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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
GVAG
51
Great Valley Advisor Group
Delaware
$2.3M +$551K +9,933 +32%
WC
52
Whitnell & Co
Illinois
$2.29M +$255K +4,598 +13%
CCA
53
Clearwater Capital Advisors
Illinois
$2.28M -$27.7K -499 -1%
SCM
54
Smith Capital Management
Arkansas
$2.24M +$802K +14,460 +56%
HighTower Advisors
55
HighTower Advisors
Illinois
$2.23M +$820K +14,784 +58%
LA
56
LexAurum Advisors
Kansas
$2.17M +$197K +3,556 +10%
AC
57
Avestar Capital
New York
$2.01M -$125K -2,251 -6%
AIC
58
Ameritas Investment Company
Nebraska
$1.97M +$777K +14,009 +65%
NA
59
NewEdge Advisors
Louisiana
$1.83M +$161K +2,901 +10%
AI
60
Atria Investments
North Carolina
$1.76M +$1.76M +31,778 New
NWM
61
Northwest Wealth Management
Iowa
$1.75M -$453K -8,161 -21%
TFS
62
Thoroughbred Financial Services
Tennessee
$1.65M – – –
WCFA
63
Walkner Condon Financial Advisors
Wisconsin
$1.62M +$1.62M +29,149 New
UR
64
USCA RIA
Texas
$1.61M +$20.2K +365 +1%
PPWM
65
PFG Private Wealth Management
Florida
$1.6M +$1.6M +28,876 New
SW
66
SteelPeak Wealth
California
$1.59M +$1.59M +28,592 New
SWP
67
Stratos Wealth Partners
Ohio
$1.5M +$619K +11,163 +71%
FAIM
68
Financial Advocates Investment Management
Washington
$1.43M +$141K +2,537 +11%
EH
69
Equitable Holdings
New York
$1.42M +$1.42M +25,540 New
MMHP
70
Murphy Middleton Hinkle & Parker
Georgia
$1.42M +$166 +3 +0%
WFG
71
Wills Financial Group
Virginia
$1.38M +$1.38M +24,865 New
MAP
72
Milestone Advisory Partners
North Carolina
$1.32M +$513K +9,255 +64%
LSPW
73
Lake Street Private Wealth
Illinois
$1.3M +$798K +14,382 +160%
GIM
74
Greenwich Investment Management
Connecticut
$1.28M -$20K -360 -2%
FAAS
75
First Allied Advisory Services
California
$1.28M +$170K +3,065 +15%
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.