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Invesco Advantage Municipal Income Trust II
VKI

50 hedge funds and large institutions have $48.7M invested in Invesco Advantage Municipal Income Trust II in 2013 Q4 according to their latest regulatory filings, with 17 funds opening new positions, 14 increasing their positions, 11 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

240% more first-time investments, than exits

New positions opened: 17 | Existing positions closed: 5

58% more capital invested

Capital invested by funds: $30.9M → $48.7M (+$17.9M)

32% more funds holding

Funds holding: 38 → 50 (+12)

27% more repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 11

3.89% more ownership

Funds ownership: 6.65% → 10.54% (+3.9%)

Holders
50
Holders Change
+12
Holders Change %
+31.58%
% of All Funds
1.45%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
17
Increased
14
Reduced
11
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$5.25M
2
MSL
Mackay Shields LLC
New York
+$3.05M
3
Bank of America
Bank of America
North Carolina
+$2.03M
4
RCM
Rivernorth Capital Management
Florida
+$1.73M
5
HighTower Advisors
HighTower Advisors
Illinois
+$1.69M

Top Sellers

Rank Fund Capital Flow
1
FTCM
Fir Tree Capital Management
New York
-$3.19M
2
SIA
Sit Investment Associates
Minnesota
-$1.75M
3
Cambridge Investment Research Advisors
Cambridge Investment Research Advisors
Iowa
-$1.02M
4
PP
Paloma Partners
Connecticut
-$141K
5
Wells Fargo
Wells Fargo
California
-$55.3K
Name Holding Trade Value Shares
Change 		Change in
Stake
Geode Capital Management
26
Geode Capital Management
Massachusetts
$278K – – –
AAM
27
Advisors Asset Management
Colorado
$277K -$33.7K -3,247 -11%
DA
28
Doliver Advisors
Texas
$260K +$30.7K +2,963 +14%
CIA
29
Capital Investment Advisors
Georgia
$219K +$216K +20,830 New
CAS
30
CTC Alternative Strategies
Illinois
$191K +$188K +18,120 New
DS
31
DRW Securities
Illinois
$169K +$167K +16,100 New
Bank of Montreal
32
Bank of Montreal
Ontario, Canada
$168K -$37.3K -3,600 -18%
U
33
UBS
Switzerland
$155K +$15.8K +1,527 +12%
Cambridge Investment Research Advisors
34
Cambridge Investment Research Advisors
Iowa
$141K -$1.02M -98,051 -88%
LCM
35
Landscape Capital Management
New Jersey
$128K +$126K +12,195 New
Creative Planning
36
Creative Planning
Kansas
$113K +$9.87K +952 +10%
FAAS
37
First Allied Advisory Services
California
$111K -$38.4K -3,700 -26%
Ameriprise
38
Ameriprise
Minnesota
$87K +$85.6K +8,255 New
Royal Bank of Canada
39
Royal Bank of Canada
Ontario, Canada
$77K -$34.4K -3,322 -31%
ST
40
Somerset Trust
Pennsylvania
$53K +$51.8K +5,000 New
Deutsche Bank
41
Deutsche Bank
Germany
$33K -$33.1K -3,188 -50%
LTFS
42
Ladenburg Thalmann Financial Services
Florida
$21K -$16.6K -1,601 -44%
FFC
43
First Financial Corp
Indiana
$15K – – –
US Bancorp
44
US Bancorp
Minnesota
$13K – – –
AIG
45
American International Group
New York
$10.5K – – –
1IC
46
1919 Investment Counsel
Maryland
$9K – – –
MFS
47
MSI Financial Services
Massachusetts
$8K +$41 +4 +0.6%
Northern Trust
48
Northern Trust
Illinois
$5K +$37.2K +3,588 +9%
DOA
49
D'Orazio & Associates
Virginia
$4K +$4.08K +394 New
OFG
50
OTA Financial Group
New York
$282 +$279K +26,871 New
1
2
3

VKI Hedge Fund Activity: Q4 2013 in Review

50 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Invesco Advantage Municipal Income Trust II (VKI) for Q4 2013, worth a combined $48.7M — up 58% from $30.9M a quarter earlier.

Buyers outnumbered sellers: 17 funds opened new VKI positions and 5 closed out — a net gain of 12 holders — while 14 added to existing stakes and 11 trimmed.

The largest buyer was Karpus Investment Management, opening a new position worth an estimated $5.25M. The largest seller was Fir Tree Capital Management, exiting entirely with an estimated $3.19M sold.

  • 50 institutional investors held Invesco Advantage Municipal Income Trust II (VKI) as of Q4 2013, up from 38 in Q3 2013.
  • Funds reported $48.7M of Invesco Advantage Municipal Income Trust II stock for Q4 2013, up 58% quarter-over-quarter.
  • 17 funds opened new Invesco Advantage Municipal Income Trust II positions in Q4 2013 and 5 closed out, a net change of +12 holders.
  • The largest Invesco Advantage Municipal Income Trust II buyer in Q4 2013 was Karpus Investment Management, an estimated $5.25M added.
  • The largest Invesco Advantage Municipal Income Trust II seller in Q4 2013 was Fir Tree Capital Management, an estimated $3.19M sold.

Based on aggregated 13F filings for Q4 2013.