 +1%
Northwestern Mutual Wealth Management
43
Northwestern Mutual Wealth Management
Wisconsin
$4K – – –
ACA
44
Ackerman Capital Advisors
Texas
$201 +$198K +16,519 New
GT
45
Glenmede Trust
Pennsylvania
$24 – – –
RCM
46
Robinson Capital Management
Michigan
– -$1.87M -165,729 Closed
AA
47
AQR Arbitrage
Connecticut
– -$370K -32,726 Closed
WAM
48
Wolverine Asset Management
Illinois
– -$180K -15,999 Closed
CCM
49
CWH Capital Management
Washington
– -$122K -10,786 Closed
RCM
50
Rivernorth Capital Management
Florida
– -$114K -10,173 Closed
1
2
3

VCV Hedge Fund Activity: Q1 2019 in Review

45 of the 4,620 institutional investors tracked by Wall St. Rank reported a position in Invesco California Value Municipal Income Trust (VCV) for Q1 2019, worth a combined $45.5M — up 4.6% from $43.5M a quarter earlier.

Sellers outnumbered buyers: 7 funds closed out of VCV and 5 opened new positions — a net loss of 2 holders — while 10 trimmed existing stakes and 15 added.

The largest buyer was UBS Group, adding an estimated $956K. The largest seller was Robinson Capital Management, exiting entirely with an estimated $1.87M sold.

  • 45 institutional investors held Invesco California Value Municipal Income Trust (VCV) as of Q1 2019, down from 47 in Q4 2018.
  • Funds reported $45.5M of Invesco California Value Municipal Income Trust stock for Q1 2019, up 4.6% quarter-over-quarter.
  • 5 funds opened new Invesco California Value Municipal Income Trust positions in Q1 2019 and 7 closed out, a net change of -2 holders.
  • The largest Invesco California Value Municipal Income Trust buyer in Q1 2019 was UBS Group, an estimated $956K added.
  • The largest Invesco California Value Municipal Income Trust seller in Q1 2019 was Robinson Capital Management, an estimated $1.87M sold.

Based on aggregated 13F filings for Q1 2019.