First Trust Managed Municipal ETF
296 hedge funds and large institutions have $1.52B invested in First Trust Managed Municipal ETF in 2026 Q1 according to their latest regulatory filings, with 20 funds opening new positions, 142 increasing their positions, 91 reducing their positions, and 21 closing their positions.
56% more repeat investments, than reductions
Existing positions increased: 142 | Existing positions reduced: 91
1% more capital invested
Capital invested by funds: $1.5B → $1.52B (+$22.5M)
0.44% more ownership
Funds ownership: 77.49% → 77.93% (+0.44%)
5% less first-time investments, than exits
New positions opened: 20 | Existing positions closed: 21
3% less funds holding
Funds holding: 306 → 296 (-10)
67% less funds holding in top 10
Funds holding in top 10: 3 → 1 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$20.3M |
| 2 |
IAA
Independent Advisor Alliance
Charlotte,
North Carolina
|
+$12M |
| 3 |
Bank of America
Charlotte,
North Carolina
|
+$11.4M |
| 4 |
OIA
OneDigital Investment Advisors
Overland Park,
Kansas
|
+$8.52M |
| 5 |
FPAS
Focus Partners Advisor Solutions
Saint Louis,
Missouri
|
+$6.96M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MMA
Miracle Mile Advisors
Los Angeles,
California
|
-$46.7M |
| 2 |
TFP
TrueWealth Financial Partners
Bellevue,
Washington
|
-$12.7M |
| 3 |
Jane Street
New York
|
-$5.56M |
| 4 |
FFG
Frisch Financial Group
Melville,
New York
|
-$3.92M |
| 5 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$2.27M |
FMB Hedge Fund Activity: Q1 2026 in Review
296 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in First Trust Managed Municipal ETF (FMB) for Q1 2026, worth a combined $1.52B — up 1.5% from $1.5B a quarter earlier.
Sellers outnumbered buyers: 21 funds closed out of FMB and 20 opened new positions — a net loss of 1 holder — while 91 trimmed existing stakes and 142 added.
The largest buyer was Morgan Stanley, adding an estimated $20.3M. The largest seller was Miracle Mile Advisors, cutting an estimated $46.7M.
- 296 institutional investors held First Trust Managed Municipal ETF (FMB) as of Q1 2026, down from 306 in Q4 2025.
- Funds reported $1.52B of First Trust Managed Municipal ETF stock for Q1 2026, up 1.5% quarter-over-quarter.
- 20 funds opened new First Trust Managed Municipal ETF positions in Q1 2026 and 21 closed out, a net change of -1 holder.
- The largest First Trust Managed Municipal ETF buyer in Q1 2026 was Morgan Stanley, an estimated $20.3M added.
- The largest First Trust Managed Municipal ETF seller in Q1 2026 was Miracle Mile Advisors, an estimated $46.7M sold.
Based on aggregated 13F filings for Q1 2026.