Invesco Pennsylvania Value Municipal Income Trust
VPV
30 hedge funds and large institutions have $35.8M invested in Invesco Pennsylvania Value Municipal Income Trust in 2016 Q1 according to their latest regulatory filings, with 4 funds opening new positions, 4 increasing their positions, 17 reducing their positions, and 8 closing their positions.
2.52% less ownership
Funds ownership: 13.62% → 11.1% (-2.5%)
12% less funds holding
Funds holding: 34 → 30 (-4)
17% less capital invested
Capital invested by funds: $43M → $35.8M (-$7.21M)
50% less first-time investments, than exits
New positions opened: 4 | Existing positions closed: 8
76% less repeat investments, than reductions
Existing positions increased: 4 | Existing positions reduced: 17
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PNC Financial Services Group
Pittsburgh,
Pennsylvania
|
+$147K |
| 2 |
UBS Group
Zurich,
Switzerland
|
+$61.5K |
| 3 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
+$52.4K |
| 4 |
LTFS
Ladenburg Thalmann Financial Services
Miami,
Florida
|
+$19.6K |
| 5 |
KFA
Kelleher Financial Advisors
New York
|
+$9.63K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$2.83M |
| 2 |
LCM
Laurion Capital Management
New York
|
-$1.44M |
| 3 |
LCM
Landscape Capital Management
Englewood,
New Jersey
|
-$1.15M |
| 4 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$810K |
| 5 |
AA
AQR Arbitrage
Greenwich,
Connecticut
|
-$382K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
LTFS
26
Ladenburg Thalmann Financial Services
Miami,
Florida
| $20K | +$19.6K | +1,500 | New |
|
27
Creative Planning
Overland Park,
Kansas
| $14K | – | – | – |
|
|
KTC
28
Kistler-Tiffany Companies
Berwyn,
Pennsylvania
| $14K | – | – | – |
|
|
KFA
29
Kelleher Financial Advisors
New York
| $9K | +$9.63K | +735 | New |
|
30
First Manhattan
New York
| $4K | – | – | – |
|
|
TRCT
31
Tower Research Capital (TRC)
New York
| $1K | +$1.13K | +86 | New |
|
|
LCM
32
Laurion Capital Management
New York
| – | -$1.44M | -112,359 | Closed |
|
|
LCM
33
Landscape Capital Management
Englewood,
New Jersey
| – | -$1.15M | -90,009 | Closed |
|
|
AA
34
AQR Arbitrage
Greenwich,
Connecticut
| – | -$382K | -29,783 | Closed |
|
35
SG Americas Securities
New York
| – | -$297K | -23,182 | Closed |
|
36
Squarepoint
New York
| – | -$222K | -17,300 | Closed |
|
|
WRM
37
Westport Resources Management
Westport,
Connecticut
| – | -$154K | -11,986 | Closed |
|
38
Bank of New York Mellon
New York
| – | -$141K | -11,000 | Closed |
|
39
US Bancorp
Minneapolis,
Minnesota
| – | -$21K | -1,604 | Closed |
|
VPV Hedge Fund Activity: Q1 2016 in Review
30 of the 3,754 institutional investors tracked by Wall St. Rank reported a position in Invesco Pennsylvania Value Municipal Income Trust (VPV) for Q1 2016, worth a combined $35.8M — down 17% from $43M a quarter earlier.
Sellers outnumbered buyers: 8 funds closed out of VPV and 4 opened new positions — a net loss of 4 holders — while 17 trimmed existing stakes and 4 added.
The largest buyer was PNC Financial Services Group, adding an estimated $147K. The largest seller was Karpus Investment Management, cutting an estimated $2.83M.
- 30 institutional investors held Invesco Pennsylvania Value Municipal Income Trust (VPV) as of Q1 2016, down from 34 in Q4 2015.
- Funds reported $35.8M of Invesco Pennsylvania Value Municipal Income Trust stock for Q1 2016, down 17% quarter-over-quarter.
- 4 funds opened new Invesco Pennsylvania Value Municipal Income Trust positions in Q1 2016 and 8 closed out, a net change of -4 holders.
- The largest Invesco Pennsylvania Value Municipal Income Trust buyer in Q1 2016 was PNC Financial Services Group, an estimated $147K added.
- The largest Invesco Pennsylvania Value Municipal Income Trust seller in Q1 2016 was Karpus Investment Management, an estimated $2.83M sold.
Based on aggregated 13F filings for Q1 2016.