RiverNorth Managed Duration Municipal Income Fund
RMM
33 hedge funds and large institutions have $53.5M invested in RiverNorth Managed Duration Municipal Income Fund in 2020 Q4 according to their latest regulatory filings, with 11 funds opening new positions, 13 increasing their positions, 5 reducing their positions, and 1 closing their positions.
1,000% more first-time investments, than exits
New positions opened: 11 | Existing positions closed: 1
160% more repeat investments, than reductions
Existing positions increased: 13 | Existing positions reduced: 5
73% more capital invested
Capital invested by funds: $31M → $53.5M (+$22.5M)
43% more funds holding
Funds holding: 23 → 33 (+10)
5.81% more ownership
Funds ownership: 9.4% → 15.21% (+5.8%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$12.5M |
| 2 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
+$3.23M |
| 3 |
Morgan Stanley
New York
|
+$1.38M |
| 4 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
+$663K |
| 5 |
LCM
Landscape Capital Management
Englewood,
New Jersey
|
+$611K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
-$2.39M |
| 2 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$284K |
| 3 |
DIM
Delta Investment Management
San Francisco,
California
|
-$175K |
| 4 |
RJFSA
Raymond James Financial Services Advisors
St. Petersburg,
Florida
|
-$86.3K |
| 5 |
Truist Financial
Charlotte,
North Carolina
|
-$84.1K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
RJFSA
26
Raymond James Financial Services Advisors
St. Petersburg,
Florida
| $183K | -$86.3K | -5,000 | -33% |
|
|
FIA
27
FNY Investment Advisers
New York
| $175K | +$170K | +9,845 | New |
|
|
WAM
28
Wolverine Asset Management
Chicago,
Illinois
| $101K | -$284K | -16,488 | -74% |
|
|
TWP
29
TFO Wealth Partners
Maumee,
Ohio
| $45K | +$43.1K | +2,500 | New |
|
30
Bank of America
Charlotte,
North Carolina
| $39K | – | – | – |
|
31
Citigroup
New York
| $29K | +$28K | +1,622 | New |
|
|
PWPS
32
Pinnacle Wealth Planning Services
Mansfield,
Ohio
| $7K | +$6.97K | +404 | New |
|
|
DIM
33
Delta Investment Management
San Francisco,
California
| – | -$175K | -10,500 | Closed |
|
34
Fidelity Investments
Boston,
Massachusetts
| – | +$35 | +2 | New |
|
RMM Hedge Fund Activity: Q4 2020 in Review
33 of the 5,652 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q4 2020, worth a combined $53.5M — up 73% from $31M a quarter earlier.
Buyers outnumbered sellers: 11 funds opened new RMM positions and 1 closed out — a net gain of 10 holders — while 13 added to existing stakes and 5 trimmed.
The largest buyer was Karpus Investment Management, adding an estimated $12.5M. The largest seller was UBS Group, cutting an estimated $2.39M.
- 33 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q4 2020, up from 23 in Q3 2020.
- Funds reported $53.5M of RiverNorth Managed Duration Municipal Income Fund stock for Q4 2020, up 73% quarter-over-quarter.
- 11 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q4 2020 and 1 closed out, a net change of +10 holders.
- The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q4 2020 was Karpus Investment Management, an estimated $12.5M added.
- The largest RiverNorth Managed Duration Municipal Income Fund seller in Q4 2020 was UBS Group, an estimated $2.39M sold.
Based on aggregated 13F filings for Q4 2020.