First Trust Municipal High Income ETF
FMHI
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.
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: 175 → 166 (-9)
25% less first-time investments, than exits
New positions opened: 12 | Existing positions closed: 16
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wells Fargo
San Francisco,
California
|
+$7.57M |
| 2 |
LPL Financial
San Diego,
California
|
+$5.63M |
| 3 |
GVAG
Great Valley Advisor Group
Wilmington,
Delaware
|
+$4.31M |
| 4 |
ATS
Ashton Thomas Securities
Rochester,
New York
|
+$4.31M |
| 5 |
Wealth Enhancement Advisory Services
Plymouth,
Minnesota
|
+$3.93M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
OPAM
Ocean Park Asset Management
Santa Monica,
California
|
-$4.3M |
| 2 |
Jane Street
New York
|
-$3.98M |
| 3 |
FTUS
Flow Traders U.S.
New York
|
-$3.97M |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$3.72M |
| 5 |
APWA
Atlas Private Wealth Advisors
Matawan,
New Jersey
|
-$3.45M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
AA
176
Armis Advisers
Atlanta,
Georgia
| – | -$331K | -7,093 | Closed |
|
|
IPW
177
Invictus Private Wealth
Denver,
Colorado
| – | -$218K | -4,668 | Closed |
|
|
SWM
178
SeaCrest Wealth Management
Purchase,
New York
| – | -$213K | -4,558 | Closed |
|
|
IWS
179
Insight Wealth Strategies
San Ramon,
California
| – | -$206K | -4,412 | Closed |
|
|
SC
180
Stephens Consulting
Flint,
Michigan
| – | -$85.2K | -1,824 | Closed |
|
|
CFD
181
Creative Financial Designs
Kokomo,
Indiana
| – | -$40.5K | -868 | Closed |
|
182
Jones Financial Companies
Des Peres,
Missouri
| – | -$3.73K | -80 | Closed |
|
|
TAM
183
Tucker Asset Management
Littleton,
Colorado
| – | -$701 | -15 | Closed |
|
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.