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First Trust Managed Municipal ETF
FMB

192 hedge funds and large institutions have $866M invested in First Trust Managed Municipal ETF in 2020 Q1 according to their latest regulatory filings, with 30 funds opening new positions, 97 increasing their positions, 44 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

120% more repeat investments, than reductions

Existing positions increased: 97 | Existing positions reduced: 44

114% more first-time investments, than exits

New positions opened: 30 | Existing positions closed: 14

25% more funds holding in top 10

Funds holding in top 10: 8 → 10 (+2)

15% more capital invested

Capital invested by funds: $756M → $866M (+$110M)

6% more funds holding

Funds holding: 181 → 192 (+11)

1.79% more ownership

Funds ownership: 61.15% → 62.94% (+1.8%)

Holders
192
Holders Change
+11
Holders Change %
+6.08%
% of All Funds
4.23%
Holding in Top 10
10
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+25%
% of All Funds
0.22%
New
30
Increased
97
Reduced
44
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
PAG
Pinnacle Advisory Group
Maryland
+$23.3M
2
Jane Street
Jane Street
New York
+$21.2M
3
Bank of America
Bank of America
North Carolina
+$15.1M
4
RJA
Raymond James & Associates
Florida
+$7.47M
5
SS
Simplicity Solutions
Minnesota
+$6.87M

Top Sellers

Rank Fund Capital Flow
1
IAA
Independent Advisor Alliance
North Carolina
-$6.39M
2
UBS Group
UBS Group
Switzerland
-$3.9M
3
LA
LexAurum Advisors
Kansas
-$2.17M
4
MML Investors Services
MML Investors Services
Massachusetts
-$1.53M
5
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
-$1.4M
Name Holding Trade Value Shares
Change 		Change in
Stake
GWM
126
Geneos Wealth Management
Colorado
$489K -$43.5K -783 -8%
ASN
127
Advisory Services Network
Georgia
$483K +$138K +2,488 +39%
LFG
128
Larson Financial Group
Missouri
$478K -$220K -3,962 -31%
SPC
129
Sigma Planning Corp
Michigan
$475K -$41.2K -741 -8%
DWM
130
Doyle Wealth Management
Florida
$471K +$188K +3,385 +64%
LS
131
Leelyn Smith
Illinois
$459K +$129K +2,316 +38%
WEC
132
Winslow Evans & Crocker
Massachusetts
$454K -$19.2K -346 -4%
PA
133
PFG Advisors
Arizona
$453K -$6K -108 -1%
WWM
134
Western Wealth Management
Colorado
$423K +$54.6K +983 +14%
CCFM
135
Clear Creek Financial Management
Washington
$421K +$156K +2,806 +56%
ACA
136
Aptus Capital Advisors
Alabama
$420K – – –
BRWM
137
B. Riley Wealth Management
Tennessee
$407K +$155K +2,785 +59%
BFA
138
Brendel Financial Advisors
New Hampshire
$398K – – –
FSG
139
Financial Strategies Group
Michigan
$393K +$124K +2,225 +44%
AWA
140
Arete Wealth Advisors
Illinois
$372K -$76.3K -1,373 -17%
APW
141
Aurora Private Wealth
New Jersey
$372K +$382K +6,873 New
AIS
142
Accurate Investment Solutions
Pennsylvania
$339K – – –
SFS
143
Sowell Financial Services
Arkansas
$323K +$223K +4,012 +204%
PNC Financial Services Group
144
PNC Financial Services Group
Pennsylvania
$304K +$28.3K +509 +10%
PA
145
Paragon Advisors
Texas
$301K +$310K +5,575 New
BWM
146
BT Wealth Management
Georgia
$300K -$152K -2,740 -33%
LFAS
147
Level Four Advisory Services
Texas
$300K +$308K +5,545 New
WI
148
Wintrust Investments
Illinois
$299K +$307K +5,525 New
FHA
149
Flagship Harbor Advisors
Massachusetts
$281K +$278K +5,000 +2,500%
US Bancorp
150
US Bancorp
Minnesota
$276K +$8.56K +154 +3%
4 5
6
7 8

FMB Hedge Fund Activity: Q1 2020 in Review

192 of the 4,538 institutional investors tracked by Wall St. Rank reported a position in First Trust Managed Municipal ETF (FMB) for Q1 2020, worth a combined $866M — up 15% from $756M a quarter earlier.

Buyers outnumbered sellers: 30 funds opened new FMB positions and 14 closed out — a net gain of 16 holders — while 97 added to existing stakes and 44 trimmed.

The largest buyer was Pinnacle Advisory Group, opening a new position worth an estimated $23.3M. The largest seller was Independent Advisor Alliance, exiting entirely with an estimated $6.39M sold.

  • 192 institutional investors held First Trust Managed Municipal ETF (FMB) as of Q1 2020, up from 181 in Q4 2019.
  • Funds reported $866M of First Trust Managed Municipal ETF stock for Q1 2020, up 15% quarter-over-quarter.
  • 30 funds opened new First Trust Managed Municipal ETF positions in Q1 2020 and 14 closed out, a net change of +16 holders.
  • The largest First Trust Managed Municipal ETF buyer in Q1 2020 was Pinnacle Advisory Group, an estimated $23.3M added.
  • The largest First Trust Managed Municipal ETF seller in Q1 2020 was Independent Advisor Alliance, an estimated $6.39M sold.

Based on aggregated 13F filings for Q1 2020.