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Invesco Municipal Trust
VKQ

64 hedge funds and large institutions have $120M invested in Invesco Municipal Trust in 2015 Q4 according to their latest regulatory filings, with 11 funds opening new positions, 23 increasing their positions, 15 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

53% more repeat investments, than reductions

Existing positions increased: 23 | Existing positions reduced: 15

38% more first-time investments, than exits

New positions opened: 11 | Existing positions closed: 8

3% more funds holding

Funds holding: 62 → 64 (+2)

2% more capital invested

Capital invested by funds: $117M → $120M (+$2.76M)

0.23% less ownership

Funds ownership: 17.3% → 17.07% (-0.23%)

75% less funds holding in top 10

Funds holding in top 10: 4 → 1 (-3)

Holders
64
Holders Change
+2
Holders Change %
+3.23%
% of All Funds
1.68%
Holding in Top 10
1
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-75%
% of All Funds
0.03%
New
11
Increased
23
Reduced
15
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
+$4.64M
2
GC
Guggenheim Capital
Illinois
+$2.63M
3
LCM
Laurion Capital Management
New York
+$2.13M
4
Wells Fargo
Wells Fargo
California
+$734K
5
LPL Financial
LPL Financial
California
+$537K

Top Sellers

1
RCM
Rivernorth Capital Management
Florida
-$4.24M
2
MSL
Mackay Shields LLC
New York
-$2.87M
3
LSA
Liberty Street Advisors
New York
-$2.07M
4
Morgan Stanley
Morgan Stanley
New York
-$1.13M
5
AA
AQR Arbitrage
Connecticut
-$684K
Name Holding Trade Value Shares
Change 		Change in
Stake
RJA
26
Raymond James & Associates
Florida
$484K -$55.6K -4,432 -10%
CIA
27
Capital Investment Advisors
Georgia
$399K +$14.7K +1,175 +4%
Royal Bank of Canada
28
Royal Bank of Canada
Ontario, Canada
$377K -$22.2K -1,772 -6%
RJFSA
29
Raymond James Financial Services Advisors
Florida
$359K -$30.1K -2,405 -8%
WFI
30
West Family Investments
California
$344K – – –
Cambridge Investment Research Advisors
31
Cambridge Investment Research Advisors
Iowa
$324K -$13K -1,039 -4%
OC
32
Oppenheimer & Co
New York
$298K -$17K -1,354 -5%
LCM
33
Landscape Capital Management
New Jersey
$288K -$78.9K -6,297 -22%
BTS
34
BB&T Securities
Virginia
$282K +$5.01K +400 +2%
Commonwealth Equity Services
35
Commonwealth Equity Services
Massachusetts
$261K -$7.75K -618 -3%
HighTower Advisors
36
HighTower Advisors
Illinois
$253K -$127K -10,100 -34%
SBIA
37
Sheaff Brock Investment Advisors
Indiana
$246K +$241K +19,250 New
BFEC
38
Benjamin F. Edwards & Company
Missouri
$197K +$3.11K +248 +2%
US Bancorp
39
US Bancorp
Minnesota
$195K – – –
Deutsche Bank
40
Deutsche Bank
Germany
$188K – – –
AIM
41
Allen Investment Management
New York
$168K -$179K -14,261 -52%
EFS
42
Essex Financial Services
Connecticut
$161K – – –
PAG
43
Private Advisor Group
New Jersey
$149K +$7.52K +600 +5%
ICOA
44
Investment Centers of America
North Dakota
$146K +$1.78K +142 +1%
WS
45
Wedbush Securities
California
$133K +$130K +10,400 New
VFS
46
VSR Financial Services
Kansas
$132K – – –
PM
47
Penbrook Management
New York
$128K – – –
IA
48
IFP Advisors
Florida
$89K +$87.5K +6,982 New
HCM
49
Highlander Capital Management
New Jersey
$82K – – –
Fifth Third Bancorp
50
Fifth Third Bancorp
Ohio
$64K +$9.25K +738 +17%
1
2
3

VKQ Hedge Fund Activity: Q4 2015 in Review

64 of the 3,812 institutional investors tracked by Wall St. Rank reported a position in Invesco Municipal Trust (VKQ) for Q4 2015, worth a combined $120M — up 2.3% from $117M a quarter earlier.

Buyers outnumbered sellers: 11 funds opened new VKQ positions and 8 closed out — a net gain of 3 holders — while 23 added to existing stakes and 15 trimmed.

The largest buyer was Fiera Capital (Canada), opening a new position worth an estimated $4.64M. The largest seller was Rivernorth Capital Management, cutting an estimated $4.24M.

  • 64 institutional investors held Invesco Municipal Trust (VKQ) as of Q4 2015, up from 62 in Q3 2015.
  • Funds reported $120M of Invesco Municipal Trust stock for Q4 2015, up 2.3% quarter-over-quarter.
  • 11 funds opened new Invesco Municipal Trust positions in Q4 2015 and 8 closed out, a net change of +3 holders.
  • The largest Invesco Municipal Trust buyer in Q4 2015 was Fiera Capital (Canada), an estimated $4.64M added.
  • The largest Invesco Municipal Trust seller in Q4 2015 was Rivernorth Capital Management, an estimated $4.24M sold.

Based on aggregated 13F filings for Q4 2015.