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First Trust Managed Municipal ETF

298 hedge funds and large institutions have $1.6B invested in First Trust Managed Municipal ETF in 2023 Q4 according to their latest regulatory filings, with 47 funds opening new positions, 90 increasing their positions, 135 reducing their positions, and 20 closing their positions.

New
Increased
Maintained
Reduced
Closed

135% more first-time investments, than exits

New positions opened: 47 | Existing positions closed: 20

18% more capital invested

Capital invested by funds: $1.36B → $1.6B (+$243M)

9% more funds holding

Funds holding: 273298 (+25)

8.61% more ownership

Funds ownership: 73.66%82.27% (+8.6%)

11% less funds holding in top 10

Funds holding in top 10: 98 (-1)

33% less repeat investments, than reductions

Existing positions increased: 90 | Existing positions reduced: 135

Holders
298
Holders Change
+25
Holders Change %
+9.16%
% of All Funds
4.34%
Holding in Top 10
8
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-11.11%
% of All Funds
0.12%
New
47
Increased
90
Reduced
135
Closed
20
Calls
Puts
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
Morgan Stanley
1
Morgan Stanley
New York
$261M +$146M +2,943,978 +139%
LPL Financial
2
LPL Financial
California
$113M -$6.21M -124,881 -5%
Wells Fargo
3
Wells Fargo
California
$106M +$12.5M +251,160 +14%
UBS Group
4
UBS Group
Switzerland
$91.2M -$24M -483,347 -21%
Bank of America
5
Bank of America
North Carolina
$83.5M -$7.85M -157,865 -9%
APP
6
Avantax Planning Partners
Iowa
$53.2M +$6.04M +121,339 +13%
SFA
7
Sequoia Financial Advisors
Ohio
$46.7M +$7.78M +156,465 +21%
CWM
8
Congress Wealth Management
Massachusetts
$34.9M -$418K -8,394 -1%
RJFSA
9
Raymond James Financial Services Advisors
Florida
$33.3M -$2.39M -48,055 -7%
Royal Bank of Canada
10
Royal Bank of Canada
Ontario, Canada
$30.2M +$1.11M +22,265 +4%
Osaic Holdings
11
Osaic Holdings
Arizona
$27.6M -$8.26M -166,058 -24%
MMA
12
Miracle Mile Advisors
California
$23M +$8.55M +171,963 +63%
RJA
13
Raymond James & Associates
Florida
$19.6M -$1.95M -39,117 -9%
JP Morgan Chase
14
JP Morgan Chase
New York
$19.5M +$5.25M +105,503 +39%
AAS
15
Avantax Advisory Services
Texas
$18.8M -$1.27M -25,493 -7%
OIA
16
OneDigital Investment Advisors
Kansas
$17.9M +$4.3M +86,441 +33%
CAMG
17
CWA Asset Management Group
Florida
$17.4M +$3.22M +64,718 +24%
Envestnet Asset Management
18
Envestnet Asset Management
Illinois
$16.4M +$527K +10,589 +3%
Commonwealth Equity Services
19
Commonwealth Equity Services
Massachusetts
$15M +$637K +12,815 +5%
Truist Financial
20
Truist Financial
North Carolina
$14.3M +$619K +12,445 +5%
FPIS
21
Financial Planning & Information Services
Wisconsin
$13.3M -$1.32M -26,597 -9%
KAS
22
Kestra Advisory Services
Texas
$13.2M -$576K -11,575 -4%
Stifel Financial
23
Stifel Financial
Missouri
$12.9M +$1.58M +31,722 +15%
EFL
24
ERn Financial LLC
Wisconsin
$12.8M -$51.2K -1,030 -0.4%
Janney Montgomery Scott
25
Janney Montgomery Scott
Pennsylvania
$11.7M +$2.31M +46,388 +26%

FMB Hedge Fund Activity: Q4 2023 in Review

298 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in First Trust Managed Municipal ETF (FMB) for Q4 2023, worth a combined $1.6B — up 18% from $1.36B a quarter earlier.

Buyers outnumbered sellers: 47 funds opened new FMB positions and 20 closed out — a net gain of 27 holders — while 90 added to existing stakes and 135 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $146M. The largest seller was UBS Group, cutting an estimated $24M.

  • 298 institutional investors held First Trust Managed Municipal ETF (FMB) as of Q4 2023, up from 273 in Q3 2023.
  • Funds reported $1.6B of First Trust Managed Municipal ETF stock for Q4 2023, up 18% quarter-over-quarter.
  • 47 funds opened new First Trust Managed Municipal ETF positions in Q4 2023 and 20 closed out, a net change of +27 holders.
  • The largest First Trust Managed Municipal ETF buyer in Q4 2023 was Morgan Stanley, an estimated $146M added.
  • The largest First Trust Managed Municipal ETF seller in Q4 2023 was UBS Group, an estimated $24M sold.

Based on aggregated 13F filings for Q4 2023.