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Invesco Pennsylvania Value Municipal Income Trust
VPV

43 hedge funds and large institutions have $50.7M invested in Invesco Pennsylvania Value Municipal Income Trust in 2018 Q3 according to their latest regulatory filings, with 4 funds opening new positions, 10 increasing their positions, 20 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

1.79% less ownership

Funds ownership: 19.68% → 17.89% (-1.8%)

10% less capital invested

Capital invested by funds: $56.2M → $50.7M (-$5.53M)

14% less funds holding

Funds holding: 50 → 43 (-7)

50% less repeat investments, than reductions

Existing positions increased: 10 | Existing positions reduced: 20

64% less first-time investments, than exits

New positions opened: 4 | Existing positions closed: 11

Holders
43
Holders Change
-7
Holders Change %
-14%
% of All Funds
0.98%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
4
Increased
10
Reduced
20
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
+$964K
2
DWM
Dakota Wealth Management
Florida
+$498K
3
PAG
Private Advisor Group
New Jersey
+$238K
4
MIG
Mariner Investment Group
New York
+$236K
5
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$203K

Top Sellers

Rank Fund Capital Flow
1
SIA
Sit Investment Associates
Minnesota
-$2.41M
2
KIM
Karpus Investment Management
New York
-$1.66M
3
PCM
PenderFund Capital Management
British Columbia, Canada
-$1.14M
4
LCM
Landscape Capital Management
New Jersey
-$437K
5
LCM
Laurion Capital Management
New York
-$342K
Name Holding Trade Value Shares
Change 		Change in
Stake
PAG
26
Private Advisor Group
New Jersey
$236K +$238K +19,857 New
Stifel Financial
27
Stifel Financial
Missouri
$187K +$7.44K +620 +4%
HI
28
Hudock Inc
Pennsylvania
$167K – – –
DBRC
29
D.B. Root & Company
Pennsylvania
$158K -$26.9K -2,239 -14%
RJFSA
30
Raymond James Financial Services Advisors
Florida
$148K -$8.2K -683 -5%
AA
31
AQR Arbitrage
Connecticut
$145K -$181K -15,100 -55%
ACA
32
Anchor Capital Advisors
Massachusetts
$126K – – –
PTC
33
Philadelphia Trust Company
Pennsylvania
$124K +$125K +10,401 New
GP
34
Girard Partners
Pennsylvania
$119K – – –
FCMT
35
Founders Capital Management (Texas)
Texas
$48K – – –
GWM
36
Geneos Wealth Management
Colorado
$38K – – –
CFG
37
Citizens Financial Group
Rhode Island
$38K +$540 +45 +1%
Northwestern Mutual Wealth Management
38
Northwestern Mutual Wealth Management
Wisconsin
$35K -$1.2K -100 -3%
SWP
39
Stratos Wealth Partners
Ohio
$28K +$28.1K +2,345 New
LTFS
40
Ladenburg Thalmann Financial Services
Florida
$22K +$4K +333 +22%
SPIA
41
Steward Partners Investment Advisory
New York
$12K -$7.99K -666 -40%
KTC
42
Kistler-Tiffany Companies
Pennsylvania
$12K – – –
First Manhattan
43
First Manhattan
New York
$4K – – –
LCM
44
Laurion Capital Management
New York
– -$342K -28,574 Closed
DA
45
Doliver Advisors
Texas
– -$237K -19,766 Closed
Geode Capital Management
46
Geode Capital Management
Massachusetts
– -$139K -11,646 Closed
TJHA
47
Thomas J. Herzfeld Advisors
Florida
– -$92K -7,659 Closed
JFA
48
JNBA Financial Advisors
Minnesota
– -$57K -4,771 Closed
KCPG
49
Kavar Capital Partners Group
Kansas
– -$36K -3,000 Closed
STA
50
Summit Trail Advisors
New York
– -$15K -1,272 Closed
1
2
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VPV Hedge Fund Activity: Q3 2018 in Review

43 of the 4,375 institutional investors tracked by Wall St. Rank reported a position in Invesco Pennsylvania Value Municipal Income Trust (VPV) for Q3 2018, worth a combined $50.7M — down 9.8% from $56.2M a quarter earlier.

Sellers outnumbered buyers: 11 funds closed out of VPV and 4 opened new positions — a net loss of 7 holders — while 20 trimmed existing stakes and 10 added.

The largest buyer was Fiera Capital (Canada), adding an estimated $964K. The largest seller was Sit Investment Associates, cutting an estimated $2.41M.

  • 43 institutional investors held Invesco Pennsylvania Value Municipal Income Trust (VPV) as of Q3 2018, down from 50 in Q2 2018.
  • Funds reported $50.7M of Invesco Pennsylvania Value Municipal Income Trust stock for Q3 2018, down 9.8% quarter-over-quarter.
  • 4 funds opened new Invesco Pennsylvania Value Municipal Income Trust positions in Q3 2018 and 11 closed out, a net change of -7 holders.
  • The largest Invesco Pennsylvania Value Municipal Income Trust buyer in Q3 2018 was Fiera Capital (Canada), an estimated $964K added.
  • The largest Invesco Pennsylvania Value Municipal Income Trust seller in Q3 2018 was Sit Investment Associates, an estimated $2.41M sold.

Based on aggregated 13F filings for Q3 2018.