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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
Creative Planning
51
Creative Planning
Kansas
$18K -$52.6K -4,596 -75%
AIG
52
American International Group
New York
$13.8K – – –
FNBT
53
FineMark National Bank & Trust
Florida
$12K +$11.5K +1,000 New
1IC
54
1919 Investment Counsel
Maryland
$8K – – –
JIR
55
James Investment Research
Ohio
$5K – – –
LTFS
56
Ladenburg Thalmann Financial Services
Florida
$5K – – –
DADC
57
D.A. Davidson & Co
Montana
$5K +$5.73K +500 New
DOA
58
D'Orazio & Associates
Virginia
$4K +$4.12K +360 New
TRCT
59
Tower Research Capital (TRC)
New York
$4K +$4.35K +380 New
Northern Trust
60
Northern Trust
Illinois
$1K +$140K +12,254 New
OFG
61
OTA Financial Group
New York
$282 +$279K +24,382 New
FTCM
62
Fir Tree Capital Management
New York
– -$13M -1,111,573 Closed
TC
63
TFS Capital
Pennsylvania
– -$1.27M -108,515 Closed
JP Morgan Chase
64
JP Morgan Chase
New York
– -$282K -24,100 Closed
FFSOTS
65
Fiduciary Financial Services of The Southwest
Texas
– -$178K -15,204 Closed
Goldman Sachs
66
Goldman Sachs
New York
– -$177K -15,164 Closed
PP
67
Paloma Partners
Connecticut
– -$144K -12,300 Closed
PFO
68
Pathstone Family Office
New Jersey
– -$57K -4,804 Closed
NES
69
New England Securities
New York
– -$16K -1,382 Closed
Northwestern Mutual Wealth Management
70
Northwestern Mutual Wealth Management
Wisconsin
– -$16K -1,334 Closed
Ameriprise
71
Ameriprise
Minnesota
– -$15K -1,300 Closed
ECM
72
ETrade Capital Management
Virginia
– -$1K -96 Closed
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.