Invesco BulletShares 2028 Municipal Bond selling pressure

What happened: Invesco's BulletShares 2028 Municipal Bond ETF (BSCS) saw increased buying activity in Q1 2023. Red Spruce Capital boosted its holding by 235,496 shares, an estimated $4.84 million investment. Meanwhile, Anchor bought 1,104,643 shares of Invesco's BulletShares 2029 Corporate Bond ETF (BSCK), valuing its stake at $21.3 million. However, BSCS's RSI reading hit 28.3, indicating heavy selling pressure.

Market impact: These purchases drive up demand for these ETFs, potentially pushing up their prices. The increased interest in BSCK, a corporate bond ETF, could signal a shift towards corporate bonds over municipals. The heavy selling in BSCS, however, suggests a cautious outlook on municipal bonds.

What to watch next: Investors should monitor BSCS's trading activity around its next earnings date (Q2 2023) to gauge sentiment. Additionally, the upcoming economic data releases, such as GDP growth rates and inflation reports, could influence the demand for these bond ETFs. Lastly, keep an eye on the RSI levels to assess if the selling pressure in BSCS is indeed exhausting.