Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

INVESCO TR INVT GRADE MUNS (VGM)

99 + Investors. Track Smart Money conviction in VGM. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -6
Streak
2Q ▼
Buyers last Q
51%

Smart Money Signals — VGM

Based on 99 hedge funds · latest filing: 2025 Q4 · updated quarterly

📉

Selling streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds reduced or closed their VGM positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 88% of 3.0Y peak

88% of all-time peak
99 funds currently hold this stock — 88% of the 3.0-year high of 113 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️

Stable — ownership unchanged year-over-year

fund count last 6Q
The number of hedge funds holding VGM is almost the same as a year ago (-3 funds, -3% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡

Slight buying edge — 51% buying

42 buying41 selling
Last quarter: 42 funds bought or added vs 41 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️

Steady new buyers — ~9 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 12 → 20 → 9 → 9. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

63% of holders stayed for 2+ years

■ 63% conviction (2yr+) ■ 18% medium ■ 19% new
62 out of 99 hedge funds have held VGM for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares -17%, value -98%

Value
-98%
Shares
-17%
Last quarter: funds added -17% more shares while total portfolio value only changed -98%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
⚠️

Saturation — most institutions already know this story

15 → 12 → 20 → 9 → 9 new funds/Q
New funds entering each quarter: 12 → 20 → 9 → 9. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️

Deep conviction — 64% of holders stayed 2+ years

■ 64% veterans ■ 11% 1-2yr ■ 25% new
Of 99 current holders: 63 (64%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅

Strong quality — 35% AUM from major funds

35% from top-100 AUM funds
11 of 99 holders rank in the top 100 by AUM, accounting for 35% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
2.9
out of 10
Low Exit Risk
Exit risk score 2.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Hedge Fund Ownership: VGM

How many hedge funds hold VGM — quarterly history vs. share price
Quarterly hedge fund ownership of VGM vs. share price

Market Analysis: VGM

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: VGM

-- --
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

12 top-rated funds 0 high-conviction
Consensus
4.8
/ 10
breadth
×
Elite
0.6
/ 10
conviction
Hedge Fund Positioning: VGM
2026 Q1 Stats Unlock in 23 days 99 + Investors

Track Smart Money conviction in VGM. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 99 105 -5.71%
13F Shares 13M 15M -17.2%
Total Value $132M $6.64B -98.0%
New Positions 9 9 -
Increased Positions 33 38 -5
Closed Positions 15 17 -2
Reduced Positions 26 25 +1
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: VGM

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Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
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Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

99 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in VGM. Verified SEC 13F-HR filings.

Top 25 institutional holders of VGM — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Gridiron Partners, LLC 0.78% 129,726 $1.3M
2 Melone Private Wealth, LLC 0.70% 172,859 $1.7M
3 Wealth Care LLC 0.44% 50,000 $494K
4 MELFA WEALTH MANAGEMENT, INC. 0.21% 37,360 $369K
5 Burford Brothers, Inc. 0.19% 46,421 $458K
6 Claro Advisors Inc. 0.13% 112,530 $1.1M
7 Carroll Advisory Group, LLC 0.09% 22,645 $224K
8 MACKAY SHIELDS LLC 0.08% 209,167 $2.1M
9 LexAurum Advisors, LLC 0.07% 54,940 $542K
10 Kercheville Advisors, LLC 0.07% 22,143 $219K
11 Catalina Capital Group, LLC 0.07% 11,104 $110K
12 Sovereign Financial Group, Inc. 0.05% 30,869 $305K
13 WealthBridge Capital Management, LLC 0.05% 22,500 $222K
14 Zullo Investment Group, Inc. 0.05% 13,500 $133K
15 WMG Financial Advisors, LLC 0.05% 10,948 $108K
16 KENNEDY INVESTMENT GROUP, INC. 0.04% 10,619 $105K
17 GILL CAPITAL PARTNERS, LLC 0.03% 9,991 $99K
18 Wealth Alliance Advisory Group, LLC 0.02% 15,737 $155K
19 Cornerstone Wealth Management, LLC 0.02% 30,404 $300K
20 World Investment Advisors 0.01% 68,065 $672K
21 Prospera Financial Services Inc 0.00% 29,606 $292K
22 NBC SECURITIES, INC. 0.00% 6,227 $61K
23 Dynamic Advisor Solutions LLC 0.00% 14,150 $140K
24 Private Advisor Group, LLC 0.00% 68,723 $678K
25 WEDBUSH SECURITIES INC 0.00% 11,000 —
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — INVESCO TR INVT GRADE MUNS (VGM)

What does the Smart Money Trend signal show for VGM?

Selling streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds reduced or closed their VGM positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for VGM?

Slight buying edge — 51% buying: Last quarter: 42 funds bought or added vs 41 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for VGM holders?

Strong quality — 35% AUM from major funds: 11 of 99 holders rank in the top 100 by AUM, accounting for 35% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held VGM?

63% of holders stayed for 2+ years: 62 out of 99 hedge funds have held VGM for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.