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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
Wealth Enhancement Advisory Services
1
Wealth Enhancement Advisory Services
Minnesota
$73.8M +$3.93M +84,303 +6%
Morgan Stanley
2
Morgan Stanley
New York
$57.2M +$2.91M +62,426 +5%
LPL Financial
3
LPL Financial
California
$49.3M +$5.63M +120,734 +13%
Wells Fargo
4
Wells Fargo
California
$47.1M +$7.57M +162,318 +20%
MAS
5
Meeder Advisory Services
Ohio
$21.4M +$2.5M +53,675 +14%
Citigroup
6
Citigroup
New York
$20.2M +$1.23M +26,438 +7%
Bank of America
7
Bank of America
North Carolina
$17.3M -$1.34M -28,820 -7%
UBS Group
8
UBS Group
Switzerland
$14M -$3.72M -79,747 -21%
PWP
9
Principle Wealth Partners
Connecticut
$13.7M -$390K -8,363 -3%
Cetera Investment Advisers
10
Cetera Investment Advisers
Illinois
$11.6M +$1.96M +42,111 +21%
SW
11
SlateStone Wealth
Florida
$11.6M -$632K -13,554 -5%
NA
12
NewEdge Advisors
Louisiana
$10.4M -$2.48M -53,069 -20%
Raymond James Financial
13
Raymond James Financial
Florida
$10.2M -$653K -14,008 -6%
MWAM
14
Manhattan West Asset Management
California
$10.2M +$397K +8,512 +4%
FPGK
15
Financial Partners Group (Kansas)
Kansas
$9.42M +$757K +16,228 +9%
EFP
16
EnRich Financial Partners
Wisconsin
$8.31M +$316K +6,777 +4%
Royal Bank of Canada
17
Royal Bank of Canada
Ontario, Canada
$7.58M -$322K -6,903 -4%
Osaic Holdings
18
Osaic Holdings
Arizona
$7.22M +$1.35M +28,896 +23%
ATS
19
Ashton Thomas Securities
New York
$6.69M +$4.31M +92,429 +191%
Rockefeller Capital Management
20
Rockefeller Capital Management
New York
$5.95M +$25.5K +546 +0.4%
HighTower Advisors
21
HighTower Advisors
Illinois
$5.75M +$1.24M +26,536 +28%
JP Morgan Chase
22
JP Morgan Chase
New York
$5.74M +$1.3M +27,945 +30%
OPAM
23
Ocean Park Asset Management
California
$5.53M -$4.3M -92,200 -44%
GVAG
24
Great Valley Advisor Group
Delaware
$5.45M +$4.31M +92,432 +415%
Carson Wealth (CWM LLC)
25
Carson Wealth (CWM LLC)
Nebraska
$5.34M +$796K +17,062 +18%

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.