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First Trust Municipal High Income ETF

166 hedge funds and large institutions have $589M invested in First Trust Municipal High Income ETF in 2025 Q3 according to their latest regulatory filings, with 12 funds opening new positions, 77 increasing their positions, 56 reducing their positions, and 16 closing their positions.

New
Increased
Maintained
Reduced
Closed

38% more repeat investments, than reductions

Existing positions increased: 77 | Existing positions reduced: 56

5% more capital invested

Capital invested by funds: $561M → $589M (+$28.2M)

1.51% more ownership

Funds ownership: 74.3%75.81% (+1.5%)

5% less funds holding

Funds holding: 175166 (-9)

25% less first-time investments, than exits

New positions opened: 12 | Existing positions closed: 16

Holders
166
Holders Change
-9
Holders Change %
-5.14%
% of All Funds
2.18%
Holding in Top 10
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
New
12
Increased
77
Reduced
56
Closed
16
Calls
Puts
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
Northwestern Mutual Wealth Management
126
Northwestern Mutual Wealth Management
Wisconsin
$315K +$304K +6,524 +5,825%
Baird Financial Group
127
Baird Financial Group
Wisconsin
$309K +$4.67K +100 +2%
TCWM
128
Total Clarity Wealth Management
Illinois
$302K +$63K +1,351 +27%
BRWA
129
B. Riley Wealth Advisors
Florida
$300K
Citadel Advisors
130
Citadel Advisors
Florida
$295K -$562K -12,050 -66%
XWM
131
Xcel Wealth Management
Florida
$285K
AWM
132
AE Wealth Management
Kansas
$283K -$82.8K -1,774 -23%
SWP
133
Stratos Wealth Partners
Ohio
$268K +$20.9K +447 +9%
WA
134
Waddell & Associates
Tennessee
$265K
JCM
135
Jacobi Capital Management
Pennsylvania
$256K +$251K +5,382 New
CG
136
CFO4Life Group
Texas
$255K
LWMNY
137
Landmark Wealth Management (New York)
New York
$245K -$20K -429 -8%
AQR Capital Management
138
AQR Capital Management
Connecticut
$241K -$93.9K -2,012 -28%
WIM
139
Westside Investment Management
California
$238K
GWM
140
Geneos Wealth Management
Colorado
$234K -$6.02K -129 -3%
SCA
141
Snowden Capital Advisors
New York
$228K -$73K -1,564 -25%
KFI
142
Key Financial Inc
Pennsylvania
$208K
FPWM
143
FSB Premier Wealth Management
Iowa
$203K -$4.01K -86 -2%
CCFM
144
Clear Creek Financial Management
Washington
$200K +$196K +4,210 New
PTC
145
Private Trust Company
Ohio
$158K
HFS
146
Hughes Financial Services
Virginia
$148K +$29.3K +629 +26%
FMII
147
Farmers & Merchants Investments Inc
Nebraska
$105K
PA
148
Pineridge Advisors
Missouri
$96.8K -$74.5K -1,598 -44%
CAL
149
Capital Analysts LLC
Pennsylvania
$69K -$560 -12 -0.8%
DSC
150
Duncker Streett & Co
Missouri
$66.1K

FMHI Hedge Fund Activity: Q3 2025 in Review

166 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in First Trust Municipal High Income ETF (FMHI) for Q3 2025, worth a combined $589M — up 5% from $561M a quarter earlier.

Sellers outnumbered buyers: 16 funds closed out of FMHI and 12 opened new positions — a net loss of 4 holders — while 56 trimmed existing stakes and 77 added.

The largest buyer was Wells Fargo, adding an estimated $7.57M. The largest seller was Ocean Park Asset Management, cutting an estimated $4.3M.

  • 166 institutional investors held First Trust Municipal High Income ETF (FMHI) as of Q3 2025, down from 175 in Q2 2025.
  • Funds reported $589M of First Trust Municipal High Income ETF stock for Q3 2025, up 5% quarter-over-quarter.
  • 12 funds opened new First Trust Municipal High Income ETF positions in Q3 2025 and 16 closed out, a net change of -4 holders.
  • The largest First Trust Municipal High Income ETF buyer in Q3 2025 was Wells Fargo, an estimated $7.57M added.
  • The largest First Trust Municipal High Income ETF seller in Q3 2025 was Ocean Park Asset Management, an estimated $4.3M sold.

Based on aggregated 13F filings for Q3 2025.