SCHEDULE 13G/A: Bank of New York Mellon Discloses 16.8% Stake in Invesco Russell 2000 Dynamic Multifactor ETF

Bank of New York Mellon Corporation and its subsidiaries have filed an amended Schedule 13G, disclosing a collective beneficial ownership of 16.8% in the Invesco Russell 2000 Dynamic Multifactor ETF.

Summary

• The Bank of New York Mellon Corporation and its direct and indirect subsidiaries, including BNY Mellon IHC, LLC, MBC Investments Corp, and BNY Mellon Advisors, Inc., have filed an Amendment No. 3 to Schedule 13G.
• The filing pertains to their beneficial ownership in the Invesco Russell 2000 Dynamic Multifactor ETF, a class of securities under the Invesco Exchange-Traded Self-Indexed Fund Trust.
• As of the event date of February 28, 2025, the aggregate amount beneficially owned by The Bank of New York Mellon Corporation is 1,024,831.00 shares, representing 16.8% of the class.
• The Bank of New York Mellon Corporation holds sole voting power over 1,017,363.00 shares and shared dispositive power over 1,024,829.00 shares.
• BNY Mellon IHC, LLC, MBC Investments Corp, and BNY Mellon Advisors, Inc. each report beneficial ownership of 1,024,829.00 shares, also representing 16.8% of the class.
• The filing states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership, indicating a neutral sentiment. It does not contain positive or negative performance indicators or strategic announcements.

Future Outlook

This Schedule 13G filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance regarding the issuer's future performance or the reporting entities' investment strategy beyond the stated passive intent.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

This filing is a routine disclosure by a large financial institution, The Bank of New York Mellon Corporation, indicating its significant, but passive, investment in an Exchange-Traded Fund (ETF). Such filings are common for institutional investors holding more than 5% of a company's shares, particularly for ETFs which are designed to track an index or specific market segment. The 'passive' nature of the filing (Rule 13d-1(b)) signifies that the investment is for portfolio purposes rather than to exert control over the issuer, which is typical for large asset managers investing in ETFs.

Related Party Transactions

• The Bank of New York Mellon Corporation and its direct or indirect subsidiaries (BNY Mellon IHC, LLC, MBC Investments Corp, BNY Mellon Advisors, Inc., Pershing LLC, etc.) are reporting beneficial ownership in their various fiduciary capacities. All reported securities are beneficially owned by these entities, and another entity in every instance is entitled to dividends or proceeds of sale.

Stakeholder Impact

• Shareholders of Invesco Russell 2000 Dynamic Multifactor ETF are informed of a significant institutional ownership stake by The Bank of New York Mellon Corporation and its affiliates, which may provide a sense of stability or institutional confidence in the ETF.
• The filing clarifies that the ownership is for passive investment purposes, indicating no intent to influence or change control of the issuer, which reassures existing management and other investors.

Key Dates

Keywords

Schedule 13G, Beneficial Ownership, Invesco Russell 2000 Dynamic Multifactor ETF, Invesco Exchange-Traded Self-Indexed Fund Trust, Bank of New York Mellon Corporation, ETF, Investment Adviser, Passive Investment