RiverNorth Opportunistic Municipal Income Fund
RMI
13 hedge funds and large institutions have $10.4M invested in RiverNorth Opportunistic Municipal Income Fund in 2019 Q2 according to their latest regulatory filings, with 3 funds opening new positions, 6 increasing their positions, 2 reducing their positions, and 1 closing their positions.
200% more first-time investments, than exits
New positions opened: 3 | Existing positions closed: 1
200% more repeat investments, than reductions
Existing positions increased: 6 | Existing positions reduced: 2
55% more capital invested
Capital invested by funds: $6.71M → $10.4M (+$3.72M)
18% more funds holding
Funds holding: 11 → 13 (+2)
2.79% more ownership
Funds ownership: 5.41% → 8.2% (+2.8%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$1.46M |
| 2 |
FM
Family Management
New York
|
+$1.01M |
| 3 |
UBS Group
Zurich,
Switzerland
|
+$737K |
| 4 |
Morgan Stanley
New York
|
+$514K |
| 5 |
Bank of America
Charlotte,
North Carolina
|
+$499K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$590K |
| 2 |
Wells Fargo
San Francisco,
California
|
-$313K |
| 3 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$161K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
1
Royal Bank of Canada
Toronto,
Ontario, Canada
| $3.21M | +$1.46M | +68,621 | +84% |
|
|
2
UBS Group
Zurich,
Switzerland
| $2.22M | +$737K | +34,651 | +50% |
|
|
FM
3
Family Management
New York
| $1.79M | +$1.01M | +47,536 | +130% |
|
|
4
Morgan Stanley
New York
| $1.41M | +$514K | +24,183 | +58% |
|
|
5
Bank of America
Charlotte,
North Carolina
| $501K | +$499K | +23,485 | New |
|
|
CWS
6
Cypress Wealth Services
Palm Desert,
California
| $437K | – | – | – |
|
|
FIA
7
FNY Investment Advisers
New York
| $214K | +$111K | +5,238 | +109% |
|
|
WAM
8
Wolverine Asset Management
Chicago,
Illinois
| $184K | -$161K | -7,596 | -47% |
|
|
CL
9
CSS LLC
Chicago,
Illinois
| $130K | +$130K | +6,100 | New |
|
|
TJHA
10
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
| $124K | – | – | – |
|
|
AG
11
Advisor Group
Phoenix,
Arizona
| $96K | +$95.7K | +4,500 | New |
|
12
Citigroup
New York
| $60K | +$56.2K | +2,643 | +1,810% |
|
|
13
Wells Fargo
San Francisco,
California
| $49K | -$313K | -14,700 | -86% |
|
|
14
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| – | -$590K | -28,321 | Closed |
|
RMI Hedge Fund Activity: Q2 2019 in Review
13 of the 4,605 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Opportunistic Municipal Income Fund (RMI) for Q2 2019, worth a combined $10.4M — up 55% from $6.71M a quarter earlier.
Buyers outnumbered sellers: 3 funds opened new RMI positions and 1 closed out — a net gain of 2 holders — while 6 added to existing stakes and 2 trimmed.
The largest buyer was Royal Bank of Canada, adding an estimated $1.46M. The largest seller was Susquehanna International Group, exiting entirely with an estimated $590K sold.
- 13 institutional investors held RiverNorth Opportunistic Municipal Income Fund (RMI) as of Q2 2019, up from 11 in Q1 2019.
- Funds reported $10.4M of RiverNorth Opportunistic Municipal Income Fund stock for Q2 2019, up 55% quarter-over-quarter.
- 3 funds opened new RiverNorth Opportunistic Municipal Income Fund positions in Q2 2019 and 1 closed out, a net change of +2 holders.
- The largest RiverNorth Opportunistic Municipal Income Fund buyer in Q2 2019 was Royal Bank of Canada, an estimated $1.46M added.
- The largest RiverNorth Opportunistic Municipal Income Fund seller in Q2 2019 was Susquehanna International Group, an estimated $590K sold.
Based on aggregated 13F filings for Q2 2019.