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Invesco Trust Investment Grade Municipals
VGM

88 hedge funds and large institutions have $108M invested in Invesco Trust Investment Grade Municipals in 2018 Q4 according to their latest regulatory filings, with 15 funds opening new positions, 25 increasing their positions, 27 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

42% more capital invested

Capital invested by funds: $76.6M → $108M (+$31.9M)

15% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 13

5.52% more ownership

Funds ownership: 11.88% → 17.4% (+5.5%)

2% more funds holding

Funds holding: 86 → 88 (+2)

7% less repeat investments, than reductions

Existing positions increased: 25 | Existing positions reduced: 27

Holders
88
Holders Change
+2
Holders Change %
+2.33%
% of All Funds
1.96%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
15
Increased
25
Reduced
27
Closed
13
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$17M
2
BI
Bramshill Investments
Florida
+$8.2M
3
RCM
Rivernorth Capital Management
Florida
+$3.28M
4
WAM
Wolverine Asset Management
Illinois
+$1.8M
5
SIA
Sit Investment Associates
Minnesota
+$1.6M

Top Sellers

Rank Fund Capital Flow
1
NCMW
Northern Capital Management (Wisconsin)
Wisconsin
-$2.04M
2
NMC
Nine Masts Capital
Hong Kong
-$1.49M
3
UBS Group
UBS Group
Switzerland
-$1.4M
4
Wells Fargo
Wells Fargo
California
-$1.35M
5
Invesco
Invesco
Georgia
-$904K
Name Holding Trade Value Shares
Change 		Change in
Stake
FCH
51
Freestone Capital Holdings
Washington
$259K +$258K +22,580 New
DDPIC
52
Deroy & Devereaux Private Investment Counsel
Michigan
$256K -$74.3K -6,500 -23%
GWM
53
Geneos Wealth Management
Colorado
$248K +$192K +16,822 +334%
PFS
54
Prospera Financial Services
Texas
$222K +$28.6K +2,500 +15%
OFW
55
Omnia Family Wealth
Florida
$216K – – –
SRC
56
Shufro Rose & Co
New York
$207K -$118K -10,300 -36%
Commonwealth Equity Services
57
Commonwealth Equity Services
Massachusetts
$205K +$10.6K +930 +5%
HCM
58
Hollencrest Capital Management
California
$186K – – –
BBA
59
BLB&B Advisors
Pennsylvania
$181K -$25.1K -2,198 -12%
BF
60
BOK Financial
Oklahoma
$166K – – –
CIA
61
Capital Investment Advisors
Georgia
$164K -$14.9K -1,300 -8%
SIM
62
Sonora Investment Management
Arizona
$164K – – –
NL
63
NWAM LLC
Washington
$162K – – –
WS
64
Wedbush Securities
California
$155K -$464K -40,647 -75%
PAG
65
Private Advisor Group
New Jersey
$142K +$142K +12,400 New
WCM
66
WealthBridge Capital Management
Ohio
$126K +$126K +11,000 New
NFG
67
Nations Financial Group
Iowa
$122K – – –
LWAC
68
Laurel Wealth Advisors (California)
California
$118K – – –
CP
69
Camelot Portfolios
Ohio
$115K – – –
PCG
70
Private Capital Group
Connecticut
$103K – – –
CFG
71
CKW Financial Group
Hawaii
$102K – – –
Citigroup
72
Citigroup
New York
$98K -$34.3K -3,000 -26%
BFC
73
Bedel Financial Consulting
Indiana
$98K – – –
BFEC
74
Benjamin F. Edwards & Company
Missouri
$60K +$16.5K +1,445 +39%
FIA
75
FNY Investment Advisers
New York
$59K +$59.6K +5,219 New
1 2
3
4 5

VGM Hedge Fund Activity: Q4 2018 in Review

88 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in Invesco Trust Investment Grade Municipals (VGM) for Q4 2018, worth a combined $108M — up 42% from $76.6M a quarter earlier.

Buyers outnumbered sellers: 15 funds opened new VGM positions and 13 closed out — a net gain of 2 holders — while 25 added to existing stakes and 27 trimmed.

The largest buyer was Karpus Investment Management, adding an estimated $17M. The largest seller was Northern Capital Management (Wisconsin), cutting an estimated $2.04M.

  • 88 institutional investors held Invesco Trust Investment Grade Municipals (VGM) as of Q4 2018, up from 86 in Q3 2018.
  • Funds reported $108M of Invesco Trust Investment Grade Municipals stock for Q4 2018, up 42% quarter-over-quarter.
  • 15 funds opened new Invesco Trust Investment Grade Municipals positions in Q4 2018 and 13 closed out, a net change of +2 holders.
  • The largest Invesco Trust Investment Grade Municipals buyer in Q4 2018 was Karpus Investment Management, an estimated $17M added.
  • The largest Invesco Trust Investment Grade Municipals seller in Q4 2018 was Northern Capital Management (Wisconsin), an estimated $2.04M sold.

Based on aggregated 13F filings for Q4 2018.