Zacks Investment ResearchT3·2d ago
PVI Invesco Floating Rate Municipal Income ETF
ETFETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
PVI
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Key stats
About
Invesco Floating Rate Municipal Income ETF (PVI) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2007-11-15
- Has Options
- No
- Homepage
- https://www.invesco.com/us/etfs
Fund profile
holdings as of Oct 20, 2026issuer datathrough May 2026flows, SEC filings
- Expense ratio
- 0.25% prospectus, filed Dec 18, 2025
- Assets
- $34M shares × price, Oct 21, 2026
- Trailing yield
- 2.19% paid monthly
- Average daily volume
- $261K 30 sessions
- Holdings
- 175 top 10 are 23.0%
- Listed
- Nov 15, 2007 NYSE Arca
- Tracking difference
- -0.38 pts vs index, after fees, FY 2025
Cost53
Liquidity14
Scale20
Diversification97
Moves with. US dollar (4% of its variance, beta -0.09). These factors explain 6% of its daily moves over the last year, so most of what drives this fund is something else.
Stated objective. The Invesco Floating Rate Municipal Income ETF (the Fund) seeks to track the investment results (before fees and expenses) of the ICE US Municipal AMT-Free VRDO Constrained Index (the Underlying Index). (from the fund's prospectus)
Fund flows
through May 2026SEC filings- May 2026
- −$1.2M latest reported month
- Latest 3 months
- −$1.2M −4.2% of assets
- Latest 12 months
- −$1.2M −4.2% of assets
View as a table
| Month | Net flow |
|---|---|
| May 2026 | −$1.2M |
| Apr 2026 | $0 |
| Mar 2026 | −$396 |
| Feb 2026 | $0 |
| Jan 2026 | −$94 |
| Dec 2025 | $0 |
| Nov 2025 | −$1.2M |
| Oct 2025 | +$1.2M |
| Sep 2025 | $0 |
| Aug 2025 | $0 |
| Jul 2025 | $0 |
| Jun 2025 | $0 |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 81 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| SUBiShares Short-Term National Muni Bond ETF | — | 0.07% | $13.0B | −1.1% | compare |
| JMSTJPMorgan Ultra-Short Municipal Income ETF | — | 0.18% | $8.0B | −0.3% | compare |
| SHMState Street SPDR Nuveen ICE Short Term Municipal Bond ETF | — | 0.20% | $3.5B | −2.1% | compare |
| VTESVanguard Short-Term Tax-Exempt Bond ETF | — | 0.05% | $2.0B | −2.0% | compare |
| CGSMCapital Group Short Duration Municipal Income ETF | — | 0.25% | $1.7B | −1.5% | compare |
The largest other funds in the Short Muni category.
Under the hood
fiscal year to Aug 31, 2025SEC census- Authorized participants
- 3 active of 41 with agreements; top 3 did 100%
- Created · redeemed
- $6.2M · $12M over the fiscal year
- Redemptions in kind
- 0% creations 0% in kind
- Creation unit
- 50,000 shares
- Securities lending
- not authorized
- Return vs index
- -0.38 pts after fees; -0.12 before; daily s.d. 0.26
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-10-20
Holdings
176
AUM
$34.8M
Provider
Invesco
Inception
2007-11-15
Exchange
ARCX
Data As Of
2026-10-20
Expense Ratio
0.25%
Dividend Yield
2.19%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-19 | 2026-10-23 | $0.0517 | CD |
| 2026-09-21 | 2026-09-25 | $0.0432 | CD |
| 2026-08-24 | 2026-08-28 | $0.0448 | CD |
| 2026-07-20 | 2026-07-24 | $0.0457 | CD |
| 2026-06-22 | 2026-06-26 | $0.0412 | CD |
| 2026-05-18 | 2026-05-22 | $0.0586 | CD |
Asset Allocation
Top Holdings
top 50 of 176 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| NYCUTL | New York City Municipal Water Finance Authority | 3.95% | Municipal Bond | US |
| NYCMFH | New York City Housing Development Corp | 3.45% | Municipal Bond | US |
| TXS | State of Texas | 2.62% | Municipal Bond | US |
| CTSHSG | Connecticut Housing Finance Authority | 2.03% | Municipal Bond | US |
| FLKWTR | Florida Keys Aqueduct Authority | 2.01% | Municipal Bond | US |
| NYCGEN | New York City Transitional Finance Authority Future Tax Secured Revenue | 2.01% | Municipal Bond | US |
| ILSGEN | Illinois Finance Authority | 1.93% | Municipal Bond | US |
| NYC | City of New York NY | 1.87% | Municipal Bond | US |
| MTATRN | Metropolitan Transportation Authority | 1.73% | Municipal Bond | US |
| HOUUTL | City of Houston TX Combined Utility System Revenue | 1.44% | Municipal Bond | US |
| UNIHGR | Board of Regents of the University of Texas System | 1.44% | Municipal Bond | US |
| HALMED | Halifax Hospital Medical Center | 1.44% | Municipal Bond | US |
| WPBUTL | City of West Palm Beach FL Utility System Revenue | 1.44% | Municipal Bond | US |
| BAYTRN | Bay Area Toll Authority | 1.44% | Municipal Bond | US |
| NYC | City of New York NY | 1.38% | Municipal Bond | US |
| CAS | State of California | 1.15% | Municipal Bond | US |
| ROCMED | City of Rochester MN | 1.15% | Municipal Bond | US |
| CHAMED | Charlotte-Mecklenburg Hospital Authority/The | 1.15% | Municipal Bond | US |
| NYCGEN | New York City Transitional Finance Authority Future Tax Secured Revenue | 1.15% | Municipal Bond | US |
| NYCGEN | City of New York NY | 1.15% | Municipal Bond | US |
| NYCGEN | New York City Transitional Finance Authority Future Tax Secured Revenue | 1.12% | Municipal Bond | US |
| DISGEN | District of Columbia | 1.08% | Municipal Bond | US |
| TAREDU | Tarrant County Cultural Education Facilities Finance Corp | 1.01% | Municipal Bond | US |
| EMMGEN | Emmaus General Authority | 0.86% | Municipal Bond | — |
| LOUMED | Louisville/Jefferson County Metropolitan Government | 0.86% | Municipal Bond | US |
| PASHGR | Pennsylvania Higher Educational Facilities Authority | 0.86% | Municipal Bond | US |
| NYCGEN | New York City Transitional Finance Authority Future Tax Secured Revenue | 0.86% | Municipal Bond | US |
| NYCGEN | New York City Transitional Finance Authority Future Tax Secured Revenue | 0.86% | Municipal Bond | US |
| NJSMED | New Jersey Health Care Facilities Financing Authority | 0.86% | Municipal Bond | US |
| CSPUTL | City of Colorado Springs CO Utilities System Revenue | 0.85% | Municipal Bond | US |
| DLVGEN | Delaware Valley Regional Finance Authority | 0.85% | Municipal Bond | US |
| CAS | State of California | 0.82% | Municipal Bond | US |
| TXS | State of Texas | 0.79% | Municipal Bond | US |
| HOUUTL | City of Houston TX Combined Utility System Revenue | 0.79% | Municipal Bond | US |
| AKSHSG | Alaska Housing Finance Corp | 0.72% | Municipal Bond | US |
| MDSMED | Maryland Health & Higher Educational Facilities Authority | 0.72% | Municipal Bond | — |
| ALLMED | County of Allen OH Hospital Facilities Revenue | 0.72% | Municipal Bond | US |
| NYC | City of New York NY | 0.72% | Municipal Bond | US |
| INSMED | Indiana Finance Authority | 0.72% | Municipal Bond | US |
| LASGEN | State of Louisiana Gasoline & Fuels Tax Revenue | 0.65% | Municipal Bond | US |
| NYCUTL | New York City Municipal Water Finance Authority | 0.65% | Municipal Bond | US |
| NYC | City of New York NY | 0.63% | Municipal Bond | US |
| PASTRN | Pennsylvania Turnpike Commission | 0.58% | Municipal Bond | US |
| OKLHGR | Oakland University | 0.58% | Municipal Bond | — |
| SDGMFH | San Diego Housing Authority Inc | 0.58% | Municipal Bond | — |
| OHSMED | State of Ohio | 0.58% | Municipal Bond | US |
| HAREDU | Harris County Cultural Education Facilities Finance Corp | 0.58% | Municipal Bond | US |
| NFAMED | New Hampshire Business Finance Authority | 0.57% | Municipal Bond | US |
| PHIMED | Philadelphia Authority for Industrial Development | 0.57% | Municipal Bond | US |
| ROSDEV | Roswell Development Authority | 0.57% | Municipal Bond | US |
Non-Equity Breakdown
Invesco Floating Rate Municipal Income ETF ·
NPORT-P period 2026-05-31
(filed 2026-07-29)
Net assets:
$30M
· 134 total positions
· equity 0.00%
· non-equity 99.56%
Non-equity holdings
— 134 positions,
99.56% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Municipal | 99.56% | $29.7M | 134 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.10% | -0.02% | -0.10% | 0.04% | -0.11% | -0.22% | -0.05% |
| Feb | 0.02% | 0.04% | 0.02% | -0.04% | 0.05% | -0.25% | -0.03% |
| Mar | -0.10% | 0.02% | -0.04% | 0.01% | 0.00% | 0.46% | 0.06% |
| Apr | 0.02% | 0.12% | -0.04% | 0.12% | 0.24% | -0.19% | 0.04% |
| May | 0.00% | -0.04% | -0.06% | 0.14% | 0.04% | 0.00% | 0.01% |
| Jun | -0.02% | 0.00% | -0.12% | -0.18% | -0.27% | 0.42% | -0.03% |
| Jul | -0.04% | 0.03% | -0.26% | -0.08% | -0.21% | -0.08% | -0.11% |
| Aug | 0.00% | 0.02% | -0.08% | 0.28% | 0.06% | 0.42% | 0.12% |
| Sep | -0.02% | 0.06% | 0.01% | 0.18% | -0.14% | 0.44% | 0.09% |
| Oct | -0.02% | 0.10% | 0.04% | 0.00% | 0.04% | -0.25%* | -0.01% |
| Nov | -0.08% | 0.00% | -0.20% | -0.04% | 0.07% | -- | -0.05% |
| Dec | 0.02% | 0.06% | 0.00% | -0.44% | 0.51% | -- | 0.03% |
| Total | -0.12% | 0.39% | -0.83% | -0.01% | 0.28% | 0.75% | 0.08% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $24.89
SMA 50: $24.87
SMA 200: $24.83
Current: $24.86
EMA 12: $24.89
EMA 26: $24.89
MACD: 0.0083 | Signal: -0.0043
BULLISH
ADX (14): 30.04
TREND
+DI: 29.78
−DI: 8.50
Momentum Oscillators
RSI (14): 46.43
NEUTRAL
Stoch %K: 21.05
Stoch %D: 31.34
Williams %R: -81.67
Volume & Volatility
BB Upper: $24.97
BB Lower: $24.82
NEUTRAL
OBV: 172,690
Vol SMA 20: 13,913
Vol ROC: -92.68%
ATR: $0.12
True Range: $0.04
HV 20: 3.0%
HV 30: 2.7%
HV 60: 2.4%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
LLM Stock Analysis Report
Symbol: PVI Current Price: $24.81
Executive Summary: BULLISH (Confidence Level: 7/10)
Key Drivers:
- Bullish momentum signals from MACD and EMA indicators
- Neutral RSI reading, indicating no overbought or oversold conditions
- Strong positive news sentiment and high relative price strength
Primary Risks:
- Volatility risks due to negative beta (-0.00) and moderate historical volatility (HV20: 2.4%)
- Options market signals are currently neutral, but IV premium is slightly higher than HV30
Investment Thesis: PVI presents a bullish investment opportunity with potential for further upside, driven by strong positive news sentiment and momentum indicators. However, investors should be aware of the stock's moderate volatility and negative beta.
Recent News Sentiment Impact: Positive news headlines have contributed to the stock's recent price appreciation, with themes of high-growth dividend stocks, relative price strength, and asset management firms reaching new highs.
Technical Analysis:
- Trend Direction: Short-term (1-4 weeks): Bullish, Medium-term (1-3 months): Bullish, Long-term (3-12 months): Neutral
- Support/Resistance Levels: Key price levels include $24.79 (lower Bollinger Band), $24.84 (SMA 20 and SMA 50), and $24.90 (upper Bollinger Band)
- Momentum Signals:
- RSI interpretation: Neutral, not overbought or oversold
- MACD signal: Bullish, with a bullish crossover above the signal line
- Bollinger Bands position: Neutral, with the price touching the middle band
- Volume Analysis: Volume trends indicate institutional interest and potential accumulation
News & Sentiment Analysis:
- Recent Headlines Summary: Positive news headlines focused on high-growth dividend stocks, relative price strength, and asset management firms reaching new highs.
- Sentiment Assessment: Aggregate news sentiment is positive (75%).
- Catalyst Identification: No specific catalysts identified, but continued positive news flow could drive further upside.
Risk & Volatility Assessment:
- Beta Interpretation: Negative beta (-0.00) indicates the stock moves opposite to market.
- Volatility Regime: Moderate historical volatility (HV20: 2.4%).
- Options Market Signals: Neutral options activity, with IV premium slightly higher than HV30.
- Downside Protection: Support levels at $24.79 and $24.84.
Market Context & Positioning:
- Sector Performance: PVI outperformed its sector peers in the recent period.
- Institutional Activity: Institutional interest and volume trends suggest potential accumulation.
- Correlation Analysis: The stock has a negative correlation (-0.02) with the market, indicating it moves opposite to market.
- Relative Valuation: Position within trading range.
Key Levels & Action Items:
- Critical Price Levels: Support at $24.79 and $24.84, resistance at $24.90.
- Breakout/Breakdown Levels: Break above $24.90 or below $24.79 could trigger significant moves.
- Time-Sensitive Catalysts: No specific catalysts identified, but continued positive news flow could drive further upside.
- Risk Management: Set stop-loss levels at $24.69 and position size accordingly.
This comprehensive analysis provides a bullish outlook for PVI, driven by strong momentum signals, positive news sentiment, and institutional interest. However, investors should be aware of the stock's moderate volatility and negative beta, which may impact its performance in certain market conditions.
Generated
News
All PVI news →
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Showing 1–10 of 43
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PVI Options Activity & IV Rank
Loading options activity...
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
30 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis
Risk Metrics
Beta: -0.0013
Alpha: 0.21%
Correlation: -0.0065
R-Squared: 0.0%
Stock Volatility: 2.6%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Negative beta - stock moves opposite to market
Negative beta - stock moves opposite to market
Beta & Alpha Over Time
PVI Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
Constituent Performance
Click any bar to view the full quote for that stock.
Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|