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First Trust Municipal High Income ETF
FMHI

121 hedge funds and large institutions have $264M invested in First Trust Municipal High Income ETF in 2023 Q3 according to their latest regulatory filings, with 15 funds opening new positions, 47 increasing their positions, 42 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

36% more first-time investments, than exits

New positions opened: 15 | Existing positions closed: 11

12% more repeat investments, than reductions

Existing positions increased: 47 | Existing positions reduced: 42

9% more capital invested

Capital invested by funds: $241M → $264M (+$22.3M)

3% more funds holding

Funds holding: 118 → 121 (+3)

1.34% more ownership

Funds ownership: 64.09% → 65.43% (+1.3%)

100% less funds holding in top 10

Funds holding in top 10: 2 → 0 (-2)

Holders
121
Holders Change
+3
Holders Change %
+2.54%
% of All Funds
1.92%
Holding in Top 10
–
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-100%
% of All Funds
–
New
15
Increased
47
Reduced
42
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Wealth Enhancement Advisory Services
Wealth Enhancement Advisory Services
Minnesota
+$17M
2
UBS Group
UBS Group
Switzerland
+$5.63M
3
FPGK
Financial Partners Group (Kansas)
Kansas
+$4.38M
4
CWM
Cornerstone Wealth Management
Missouri
+$2.9M
5
Wells Fargo
Wells Fargo
California
+$2.39M

Top Sellers

Rank Fund Capital Flow
1
AA
AJ Advisors
Tennessee
-$3.35M
2
RA
RFG Advisory
Alabama
-$2.84M
3
HighTower Advisors
HighTower Advisors
Illinois
-$2.63M
4
RT
Rockland Trust
Massachusetts
-$1.46M
5
Morgan Stanley
Morgan Stanley
New York
-$1.16M
Name Holding Trade Value Shares
Change 		Change in
Stake
MW
26
MBL Wealth
North Carolina
$2.27M +$2.02M +43,345 +610%
VWA
27
Visionary Wealth Advisors
Illinois
$2.07M -$244K -5,229 -10%
SPIA
28
Steward Partners Investment Advisory
New York
$2.07M +$50.5K +1,085 +2%
Royal Bank of Canada
29
Royal Bank of Canada
Ontario, Canada
$1.97M +$805K +17,290 +65%
ARG
30
Advisory Resource Group
Oklahoma
$1.86M -$133K -2,858 -6%
MA
31
Mutual Advisors
Nebraska
$1.81M +$127K +2,719 +7%
JP Morgan Chase
32
JP Morgan Chase
New York
$1.64M +$1.7M +36,425 New
Commonwealth Equity Services
33
Commonwealth Equity Services
Massachusetts
$1.6M +$198K +4,248 +14%
Jane Street
34
Jane Street
New York
$1.5M -$95.1K -2,042 -6%
Cambridge Investment Research Advisors
35
Cambridge Investment Research Advisors
Iowa
$1.48M +$317K +6,799 +26%
Citadel Advisors
36
Citadel Advisors
Florida
$1.36M +$1.4M +30,157 New
SI
37
Stephens Inc
Arkansas
$1.36M -$23.3K -500 -2%
Janney Montgomery Scott
38
Janney Montgomery Scott
Pennsylvania
$1.29M +$4.66K +100 +0.4%
FA
39
Flagstar Advisors
New York
$1.2M +$16.9K +362 +1%
CAPTRUST Financial Advisors
40
CAPTRUST Financial Advisors
North Carolina
$1.2M +$8.11K +174 +0.7%
IA
41
IFP Advisors
Florida
$1.15M -$247K -5,296 -17%
KAS
42
Kestra Advisory Services
Texas
$1.1M -$6.15K -132 -0.5%
APWM
43
Atlas Private Wealth Management
New York
$1.08M -$66.7K -1,432 -6%
EH
44
Equitable Holdings
New York
$1.01M +$8.15K +175 +0.8%
SWP
45
ShoreHaven Wealth Partners
New Jersey
$1.01M +$1.04M +22,383 New
NA
46
NewEdge Advisors
Louisiana
$1M +$261K +5,594 +34%
CIAS
47
Capital Investment Advisory Services
North Carolina
$966K +$3.49K +75 +0.4%
GIA
48
Gladstone Institutional Advisory
Florida
$934K +$9.6K +206 +1%
GVAG
49
Great Valley Advisor Group
Delaware
$903K -$83.7K -1,797 -8%
Cetera Investment Advisers
50
Cetera Investment Advisers
Illinois
$901K +$29.4K +632 +3%
1
2
3 4 5

FMHI Hedge Fund Activity: Q3 2023 in Review

121 of the 6,301 institutional investors tracked by Wall St. Rank reported a position in First Trust Municipal High Income ETF (FMHI) for Q3 2023, worth a combined $264M — up 9.2% from $241M a quarter earlier.

Buyers outnumbered sellers: 15 funds opened new FMHI positions and 11 closed out — a net gain of 4 holders — while 47 added to existing stakes and 42 trimmed.

The largest buyer was Wealth Enhancement Advisory Services, adding an estimated $17M. The largest seller was AJ Advisors, exiting entirely with an estimated $3.35M sold.

  • 121 institutional investors held First Trust Municipal High Income ETF (FMHI) as of Q3 2023, up from 118 in Q2 2023.
  • Funds reported $264M of First Trust Municipal High Income ETF stock for Q3 2023, up 9.2% quarter-over-quarter.
  • 15 funds opened new First Trust Municipal High Income ETF positions in Q3 2023 and 11 closed out, a net change of +4 holders.
  • The largest First Trust Municipal High Income ETF buyer in Q3 2023 was Wealth Enhancement Advisory Services, an estimated $17M added.
  • The largest First Trust Municipal High Income ETF seller in Q3 2023 was AJ Advisors, an estimated $3.35M sold.

Based on aggregated 13F filings for Q3 2023.