First Trust Managed Municipal ETF
305 hedge funds and large institutions have $1.55B invested in First Trust Managed Municipal ETF in 2025 Q1 according to their latest regulatory filings, with 25 funds opening new positions, 116 increasing their positions, 130 reducing their positions, and 27 closing their positions.
70% more capital inflows, than outflows
Capital inflows: $132M | Capital outflows: $77.8M
1.69% more ownership
Funds ownership: 76.27% → 77.96% (+1.7%)
7% less first-time investments, than exits
New positions opened: 25 | Existing positions closed: 27
2% less funds holding
Funds holding: 310 → 305 (-5)
11% less repeat investments, than reductions
Existing positions increased: 116 | Existing positions reduced: 130
33% less funds holding in top 10
Funds holding in top 10: 3 → 2 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Creative Planning
Overland Park,
Kansas
|
+$19.5M |
| 2 |
Wells Fargo
San Francisco,
California
|
+$14.3M |
| 3 |
Osaic Holdings
Scottsdale,
Arizona
|
+$10.6M |
| 4 |
Jane Street
New York
|
+$9.32M |
| 5 |
NewEdge Advisors
New Orleans,
Louisiana
|
+$7.28M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Independent Advisor Alliance
Charlotte,
North Carolina
|
-$14.8M |
| 2 |
Morgan Stanley
New York
|
-$8.19M |
| 3 |
RFG Advisory
Birmingham,
Alabama
|
-$7.92M |
| 4 |
Old Mission Capital
Chicago,
Illinois
|
-$3.21M |
| 5 |
Sequoia Financial Advisors
Akron,
Ohio
|
-$3.01M |
FMB Hedge Fund Activity: Q1 2025 in Review
305 of the 7,481 institutional investors tracked by Wall St. Rank reported a position in First Trust Managed Municipal ETF (FMB) for Q1 2025, worth a combined $1.55B — up 2.4% from $1.52B a quarter earlier.
Sellers outnumbered buyers: 27 funds closed out of FMB and 25 opened new positions — a net loss of 2 holders — while 130 trimmed existing stakes and 116 added.
The largest buyer was Creative Planning, adding an estimated $19.5M. The largest seller was Independent Advisor Alliance, exiting entirely with an estimated $14.8M sold.
- 305 institutional investors held First Trust Managed Municipal ETF (FMB) as of Q1 2025, down from 310 in Q4 2024.
- Funds reported $1.55B of First Trust Managed Municipal ETF stock for Q1 2025, up 2.4% quarter-over-quarter.
- 25 funds opened new First Trust Managed Municipal ETF positions in Q1 2025 and 27 closed out, a net change of -2 holders.
- The largest First Trust Managed Municipal ETF buyer in Q1 2025 was Creative Planning, an estimated $19.5M added.
- The largest First Trust Managed Municipal ETF seller in Q1 2025 was Independent Advisor Alliance, an estimated $14.8M sold.
Based on aggregated 13F filings for Q1 2025.