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Invesco Municipal Trust
VKQ

60 hedge funds and large institutions have $77.9M invested in Invesco Municipal Trust in 2013 Q4 according to their latest regulatory filings, with 21 funds opening new positions, 21 increasing their positions, 9 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

133% more repeat investments, than reductions

Existing positions increased: 21 | Existing positions reduced: 9

91% more first-time investments, than exits

New positions opened: 21 | Existing positions closed: 11

61% more capital invested

Capital invested by funds: $48.3M → $77.9M (+$29.6M)

18% more funds holding

Funds holding: 51 → 60 (+9)

4.77% more ownership

Funds ownership: 7% → 11.76% (+4.8%)

Holders
60
Holders Change
+9
Holders Change %
+17.65%
% of All Funds
1.74%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
21
Increased
21
Reduced
9
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
KIM
Karpus Investment Management
New York
+$23.4M
2
RCM
Rivernorth Capital Management
Florida
+$8.63M
3
NVIM
New Vernon Investment Management
Illinois
+$2.97M
4
GEM
Global Endowment Management
North Carolina
+$1.86M
5
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
+$960K

Top Sellers

1
FTCM
Fir Tree Capital Management
New York
-$13M
2
GC
Guggenheim Capital
Illinois
-$1.88M
3
TC
TFS Capital
Pennsylvania
-$1.27M
4
JP Morgan Chase
JP Morgan Chase
New York
-$282K
5
AAM
Advisors Asset Management
Colorado
-$258K
Name Holding Trade Value Shares
Change 		Change in
Stake
RJA
26
Raymond James & Associates
Florida
$343K -$12.2K -1,064 -3%
VKH
27
Virtu KCG Holdings
New York
$337K +$333K +29,066 New
Barclays
28
Barclays
United Kingdom
$316K +$158K +13,775 +92%
WFI
29
West Family Investments
California
$312K +$308K +26,900 New
HighTower Advisors
30
HighTower Advisors
Illinois
$311K +$43.2K +3,770 +16%
Royal Bank of Canada
31
Royal Bank of Canada
Ontario, Canada
$309K +$151K +13,200 +98%
AAM
32
Advisors Asset Management
Colorado
$220K -$258K -22,498 -54%
LCM
33
Landscape Capital Management
New Jersey
$217K +$214K +18,705 New
CIA
34
Capital Investment Advisors
Georgia
$217K +$215K +18,735 New
US Bancorp
35
US Bancorp
Minnesota
$188K – – –
OC
36
Oppenheimer & Co
New York
$184K +$182K +15,854 New
BFEC
37
Benjamin F. Edwards & Company
Missouri
$183K +$50K +4,365 +38%
EFS
38
Essex Financial Services
Connecticut
$166K +$164K +14,300 New
Cambridge Investment Research Advisors
39
Cambridge Investment Research Advisors
Iowa
$162K – – –
DA
40
Doliver Advisors
Texas
$162K +$1.56K +136 +1%
KeyBank National Association
41
KeyBank National Association
Ohio
$160K -$29.6K -2,585 -16%
Commonwealth Equity Services
42
Commonwealth Equity Services
Massachusetts
$153K +$298 +26 +0.2%
Susquehanna International Group
43
Susquehanna International Group
Pennsylvania
$135K +$134K +11,686 New
HFS
44
HL Financial Services
Kentucky
$127K +$125K +10,946 New
PM
45
Penbrook Management
New York
$116K +$115K +10,000 New
Fifth Third Bancorp
46
Fifth Third Bancorp
Ohio
$75K – – –
HCM
47
Highlander Capital Management
New Jersey
$74.1K – – –
BC
48
Bartlett & Co
Ohio
$49K – – –
Citigroup
49
Citigroup
New York
$27K +$22.9K +2,000 +692%
S
50
SignatureFD
Georgia
$19K – – –
1
2
3

VKQ Hedge Fund Activity: Q4 2013 in Review

60 of the 3,445 institutional investors tracked by Wall St. Rank reported a position in Invesco Municipal Trust (VKQ) for Q4 2013, worth a combined $77.9M — up 61% from $48.3M a quarter earlier.

Buyers outnumbered sellers: 21 funds opened new VKQ positions and 11 closed out — a net gain of 10 holders — while 21 added to existing stakes and 9 trimmed.

The largest buyer was Karpus Investment Management, adding an estimated $23.4M. The largest seller was Fir Tree Capital Management, exiting entirely with an estimated $13M sold.

  • 60 institutional investors held Invesco Municipal Trust (VKQ) as of Q4 2013, up from 51 in Q3 2013.
  • Funds reported $77.9M of Invesco Municipal Trust stock for Q4 2013, up 61% quarter-over-quarter.
  • 21 funds opened new Invesco Municipal Trust positions in Q4 2013 and 11 closed out, a net change of +10 holders.
  • The largest Invesco Municipal Trust buyer in Q4 2013 was Karpus Investment Management, an estimated $23.4M added.
  • The largest Invesco Municipal Trust seller in Q4 2013 was Fir Tree Capital Management, an estimated $13M sold.

Based on aggregated 13F filings for Q4 2013.