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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
AIA
51
Allegis Investment Advisors
Idaho
$199K +$203K +15,593 New
RJT
52
Raymond James Trust
Florida
$192K – – –
SG
53
Strid Group
Pennsylvania
$191K – – –
Commonwealth Equity Services
54
Commonwealth Equity Services
Massachusetts
$182K +$26.6K +2,039 +17%
PAG
55
Private Advisor Group
New Jersey
$182K +$26.7K +2,048 +17%
NL
56
NWAM LLC
Washington
$179K – – –
US Bancorp
57
US Bancorp
Minnesota
$175K +$8.48K +650 +5%
CCB
58
Cutter & Co Brokerage
Missouri
$161K – – –
PFS
59
Prospera Financial Services
Texas
$159K +$163K +12,507 New
KLI
60
Kelman-Lazarov Inc
Tennessee
$153K – – –
IH
61
IFC Holdings
Florida
$140K +$144K +11,005 New
HH
62
Hilltop Holdings
Texas
$139K – – –
Bank of Montreal
63
Bank of Montreal
Ontario, Canada
$111K -$4.89K -375 -4%
TWA
64
TCI Wealth Advisors
Arizona
$97K +$99.3K +7,607 New
GWM
65
Geneos Wealth Management
Colorado
$96K +$718 +55 +0.7%
LTFS
66
Ladenburg Thalmann Financial Services
Florida
$82K +$65.1K +4,987 +337%
IWA
67
IBEX Wealth Advisors
New Jersey
$62K +$63K +4,827 New
SIM
68
Sonora Investment Management
Arizona
$61.6K – – –
AG
69
Advisor Group
Arizona
$58K -$2.62K -201 -4%
BRC
70
Bell Rock Capital
Delaware
$57K +$58.8K +4,503 New
EWM
71
Evercore Wealth Management
New York
$46K – – –
RBC
72
Roble Belko & Company
Pennsylvania
$24K – – –
JP Morgan Chase
73
JP Morgan Chase
New York
$20K – – –
Fifth Third Bancorp
74
Fifth Third Bancorp
Ohio
$19K – – –
KPCM
75
Kings Point Capital Management
New York
$15K – – –
1 2
3
4

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.