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First Trust Managed Municipal ETF
FMB

64 hedge funds and large institutions have $150M invested in First Trust Managed Municipal ETF in 2017 Q4 according to their latest regulatory filings, with 24 funds opening new positions, 26 increasing their positions, 8 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

500% more first-time investments, than exits

New positions opened: 24 | Existing positions closed: 4

225% more repeat investments, than reductions

Existing positions increased: 26 | Existing positions reduced: 8

47% more capital invested

Capital invested by funds: $102M → $150M (+$47.6M)

45% more funds holding

Funds holding: 44 → 64 (+20)

15.66% more ownership

Funds ownership: 53.25% → 68.91% (+16%)

Holders
64
Holders Change
+20
Holders Change %
+45.45%
% of All Funds
1.45%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.02%
New
24
Increased
26
Reduced
8
Closed
4
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Morgan Stanley
Morgan Stanley
New York
+$11.1M
2
Bank of America
Bank of America
North Carolina
+$5.34M
3
LPT
Legacy Private Trust
Wisconsin
+$3.83M
4
RJFSA
Raymond James Financial Services Advisors
Florida
+$3.55M
5
UBS Group
UBS Group
Switzerland
+$2.84M

Top Sellers

1
IH
IFC Holdings
Florida
-$4.11M
2
ACM
Aviance Capital Management
Florida
-$896K
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$676K
4
Goldman Sachs
Goldman Sachs
New York
-$357K
5
CP
Camelot Portfolios
Ohio
-$227K
Name Holding Trade Value Shares
Change 		Change in
Stake
Morgan Stanley
1
Morgan Stanley
New York
$37.8M +$11.1M +207,773 +42%
Bank of America
2
Bank of America
North Carolina
$29.2M +$5.34M +100,060 +22%
RJA
3
Raymond James & Associates
Florida
$12.2M +$2.07M +38,876 +20%
LPL Financial
4
LPL Financial
California
$8.42M +$2.26M +42,394 +37%
ACM
5
Aviance Capital Management
Florida
$7.24M -$896K -16,795 -11%
EIA
6
Eldridge Investment Advisors
New Hampshire
$5.43M +$5.42M +101,641 New
RJFSA
7
Raymond James Financial Services Advisors
Florida
$4.3M +$3.55M +66,471 +476%
UBS Group
8
UBS Group
Switzerland
$3.99M +$2.84M +53,262 +251%
LPT
9
Legacy Private Trust
Wisconsin
$3.84M +$3.83M +71,700 New
Cetera Investment Advisers
10
Cetera Investment Advisers
Illinois
$3.67M +$1.88M +35,188 +105%
Jane Street
11
Jane Street
New York
$2.87M +$476K +8,919 +20%
Royal Bank of Canada
12
Royal Bank of Canada
Ontario, Canada
$2.48M +$221K +4,146 +10%
AC
13
Avestar Capital
New York
$1.67M +$1.67M +31,269 New
CCA
14
Clearwater Capital Advisors
Illinois
$1.64M +$396K +7,420 +32%
FAAS
15
First Allied Advisory Services
California
$1.64M +$185K +3,460 +13%
CAPTRUST Financial Advisors
16
CAPTRUST Financial Advisors
North Carolina
$1.54M – – –
MMHP
17
Murphy Middleton Hinkle & Parker
Georgia
$1.53M +$1.53M +28,593 New
AG
18
Advisor Group
Arizona
$1.23M +$765K +14,347 +168%
SCA
19
Snowden Capital Advisors
New York
$1.15M +$1.15M +21,576 New
UR
20
USCA RIA
Texas
$1.14M +$353K +6,607 +45%
Commonwealth Equity Services
21
Commonwealth Equity Services
Massachusetts
$1.03M +$488K +9,144 +91%
Baird Financial Group
22
Baird Financial Group
Wisconsin
$1.02M +$1.02M +19,075 New
BCP
23
Blackhawk Capital Partners
Wisconsin
$1M +$1,000K +18,737 New
FA
24
FMA Advisory
Pennsylvania
$918K +$199K +3,737 +28%
PCM
25
Prelude Capital Management
New York
$910K +$908K +17,012 New
1
2 3

FMB Hedge Fund Activity: Q4 2017 in Review

64 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in First Trust Managed Municipal ETF (FMB) for Q4 2017, worth a combined $150M — up 47% from $102M a quarter earlier.

Buyers outnumbered sellers: 24 funds opened new FMB positions and 4 closed out — a net gain of 20 holders — while 26 added to existing stakes and 8 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $11.1M. The largest seller was IFC Holdings, exiting entirely with an estimated $4.11M sold.

  • 64 institutional investors held First Trust Managed Municipal ETF (FMB) as of Q4 2017, up from 44 in Q3 2017.
  • Funds reported $150M of First Trust Managed Municipal ETF stock for Q4 2017, up 47% quarter-over-quarter.
  • 24 funds opened new First Trust Managed Municipal ETF positions in Q4 2017 and 4 closed out, a net change of +20 holders.
  • The largest First Trust Managed Municipal ETF buyer in Q4 2017 was Morgan Stanley, an estimated $11.1M added.
  • The largest First Trust Managed Municipal ETF seller in Q4 2017 was IFC Holdings, an estimated $4.11M sold.

Based on aggregated 13F filings for Q4 2017.