First Trust Managed Municipal ETF
298 hedge funds and large institutions have $1.44B invested in First Trust Managed Municipal ETF in 2025 Q2 according to their latest regulatory filings, with 26 funds opening new positions, 105 increasing their positions, 131 reducing their positions, and 30 closing their positions.
2% less funds holding
Funds holding: 304 → 298 (-6)
2.04% less ownership
Funds ownership: 77.85% → 75.81% (-2%)
7% less capital invested
Capital invested by funds: $1.55B → $1.44B (-$110M)
13% less first-time investments, than exits
New positions opened: 26 | Existing positions closed: 30
20% less repeat investments, than reductions
Existing positions increased: 105 | Existing positions reduced: 131
100% less funds holding in top 10
Funds holding in top 10: 2 → 0 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
APP
Avantax Planning Partners
Dubuque,
Iowa
|
+$9.81M |
| 2 |
Jane Street
New York
|
+$7.85M |
| 3 |
OIA
OneDigital Investment Advisors
Overland Park,
Kansas
|
+$6.36M |
| 4 |
Morgan Stanley
New York
|
+$3.98M |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$3.91M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AAS
Avantax Advisory Services
Dallas,
Texas
|
-$24.5M |
| 2 |
Creative Planning
Overland Park,
Kansas
|
-$15.1M |
| 3 |
LFG
Larson Financial Group
St Louis,
Missouri
|
-$14.8M |
| 4 |
JP Morgan Chase
New York
|
-$12.7M |
| 5 |
LPL Financial
San Diego,
California
|
-$6.64M |
FMB Hedge Fund Activity: Q2 2025 in Review
298 of the 7,613 institutional investors tracked by Wall St. Rank reported a position in First Trust Managed Municipal ETF (FMB) for Q2 2025, worth a combined $1.44B — down 7.1% from $1.55B a quarter earlier.
Sellers outnumbered buyers: 30 funds closed out of FMB and 26 opened new positions — a net loss of 4 holders — while 131 trimmed existing stakes and 105 added.
The largest buyer was Avantax Planning Partners, adding an estimated $9.81M. The largest seller was Avantax Advisory Services, cutting an estimated $24.5M.
- 298 institutional investors held First Trust Managed Municipal ETF (FMB) as of Q2 2025, down from 304 in Q1 2025.
- Funds reported $1.44B of First Trust Managed Municipal ETF stock for Q2 2025, down 7.1% quarter-over-quarter.
- 26 funds opened new First Trust Managed Municipal ETF positions in Q2 2025 and 30 closed out, a net change of -4 holders.
- The largest First Trust Managed Municipal ETF buyer in Q2 2025 was Avantax Planning Partners, an estimated $9.81M added.
- The largest First Trust Managed Municipal ETF seller in Q2 2025 was Avantax Advisory Services, an estimated $24.5M sold.
Based on aggregated 13F filings for Q2 2025.