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Invesco Trust Investment Grade Municipals
VGM

87 hedge funds and large institutions have $77M invested in Invesco Trust Investment Grade Municipals in 2016 Q4 according to their latest regulatory filings, with 23 funds opening new positions, 25 increasing their positions, 15 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

156% more first-time investments, than exits

New positions opened: 23 | Existing positions closed: 9

67% more repeat investments, than reductions

Existing positions increased: 25 | Existing positions reduced: 15

18% more funds holding

Funds holding: 74 → 87 (+13)

6% more capital invested

Capital invested by funds: $72.6M → $77M (+$4.33M)

1.75% more ownership

Funds ownership: 9.45% → 11.2% (+1.7%)

Holders
87
Holders Change
+13
Holders Change %
+17.57%
% of All Funds
2.17%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.03%
New
23
Increased
25
Reduced
15
Closed
9
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
+$3.29M
2
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
+$3.08M
3
SIA
Sit Investment Associates
Minnesota
+$2.19M
4
Morgan Stanley
Morgan Stanley
New York
+$1.52M
5
LCM
Landscape Capital Management
New Jersey
+$1.07M

Top Sellers

Rank Fund Capital Flow
1
GC
Guggenheim Capital
Illinois
-$2.75M
2
Baird Financial Group
Baird Financial Group
Wisconsin
-$2.01M
3
DA
Doliver Advisors
Texas
-$1.2M
4
VanEck Associates
VanEck Associates
New York
-$695K
5
CRC
Curi RMB Capital
Illinois
-$431K
Name Holding Trade Value Shares
Change 		Change in
Stake
First Trust Advisors
26
First Trust Advisors
Illinois
$732K +$117K +8,965 +19%
Bank of America
27
Bank of America
North Carolina
$712K +$31.1K +2,382 +4%
KIM
28
Karpus Investment Management
New York
$705K +$721K +55,263 New
BTS
29
BB&T Securities
Virginia
$539K – – –
SFWA
30
Summit Financial Wealth Advisors
Louisiana
$538K – – –
Squarepoint
31
Squarepoint
New York
$516K +$528K +40,500 New
VKH
32
Virtu KCG Holdings
New York
$488K +$499K +38,265 New
EA
33
Edge Advisors
Georgia
$445K +$456K +34,950 New
KA
34
KLCM Advisors
Wisconsin
$408K +$417K +31,992 New
Citigroup
35
Citigroup
New York
$398K -$121K -9,300 -23%
OC
36
Oppenheimer & Co
New York
$393K +$7.18K +550 +2%
PNC Financial Services Group
37
PNC Financial Services Group
Pennsylvania
$377K – – –
SRC
38
Shufro Rose & Co
New York
$366K +$374K +28,700 New
IA
39
IFP Advisors
Florida
$356K -$131K -10,032 -26%
CIA
40
Capital Investment Advisors
Georgia
$341K +$66.8K +5,120 +24%
EFS
41
Essex Financial Services
Connecticut
$337K +$345K +26,403 New
Baird Financial Group
42
Baird Financial Group
Wisconsin
$334K -$2.01M -154,395 -85%
HCM
43
Hollencrest Capital Management
California
$330K -$82.5K -6,325 -20%
HighTower Advisors
44
HighTower Advisors
Illinois
$304K +$157K +12,035 +103%
AWA
45
ARS Wealth Advisors
Florida
$272K – – –
RJA
46
Raymond James & Associates
Florida
$263K +$2.61K +200 +1%
WAM
47
Weiss Asset Management
Massachusetts
$249K +$255K +19,540 New
BBA
48
BLB&B Advisors
Pennsylvania
$240K +$13 +1 +0%
OFW
49
Omnia Family Wealth
Florida
$240K +$245K +18,796 New
WS
50
Wedbush Securities
California
$201K -$35.2K -2,700 -15%
1
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VGM Hedge Fund Activity: Q4 2016 in Review

87 of the 4,000 institutional investors tracked by Wall St. Rank reported a position in Invesco Trust Investment Grade Municipals (VGM) for Q4 2016, worth a combined $77M — up 6% from $72.6M a quarter earlier.

Buyers outnumbered sellers: 23 funds opened new VGM positions and 9 closed out — a net gain of 14 holders — while 25 added to existing stakes and 15 trimmed.

The largest buyer was Rivernorth Capital Management, opening a new position worth an estimated $3.29M. The largest seller was Guggenheim Capital, cutting an estimated $2.75M.

  • 87 institutional investors held Invesco Trust Investment Grade Municipals (VGM) as of Q4 2016, up from 74 in Q3 2016.
  • Funds reported $77M of Invesco Trust Investment Grade Municipals stock for Q4 2016, up 6% quarter-over-quarter.
  • 23 funds opened new Invesco Trust Investment Grade Municipals positions in Q4 2016 and 9 closed out, a net change of +14 holders.
  • The largest Invesco Trust Investment Grade Municipals buyer in Q4 2016 was Rivernorth Capital Management, an estimated $3.29M added.
  • The largest Invesco Trust Investment Grade Municipals seller in Q4 2016 was Guggenheim Capital, an estimated $2.75M sold.

Based on aggregated 13F filings for Q4 2016.