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Invesco Trust Investment Grade Municipals
VGM

66 hedge funds and large institutions have $60.4M invested in Invesco Trust Investment Grade Municipals in 2015 Q2 according to their latest regulatory filings, with 11 funds opening new positions, 18 increasing their positions, 11 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

64% more repeat investments, than reductions

Existing positions increased: 18 | Existing positions reduced: 11

10% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 10

0.02% more ownership

Funds ownership: 8.9% → 8.92% (+0.02%)

0% more funds holding

Funds holding: 66 → 66 (0)

12% less capital invested

Capital invested by funds: $68.6M → $60.4M (-$8.18M)

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
66
Holders Change
–
Holders Change %
0%
% of All Funds
1.78%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
11
Increased
18
Reduced
11
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$1.99M
2
GC
Guggenheim Capital
Illinois
+$1.42M
3
SIA
Sit Investment Associates
Minnesota
+$935K
4
Wells Fargo
Wells Fargo
California
+$508K
5
LCM
Landscape Capital Management
New Jersey
+$482K

Top Sellers

Rank Fund Capital Flow
1
Deutsche Bank
Deutsche Bank
Germany
-$3.56M
2
AA
AQR Arbitrage
Connecticut
-$706K
3
DA
Doliver Advisors
Texas
-$686K
4
LSA
Liberty Street Advisors
New York
-$537K
5
RJA
Raymond James & Associates
Florida
-$519K
Name Holding Trade Value Shares
Change 		Change in
Stake
AIM
26
Allen Investment Management
New York
$330K +$340K +26,004 New
WFI
27
West Family Investments
California
$310K – – –
AWA
28
ARS Wealth Advisors
Florida
$270K – – –
VKH
29
Virtu KCG Holdings
New York
$269K +$277K +21,162 New
PNC Financial Services Group
30
PNC Financial Services Group
Pennsylvania
$267K -$15.7K -1,200 -5%
BBA
31
BLB&B Advisors
Pennsylvania
$265K +$5.23K +400 +2%
Citigroup
32
Citigroup
New York
$263K +$41.9K +3,200 +18%
TCT
33
TIAA CREF Trust
Missouri
$261K +$269K +20,583 New
CFB
34
Cullen/Frost Bankers
Texas
$254K +$262K +20,000 New
HighTower Advisors
35
HighTower Advisors
Illinois
$234K +$106K +8,100 +78%
Cambridge Investment Research Advisors
36
Cambridge Investment Research Advisors
Iowa
$231K +$288 +22 +0.1%
MG
37
Mather Group
Illinois
$225K – – –
Commonwealth Equity Services
38
Commonwealth Equity Services
Massachusetts
$224K +$889 +68 +0.4%
RJT
39
Raymond James Trust
Florida
$224K +$34.6K +2,647 +18%
OC
40
Oppenheimer & Co
New York
$184K -$85.1K -6,506 -31%
CCB
41
Cutter & Co Brokerage
Missouri
$160K – – –
HCM
42
Hollencrest Capital Management
California
$137K – – –
WS
43
Wedbush Securities
California
$136K +$140K +10,700 New
Bank of Montreal
44
Bank of Montreal
Ontario, Canada
$113K – – –
Royal Bank of Canada
45
Royal Bank of Canada
Ontario, Canada
$93K +$28.9K +2,209 +43%
US Bancorp
46
US Bancorp
Minnesota
$81K – – –
PCM
47
Prelude Capital Management
New York
$76K +$78.5K +6,000 New
EWM
48
Evercore Wealth Management
New York
$45K – – –
CTC
49
Central Trust Company
Missouri
$32K +$32.8K +2,507 New
MFS
50
MSI Financial Services
Massachusetts
$31K -$63.8K -4,877 -66%
1
2
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VGM Hedge Fund Activity: Q2 2015 in Review

66 of the 3,711 institutional investors tracked by Wall St. Rank reported a position in Invesco Trust Investment Grade Municipals (VGM) for Q2 2015, worth a combined $60.4M — down 12% from $68.6M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new VGM positions and 10 closed out — a net gain of 1 holder — while 18 added to existing stakes and 11 trimmed.

The largest buyer was Karpus Investment Management, adding an estimated $1.99M. The largest seller was Deutsche Bank, cutting an estimated $3.56M.

  • 66 institutional investors held Invesco Trust Investment Grade Municipals (VGM) as of Q2 2015, unchanged from Q1 2015.
  • Funds reported $60.4M of Invesco Trust Investment Grade Municipals stock for Q2 2015, down 12% quarter-over-quarter.
  • 11 funds opened new Invesco Trust Investment Grade Municipals positions in Q2 2015 and 10 closed out, a net change of +1 holder.
  • The largest Invesco Trust Investment Grade Municipals buyer in Q2 2015 was Karpus Investment Management, an estimated $1.99M added.
  • The largest Invesco Trust Investment Grade Municipals seller in Q2 2015 was Deutsche Bank, an estimated $3.56M sold.

Based on aggregated 13F filings for Q2 2015.