RiverNorth Managed Duration Municipal Income Fund
RMM
23 hedge funds and large institutions have $31M invested in RiverNorth Managed Duration Municipal Income Fund in 2020 Q3 according to their latest regulatory filings, with 10 funds opening new positions, 9 increasing their positions, 2 reducing their positions, and 3 closing their positions.
350% more repeat investments, than reductions
Existing positions increased: 9 | Existing positions reduced: 2
233% more first-time investments, than exits
New positions opened: 10 | Existing positions closed: 3
44% more funds holding
Funds holding: 16 → 23 (+7)
24% more capital invested
Capital invested by funds: $25M → $31M (+$5.96M)
1.4% more ownership
Funds ownership: 8% → 9.4% (+1.4%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
+$1.82M |
| 2 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$1.03M |
| 3 |
UBS Group
Zurich,
Switzerland
|
+$877K |
| 4 |
Morgan Stanley
New York
|
+$791K |
| 5 |
SIC
Samalin Investment Counsel
Chappaqua,
New York
|
+$523K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
NL
NWAM LLC
Mercer Island,
Washington
|
-$545K |
| 2 |
WS
Wedbush Securities
Los Angeles,
California
|
-$280K |
| 3 |
MA
Mutual Advisors
Omaha,
Nebraska
|
-$205K |
| 4 |
PAG
Private Advisor Group
Morristown,
New Jersey
|
-$129K |
| 5 |
Wells Fargo
San Francisco,
California
|
-$86.7K |
RMM Hedge Fund Activity: Q3 2020 in Review
23 of the 4,957 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q3 2020, worth a combined $31M — up 24% from $25M a quarter earlier.
Buyers outnumbered sellers: 10 funds opened new RMM positions and 3 closed out — a net gain of 7 holders — while 9 added to existing stakes and 2 trimmed.
The largest buyer was Robinson Capital Management, opening a new position worth an estimated $1.82M. The largest seller was NWAM LLC, exiting entirely with an estimated $545K sold.
- 23 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q3 2020, up from 16 in Q2 2020.
- Funds reported $31M of RiverNorth Managed Duration Municipal Income Fund stock for Q3 2020, up 24% quarter-over-quarter.
- 10 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q3 2020 and 3 closed out, a net change of +7 holders.
- The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q3 2020 was Robinson Capital Management, an estimated $1.82M added.
- The largest RiverNorth Managed Duration Municipal Income Fund seller in Q3 2020 was NWAM LLC, an estimated $545K sold.
Based on aggregated 13F filings for Q3 2020.