RiverNorth Opportunistic Municipal Income Fund
RMI
15 hedge funds and large institutions have $20.5M invested in RiverNorth Opportunistic Municipal Income Fund in 2020 Q3 according to their latest regulatory filings, with 4 funds opening new positions, 3 increasing their positions, 7 reducing their positions, and 3 closing their positions.
33% more first-time investments, than exits
New positions opened: 4 | Existing positions closed: 3
7% more funds holding
Funds holding: 14 → 15 (+1)
0.65% less ownership
Funds ownership: 17.5% → 16.85% (-0.65%)
8% less capital invested
Capital invested by funds: $22.2M → $20.5M (-$1.67M)
57% less repeat investments, than reductions
Existing positions increased: 3 | Existing positions reduced: 7
100% less call options, than puts
Call options by funds: $0 | Put options by funds: $424K
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$1.13M |
| 2 |
Morgan Stanley
New York
|
+$493K |
| 3 |
BRWM
B. Riley Wealth Management
Memphis,
Tennessee
|
+$250K |
| 4 |
Wells Fargo
San Francisco,
California
|
+$119K |
| 5 |
BFEC
Benjamin F. Edwards & Company
St. Louis,
Missouri
|
+$13.4K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
-$1.27M |
| 2 |
CWS
Cypress Wealth Services
Palm Desert,
California
|
-$438K |
| 3 |
GC
Gratus Capital
Atlanta,
Georgia
|
-$265K |
| 4 |
Bank of America
Charlotte,
North Carolina
|
-$229K |
| 5 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$161K |
RMI Hedge Fund Activity: Q3 2020 in Review
15 of the 4,957 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Opportunistic Municipal Income Fund (RMI) for Q3 2020, worth a combined $20.5M — down 7.5% from $22.2M a quarter earlier.
Buyers outnumbered sellers: 4 funds opened new RMI positions and 3 closed out — a net gain of 1 holder — while 3 added to existing stakes and 7 trimmed.
The largest buyer was Karpus Investment Management, opening a new position worth an estimated $1.13M. The largest seller was UBS Group, cutting an estimated $1.27M.
- 15 institutional investors held RiverNorth Opportunistic Municipal Income Fund (RMI) as of Q3 2020, up from 14 in Q2 2020.
- Funds reported $20.5M of RiverNorth Opportunistic Municipal Income Fund stock for Q3 2020, down 7.5% quarter-over-quarter.
- 4 funds opened new RiverNorth Opportunistic Municipal Income Fund positions in Q3 2020 and 3 closed out, a net change of +1 holder.
- The largest RiverNorth Opportunistic Municipal Income Fund buyer in Q3 2020 was Karpus Investment Management, an estimated $1.13M added.
- The largest RiverNorth Opportunistic Municipal Income Fund seller in Q3 2020 was UBS Group, an estimated $1.27M sold.
Based on aggregated 13F filings for Q3 2020.