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First Trust Managed Municipal ETF
FMB

181 hedge funds and large institutions have $756M invested in First Trust Managed Municipal ETF in 2019 Q4 according to their latest regulatory filings, with 55 funds opening new positions, 90 increasing their positions, 19 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

817% more first-time investments, than exits

New positions opened: 55 | Existing positions closed: 6

374% more repeat investments, than reductions

Existing positions increased: 90 | Existing positions reduced: 19

60% more funds holding in top 10

Funds holding in top 10: 5 → 8 (+3)

35% more funds holding

Funds holding: 134 → 181 (+47)

22% more capital invested

Capital invested by funds: $621M → $756M (+$134M)

2.47% more ownership

Funds ownership: 58.68% → 61.15% (+2.5%)

Holders
181
Holders Change
+47
Holders Change %
+35.07%
% of All Funds
3.57%
Holding in Top 10
8
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+60%
% of All Funds
0.16%
New
55
Increased
90
Reduced
19
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Wells Fargo
Wells Fargo
California
+$15.5M
2
Bank of America
Bank of America
North Carolina
+$12M
3
Morgan Stanley
Morgan Stanley
New York
+$9.36M
4
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$9.23M
5
LPL Financial
LPL Financial
California
+$8.34M

Top Sellers

Rank Fund Capital Flow
1
SFS
Sowell Financial Services
Arkansas
-$2.41M
2
CAPTRUST Financial Advisors
CAPTRUST Financial Advisors
North Carolina
-$2.17M
3
NFG
Next Financial Group
Texas
-$1.29M
4
PCM
Prelude Capital Management
New York
-$473K
5
NWM
Northwest Wealth Management
Iowa
-$453K
Name Holding Trade Value Shares
Change 		Change in
Stake
PAG
26
Private Advisor Group
New Jersey
$5.38M +$1.39M +25,123 +35%
Cambridge Investment Research Advisors
27
Cambridge Investment Research Advisors
Iowa
$5.33M +$1.05M +18,885 +24%
Envestnet Asset Management
28
Envestnet Asset Management
Illinois
$5.25M +$1.88M +33,898 +56%
SEIA
29
Signature Estate & Investment Advisors
California
$5.24M +$638K +11,506 +14%
Jane Street
30
Jane Street
New York
$5.13M +$201K +3,630 +4%
BCP
31
Blackhawk Capital Partners
Wisconsin
$5.05M – – –
FHC
32
First Heartland Consultants
Missouri
$4.71M +$1.46M +26,246 +45%
GIA
33
Gladstone Institutional Advisory
Florida
$4.51M +$98.8K +1,782 +2%
TPW
34
TL Private Wealth
Texas
$3.91M +$3.84M +69,247 New
ECM
35
ETrade Capital Management
Virginia
$3.32M +$948K +17,098 +40%
SCA
36
Snowden Capital Advisors
New York
$3.3M +$282K +5,076 +9%
BFG
37
Barber Financial Group
Kansas
$3.23M +$212K +3,815 +7%
MI
38
Moneywise Inc
Virginia
$3.22M +$291K +5,250 +10%
BRC
39
BHF RG Capital
Arizona
$3.08M +$3.08M +55,523 New
IA
40
IFG Advisory
Georgia
$3.03M +$323K +5,830 +12%
Baird Financial Group
41
Baird Financial Group
Wisconsin
$3.03M +$603K +10,875 +25%
TCWM
42
Total Clarity Wealth Management
Illinois
$2.94M +$2.94M +52,966 New
SPIA
43
Steward Partners Investment Advisory
New York
$2.88M +$129K +2,327 +5%
APWM
44
Atlas Private Wealth Management
New York
$2.78M +$2.78M +50,120 New
MA
45
Mutual Advisors
Nebraska
$2.65M -$172K -3,108 -6%
Stifel Financial
46
Stifel Financial
Missouri
$2.64M +$421K +7,598 +19%
APA
47
American Portfolios Advisors
New York
$2.58M +$659K +11,875 +34%
FEG
48
Financial Enhancement Group
Indiana
$2.56M +$74.1K +1,335 +3%
Janney Montgomery Scott
49
Janney Montgomery Scott
Pennsylvania
$2.44M +$382K +6,889 +19%
LI
50
LVZ Inc
Michigan
$2.44M -$108K -1,956 -4%
1
2
3 4 5

FMB Hedge Fund Activity: Q4 2019 in Review

181 of the 5,075 institutional investors tracked by Wall St. Rank reported a position in First Trust Managed Municipal ETF (FMB) for Q4 2019, worth a combined $756M — up 22% from $621M a quarter earlier.

Buyers outnumbered sellers: 55 funds opened new FMB positions and 6 closed out — a net gain of 49 holders — while 90 added to existing stakes and 19 trimmed.

The largest buyer was Wells Fargo, adding an estimated $15.5M. The largest seller was Sowell Financial Services, cutting an estimated $2.41M.

  • 181 institutional investors held First Trust Managed Municipal ETF (FMB) as of Q4 2019, up from 134 in Q3 2019.
  • Funds reported $756M of First Trust Managed Municipal ETF stock for Q4 2019, up 22% quarter-over-quarter.
  • 55 funds opened new First Trust Managed Municipal ETF positions in Q4 2019 and 6 closed out, a net change of +49 holders.
  • The largest First Trust Managed Municipal ETF buyer in Q4 2019 was Wells Fargo, an estimated $15.5M added.
  • The largest First Trust Managed Municipal ETF seller in Q4 2019 was Sowell Financial Services, an estimated $2.41M sold.

Based on aggregated 13F filings for Q4 2019.