Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Invesco Tr Invt Grade Muns (VGM)

109 + 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
↑ +8
Streak
1Q ▲
Buyers last Q
60%

Smart Money Signals — VGM

Based on 109 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added VGM than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
📊

High ownership — 94% of 3.0Y peak

94% of all-time peak
109 funds currently hold this stock — 94% of the 3.0-year high of 116 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 (+2 funds, +2% change). No significant rush to buy or sell — institutional backing is holding steady.
🟢

More buyers than sellers — 60% buying

55 buying37 selling
Last quarter: 55 funds were net buyers (19 opened a brand new position + 36 added to an existing one). Only 37 were sellers (26 trimmed + 11 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+10 vs last Q)

new funds entering per quarter
Funds opening a new VGM position: 20 → 9 → 9 → 19. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

61% of holders stayed for 2+ years

■ 61% conviction (2yr+) ■ 20% medium ■ 18% new
67 out of 109 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.
➡️

Steady discovery — ~19 new funds/quarter

12 → 20 → 9 → 9 → 19 new funds/Q
New funds entering each quarter: 20 → 9 → 9 → 19. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 64% veterans vs 28% newcomers

■ 64% veterans ■ 8% 1-2yr ■ 28% new
Entry-cohort mix of 109 holders: 70 (64%) are 2+ year veterans, 9 entered 1–2 years ago, and 30 (28%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 38% AUM from major funds

38% from top-100 AUM funds
16 of 109 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.2
out of 10
Low Exit Risk
Exit risk score 3.2/10 — 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.

Institutional Sentiment Summary — VGM

In 2026 Q1, 55 hedge funds were net buyers of VGM (19 opened a new position, 36 added to an existing one), while 37 reduced or exited (26 trimmed, 11 sold completely) — a 60% buyer ratio, indicating clear institutional accumulation. 38% of total institutional value in VGM is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +8 funds (more new holders than closures). Total institutional holders: 109.

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

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Invesco Tr Invt Grade Muns (VGM) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much VGM has moved relative to its sector benchmark (XLF) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 79d ago
VGM
+4.1%
XLF
+9.5%

VGM outperformed XLF by -5.4% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 34d ago
VGM
-1.3%
XLF
+5.8%

Since the filing became public, VGM outperformed XLF by -7.1% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

5 top-rated funds 0 high-conviction
Consensus
3.4
/ 10
breadth
×
Elite
0.5
/ 10
conviction
Hedge Fund Positioning: VGM
109 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 109 101 7.92%
13F Shares 12M 13M -8.69%
Total Value $106M $134M -21.22%
New Positions 19 9 +10
Increased Positions 36 33 +3
Closed Positions 11 16 -5
Reduced Positions 26 27 -1
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: VGM

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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

109 + investors

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

QUARTER:
Top 25 VGM holders by conviction (% of portfolio weight) — 2026 Q1 · 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 Indiana Trust & Investment Management Co 0.37% 122,000 $1.2M
5 Whipplewood Advisors, LLC 0.36% 70,408 $695K
6 Hennion & Walsh Asset Management, Inc. 0.32% 978,215 $9.7M
7 Greatmark Investment Partners, INC. 0.29% 248,750 $2.5M
8 Cutler Capital Management, LLC 0.23% 86,117 $850K
9 Leo Wealth, LLC 0.23% 319,284 $3.2M
10 Melfa Wealth Management, INC. 0.21% 37,360 $369K
11 Burford Brothers, Inc. 0.19% 46,421 $458K
12 N.E.W. Advisory Services LLC 0.17% 229,958 $2.3M
13 Closed-End Fund Advisors, Inc. 0.14% 13,663 $135K
14 Claro Advisors Inc. 0.13% 112,530 $1.1M
15 Tyche Wealth Partners LLC 0.12% 82,098 $810K
16 Guggenheim Capital LLC 0.09% 1,160,952 $11.5M
17 Carroll Advisory Group, LLC 0.09% 22,645 $224K
18 Mackay Shields LLC 0.08% 209,167 $2.1M
19 LexAurum Advisors, LLC 0.07% 54,940 $542K
20 Kercheville Advisors, LLC 0.07% 22,143 $219K
21 Catalina Capital Group, LLC 0.07% 11,104 $110K
22 Calton & Associates, INC. 0.06% 42,637 $421K
23 Sovereign Financial Group, Inc. 0.05% 30,869 $305K
24 WealthBridge Capital Management, LLC 0.05% 22,500 $222K
25 Zullo Investment Group, Inc. 0.05% 13,500 $133K
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?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added VGM than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for VGM?

More buyers than sellers — 60% buying: Last quarter: 55 funds were net buyers (19 opened a brand new position + 36 added to an existing one). Only 37 were sellers (26 trimmed + 11 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for VGM holders?

Strong quality — 38% AUM from major funds: 16 of 109 holders rank in the top 100 by AUM, accounting for 38% 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?

61% of holders stayed for 2+ years: 67 out of 109 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.

Is it too late to buy Invesco Tr Invt Grade Muns (VGM) following the 2026 Q1 hedge fund 13F filings?

As of today, VGM has moved -1.3% since the 2026 Q1 13F filing date (May 15, 2026), compared to +5.8% for the XLF sector ETF — an outperformance of -7.1%. Since the quarter end (March 31, 2026), VGM has gained +4.1% vs +9.5% for XLF. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

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.

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