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First Trust Municipal High Income ETF
FMHI

170 hedge funds and large institutions have $577M invested in First Trust Municipal High Income ETF in 2025 Q1 according to their latest regulatory filings, with 10 funds opening new positions, 71 increasing their positions, 61 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

16% more repeat investments, than reductions

Existing positions increased: 71 | Existing positions reduced: 61

6% more capital invested

Capital invested by funds: $545M → $577M (+$31.3M)

1.62% more ownership

Funds ownership: 72.86% → 74.48% (+1.6%)

3% less funds holding

Funds holding: 176 → 170 (-6)

23% less first-time investments, than exits

New positions opened: 10 | Existing positions closed: 13

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
170
Holders Change
-6
Holders Change %
-3.41%
% of All Funds
2.28%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
10
Increased
71
Reduced
61
Closed
13
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
OPAM
Ocean Park Asset Management
California
+$10.1M
2
Morgan Stanley
Morgan Stanley
New York
+$9.94M
3
Wealth Enhancement Advisory Services
Wealth Enhancement Advisory Services
Minnesota
+$7.35M
4
Rockefeller Capital Management
Rockefeller Capital Management
New York
+$5.35M
5
Wells Fargo
Wells Fargo
California
+$3.5M

Top Sellers

Rank Fund Capital Flow
1
Raymond James Financial
Raymond James Financial
Florida
-$5.97M
2
RA
RFG Advisory
Alabama
-$2.64M
3
Jane Street
Jane Street
New York
-$1.5M
4
PWP
Principle Wealth Partners
Connecticut
-$1.18M
5
PSCM
Per Stirling Capital Management
Texas
-$1.17M
Name Holding Trade Value Shares
Change 		Change in
Stake
JWCA
176
J.W. Cole Advisors
Florida
– -$398K -8,236 Closed
SFG
177
Socha Financial Group
New York
– -$308K -6,386 Closed
TSS
178
Two Sigma Securities
New York
– -$288K -5,961 Closed
SOS
179
Silver Oak Securities
Tennessee
– -$224K -4,641 Closed
CWP
180
Core Wealth Partners
California
– -$207K -4,280 Closed
CAS
181
Coppell Advisory Solutions
Texas
– -$62.4K -1,293 Closed
TAM
182
Tucker Asset Management
Colorado
– -$22.5K -465 Closed
PFA
183
Pathway Financial Advisers
Indiana
– -$9.06K -188 Closed
4 5 6 7
8

FMHI Hedge Fund Activity: Q1 2025 in Review

170 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in First Trust Municipal High Income ETF (FMHI) for Q1 2025, worth a combined $577M — up 5.7% from $545M a quarter earlier.

Sellers outnumbered buyers: 13 funds closed out of FMHI and 10 opened new positions — a net loss of 3 holders — while 61 trimmed existing stakes and 71 added.

The largest buyer was Ocean Park Asset Management, opening a new position worth an estimated $10.1M. The largest seller was Raymond James Financial, cutting an estimated $5.97M.

  • 170 institutional investors held First Trust Municipal High Income ETF (FMHI) as of Q1 2025, down from 176 in Q4 2024.
  • Funds reported $577M of First Trust Municipal High Income ETF stock for Q1 2025, up 5.7% quarter-over-quarter.
  • 10 funds opened new First Trust Municipal High Income ETF positions in Q1 2025 and 13 closed out, a net change of -3 holders.
  • The largest First Trust Municipal High Income ETF buyer in Q1 2025 was Ocean Park Asset Management, an estimated $10.1M added.
  • The largest First Trust Municipal High Income ETF seller in Q1 2025 was Raymond James Financial, an estimated $5.97M sold.

Based on aggregated 13F filings for Q1 2025.