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Invesco Trust Investment Grade Municipals
VGM

85 hedge funds and large institutions have $122M invested in Invesco Trust Investment Grade Municipals in 2020 Q1 according to their latest regulatory filings, with 18 funds opening new positions, 18 increasing their positions, 27 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

80% more first-time investments, than exits

New positions opened: 18 | Existing positions closed: 10

8% more funds holding

Funds holding: 79 → 85 (+6)

1.68% more ownership

Funds ownership: 16.98% → 18.66% (+1.7%)

3% more capital invested

Capital invested by funds: $118M → $122M (+$3.26M)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

33% less repeat investments, than reductions

Existing positions increased: 18 | Existing positions reduced: 27

Holders
85
Holders Change
+6
Holders Change %
+7.59%
% of All Funds
1.87%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
18
Increased
18
Reduced
27
Closed
10
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$16.1M
2
BI
Bramshill Investments
Florida
+$5.35M
3
RCM
Rivernorth Capital Management
Florida
+$3.03M
4
AA
AQR Arbitrage
Connecticut
+$795K
5
Morgan Stanley
Morgan Stanley
New York
+$448K

Top Sellers

Rank Fund Capital Flow
1
RCM
Robinson Capital Management
Michigan
-$4.72M
2
SIA
Sit Investment Associates
Minnesota
-$3.25M
3
MSL
Mackay Shields LLC
New York
-$2.29M
4
UBS Group
UBS Group
Switzerland
-$1.54M
5
PPA
Parametric Portfolio Associates
Washington
-$917K
Name Holding Trade Value Shares
Change 		Change in
Stake
Kovitz Investment Group Partners
26
Kovitz Investment Group Partners
Illinois
$683K -$25.4K -2,000 -3%
BF
27
BOK Financial
Oklahoma
$659K +$19.1K +1,500 +3%
Ameriprise
28
Ameriprise
Minnesota
$639K -$369K -29,020 -36%
First Trust Advisors
29
First Trust Advisors
Illinois
$545K -$105K -8,237 -15%
RJA
30
Raymond James & Associates
Florida
$528K +$38.7K +3,042 +7%
SFWA
31
Summit Financial Wealth Advisors
Louisiana
$481K +$63.6K +5,000 +13%
Truist Financial
32
Truist Financial
North Carolina
$449K -$45.8K -3,600 -9%
ECG
33
Edge Capital Group
Georgia
$423K – – –
6M
34
6 Meridian
Kansas
$414K -$252K -19,772 -37%
LCM
35
Landscape Capital Management
New Jersey
$393K -$35.8K -2,817 -8%
DWM
36
Dakota Wealth Management
Florida
$384K +$405K +31,800 New
Janney Montgomery Scott
37
Janney Montgomery Scott
Pennsylvania
$370K +$18.4K +1,450 +5%
Commonwealth Equity Services
38
Commonwealth Equity Services
Massachusetts
$362K +$4.34K +341 +1%
CA
39
Claro Advisors
Massachusetts
$322K +$338K +26,604 New
Cambridge Investment Research Advisors
40
Cambridge Investment Research Advisors
Iowa
$314K -$116K -9,145 -26%
Goldman Sachs
41
Goldman Sachs
New York
$267K +$281K +22,113 New
MAFM
42
Mid Atlantic Financial Management
Pennsylvania
$263K +$10.2K +800 +4%
OFW
43
Omnia Family Wealth
Florida
$227K – – –
SRC
44
Shufro Rose & Co
New York
$212K – – –
HCM
45
Hollencrest Capital Management
California
$196K – – –
SIM
46
Sonora Investment Management
Arizona
$173K – – –
NL
47
NWAM LLC
Washington
$170K – – –
WS
48
Wedbush Securities
California
$164K +$172K +13,551 New
DDPIC
49
Deroy & Devereaux Private Investment Counsel
Michigan
$160K -$19.2K -1,510 -10%
CIA
50
Capital Investment Advisors
Georgia
$150K – – –
1
2
3 4

VGM Hedge Fund Activity: Q1 2020 in Review

85 of the 4,539 institutional investors tracked by Wall St. Rank reported a position in Invesco Trust Investment Grade Municipals (VGM) for Q1 2020, worth a combined $122M — up 2.8% from $118M a quarter earlier.

Buyers outnumbered sellers: 18 funds opened new VGM positions and 10 closed out — a net gain of 8 holders — while 18 added to existing stakes and 27 trimmed.

The largest buyer was Karpus Investment Management, adding an estimated $16.1M. The largest seller was Robinson Capital Management, cutting an estimated $4.72M.

  • 85 institutional investors held Invesco Trust Investment Grade Municipals (VGM) as of Q1 2020, up from 79 in Q4 2019.
  • Funds reported $122M of Invesco Trust Investment Grade Municipals stock for Q1 2020, up 2.8% quarter-over-quarter.
  • 18 funds opened new Invesco Trust Investment Grade Municipals positions in Q1 2020 and 10 closed out, a net change of +8 holders.
  • The largest Invesco Trust Investment Grade Municipals buyer in Q1 2020 was Karpus Investment Management, an estimated $16.1M added.
  • The largest Invesco Trust Investment Grade Municipals seller in Q1 2020 was Robinson Capital Management, an estimated $4.72M sold.

Based on aggregated 13F filings for Q1 2020.