First Trust Managed Municipal ETF
27 hedge funds and large institutions have $38.7M invested in First Trust Managed Municipal ETF in 2016 Q4 according to their latest regulatory filings, with 5 funds opening new positions, 14 increasing their positions, 6 reducing their positions, and 11 closing their positions.
133% more repeat investments, than reductions
Existing positions increased: 14 | Existing positions reduced: 6
47.27% more ownership
Funds ownership: 0% → 47.27% (+47%)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
14% less capital invested
Capital invested by funds: $44.8M → $38.7M (-$6.08M)
18% less funds holding
Funds holding: 33 → 27 (-6)
55% less first-time investments, than exits
New positions opened: 5 | Existing positions closed: 11
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$5.15M |
| 2 |
LPL Financial
San Diego,
California
|
+$2.52M |
| 3 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
+$570K |
| 4 |
CCA
Clearwater Capital Advisors
Hoffman Estates,
Illinois
|
+$364K |
| 5 |
UR
USCA RIA
Houston,
Texas
|
+$345K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FAAS
First Allied Advisory Services
San Diego,
California
|
-$3.26M |
| 2 |
FHC
First Heartland Consultants
Lake St. Louis,
Missouri
|
-$2.63M |
| 3 |
Citadel Advisors
Miami,
Florida
|
-$2.38M |
| 4 |
Bank of America
Charlotte,
North Carolina
|
-$1.78M |
| 5 |
Jane Street
New York
|
-$1.24M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
BFEC
26
Benjamin F. Edwards & Company
St. Louis,
Missouri
| $16K | +$16.7K | +320 | New |
|
|
SFS
27
Sowell Financial Services
North Little Rock,
Arkansas
| $5K | +$5.23K | +100 | New |
|
|
FAAS
28
First Allied Advisory Services
San Diego,
California
| – | -$3.26M | -60,368 | Closed |
|
|
29
Citadel Advisors
Miami,
Florida
| – | -$2.38M | -44,059 | Closed |
|
|
30
Jane Street
New York
| – | -$1.24M | -23,006 | Closed |
|
|
VKH
31
Virtu KCG Holdings
New York
| – | -$696K | -12,863 | Closed |
|
32
Cambridge Investment Research Advisors
Fairfield,
Iowa
| – | -$539K | -9,986 | Closed |
|
33
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| – | -$493K | -9,111 | Closed |
|
|
PAG
34
Private Advisor Group
Morristown,
New Jersey
| – | -$360K | -6,670 | Closed |
|
|
CFC
35
Coyle Financial Counsel
Glenview,
Illinois
| – | -$311K | -5,800 | Closed |
|
36
UBS Group
Zurich,
Switzerland
| – | -$71K | -1,315 | Closed |
|
|
CTC
37
Central Trust Company
Jefferson City,
Missouri
| – | -$22K | -400 | Closed |
|
|
TRCT
38
Tower Research Capital (TRC)
New York
| – | -$21K | -395 | Closed |
|
FMB Hedge Fund Activity: Q4 2016 in Review
27 of the 4,000 institutional investors tracked by Wall St. Rank reported a position in First Trust Managed Municipal ETF (FMB) for Q4 2016, worth a combined $38.7M — down 14% from $44.8M a quarter earlier.
Sellers outnumbered buyers: 11 funds closed out of FMB and 5 opened new positions — a net loss of 6 holders — while 6 trimmed existing stakes and 14 added.
The largest buyer was Morgan Stanley, adding an estimated $5.15M. The largest seller was First Allied Advisory Services, exiting entirely with an estimated $3.26M sold.
- 27 institutional investors held First Trust Managed Municipal ETF (FMB) as of Q4 2016, down from 33 in Q3 2016.
- Funds reported $38.7M of First Trust Managed Municipal ETF stock for Q4 2016, down 14% quarter-over-quarter.
- 5 funds opened new First Trust Managed Municipal ETF positions in Q4 2016 and 11 closed out, a net change of -6 holders.
- The largest First Trust Managed Municipal ETF buyer in Q4 2016 was Morgan Stanley, an estimated $5.15M added.
- The largest First Trust Managed Municipal ETF seller in Q4 2016 was First Allied Advisory Services, an estimated $3.26M sold.
Based on aggregated 13F filings for Q4 2016.