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First Trust Managed Municipal ETF
FMB

94 hedge funds and large institutions have $289M invested in First Trust Managed Municipal ETF in 2018 Q4 according to their latest regulatory filings, with 21 funds opening new positions, 44 increasing their positions, 21 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

110% more repeat investments, than reductions

Existing positions increased: 44 | Existing positions reduced: 21

91% more first-time investments, than exits

New positions opened: 21 | Existing positions closed: 11

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

11% more funds holding

Funds holding: 85 → 94 (+9)

2.53% more ownership

Funds ownership: 56.01% → 58.54% (+2.5%)

7% less capital invested

Capital invested by funds: $310M → $289M (-$21.4M)

Holders
94
Holders Change
+9
Holders Change %
+10.59%
% of All Funds
2.09%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.07%
New
21
Increased
44
Reduced
21
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
UBS Group
UBS Group
Switzerland
+$13.1M
2
Bank of America
Bank of America
North Carolina
+$7.58M
3
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$2.8M
4
RJA
Raymond James & Associates
Florida
+$2.5M
5
RJFSA
Raymond James Financial Services Advisors
Florida
+$2.09M

Top Sellers

1
LPT
Legacy Private Trust
Wisconsin
-$13.7M
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$2.57M
3
Cetera Investment Advisers
Cetera Investment Advisers
Illinois
-$952K
4
Morgan Stanley
Morgan Stanley
New York
-$894K
5
Citadel Advisors
Citadel Advisors
Florida
-$816K
Name Holding Trade Value Shares
Change 		Change in
Stake
Morgan Stanley
1
Morgan Stanley
New York
$54.9M -$894K -17,169 -2%
UBS Group
2
UBS Group
Switzerland
$49.5M +$13.1M +251,447 +36%
Bank of America
3
Bank of America
North Carolina
$37.4M +$7.58M +145,475 +26%
LPL Financial
4
LPL Financial
California
$18.9M -$711K -13,643 -4%
RJA
5
Raymond James & Associates
Florida
$12.1M +$2.5M +48,010 +26%
RJFSA
6
Raymond James Financial Services Advisors
Florida
$11.5M +$2.09M +40,062 +22%
FFG
7
Frisch Financial Group
New York
$10.5M +$10.4M +199,561 New
EIA
8
Eldridge Investment Advisors
New Hampshire
$6.95M +$58.7K +1,128 +0.9%
BCP
9
Blackhawk Capital Partners
Wisconsin
$4.58M -$161K -3,083 -3%
Royal Bank of Canada
10
Royal Bank of Canada
Ontario, Canada
$4.34M +$69.2K +1,328 +2%
Cetera Investment Advisers
11
Cetera Investment Advisers
Illinois
$3.93M -$952K -18,271 -20%
Jane Street
12
Jane Street
New York
$3.93M +$2.02M +38,877 +109%
AG
13
Advisor Group
Arizona
$3.42M +$482K +9,250 +17%
MML Investors Services
14
MML Investors Services
Massachusetts
$3.1M +$1.32M +25,413 +76%
GAG
15
GM Advisory Group
New York
$3.04M -$10.4K -200 -0.3%
Envestnet Asset Management
16
Envestnet Asset Management
Illinois
$2.83M +$2.8M +53,690 New
SCA
17
Snowden Capital Advisors
New York
$2.81M +$1.23M +23,626 +79%
CCG
18
Cypress Capital Group
Florida
$2.4M +$721K +13,850 +44%
MI
19
Moneywise Inc
Virginia
$2.19M -$116K -2,223 -5%
EFL
20
ERn Financial LLC
Wisconsin
$2.05M +$2.03M +38,891 New
Commonwealth Equity Services
21
Commonwealth Equity Services
Massachusetts
$2.04M +$389K +7,472 +24%
CAPTRUST Financial Advisors
22
CAPTRUST Financial Advisors
North Carolina
$2.02M +$4.32K +83 +0.2%
CCA
23
Clearwater Capital Advisors
Illinois
$1.95M +$261K +5,003 +16%
HighTower Advisors
24
HighTower Advisors
Illinois
$1.71M -$190K -3,655 -10%
AC
25
Avestar Capital
New York
$1.71M -$507K -9,732 -23%
1
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FMB Hedge Fund Activity: Q4 2018 in Review

94 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in First Trust Managed Municipal ETF (FMB) for Q4 2018, worth a combined $289M — down 6.9% from $310M a quarter earlier.

Buyers outnumbered sellers: 21 funds opened new FMB positions and 11 closed out — a net gain of 10 holders — while 44 added to existing stakes and 21 trimmed.

The largest buyer was UBS Group, adding an estimated $13.1M. The largest seller was Legacy Private Trust, cutting an estimated $13.7M.

  • 94 institutional investors held First Trust Managed Municipal ETF (FMB) as of Q4 2018, up from 85 in Q3 2018.
  • Funds reported $289M of First Trust Managed Municipal ETF stock for Q4 2018, down 6.9% quarter-over-quarter.
  • 21 funds opened new First Trust Managed Municipal ETF positions in Q4 2018 and 11 closed out, a net change of +10 holders.
  • The largest First Trust Managed Municipal ETF buyer in Q4 2018 was UBS Group, an estimated $13.1M added.
  • The largest First Trust Managed Municipal ETF seller in Q4 2018 was Legacy Private Trust, an estimated $13.7M sold.

Based on aggregated 13F filings for Q4 2018.