RiverNorth Managed Duration Municipal Income Fund
RMM
29 hedge funds and large institutions have $58.7M invested in RiverNorth Managed Duration Municipal Income Fund in 2021 Q1 according to their latest regulatory filings, with 3 funds opening new positions, 13 increasing their positions, 11 reducing their positions, and 7 closing their positions.
18% more repeat investments, than reductions
Existing positions increased: 13 | Existing positions reduced: 11
10% more capital invested
Capital invested by funds: $53.5M → $58.7M (+$5.24M)
0.76% more ownership
Funds ownership: 15.21% → 15.97% (+0.76%)
12% less funds holding
Funds holding: 33 → 29 (-4)
57% less first-time investments, than exits
New positions opened: 3 | Existing positions closed: 7
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
+$1.62M |
| 2 |
Morgan Stanley
New York
|
+$1.07M |
| 3 |
AWM
AE Wealth Management
Topeka,
Kansas
|
+$586K |
| 4 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
+$535K |
| 5 |
ACA
Ackerman Capital Advisors
Dallas,
Texas
|
+$531K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CRC
Curi RMB Capital
Chicago,
Illinois
|
-$709K |
| 2 |
LCM
Landscape Capital Management
Englewood,
New Jersey
|
-$630K |
| 3 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$537K |
| 4 |
KCPG
Kavar Capital Partners Group
Leawood,
Kansas
|
-$427K |
| 5 |
MIG
Mariner Investment Group
Harrison,
New York
|
-$268K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
26
Osaic Holdings
Scottsdale,
Arizona
| $100K | -$143K | -7,740 | -59% |
|
|
WAM
27
Wolverine Asset Management
Chicago,
Illinois
| $68K | -$37.3K | -2,019 | -35% |
|
28
Citigroup
New York
| $35K | +$4.86K | +263 | +16% |
|
29
Bank of America
Charlotte,
North Carolina
| $26K | -$14.8K | -800 | -36% |
|
|
CRC
30
Curi RMB Capital
Chicago,
Illinois
| – | -$709K | -39,859 | Closed |
|
|
LCM
31
Landscape Capital Management
Englewood,
New Jersey
| – | -$630K | -35,400 | Closed |
|
|
KCPG
32
Kavar Capital Partners Group
Leawood,
Kansas
| – | -$427K | -24,000 | Closed |
|
|
KAS
33
Kestra Advisory Services
Austin,
Texas
| – | -$207K | -11,654 | Closed |
|
|
TWP
34
TFO Wealth Partners
Maumee,
Ohio
| – | -$45K | -2,500 | Closed |
|
|
PWPS
35
Pinnacle Wealth Planning Services
Mansfield,
Ohio
| – | -$7K | -404 | Closed |
|
RMM Hedge Fund Activity: Q1 2021 in Review
29 of the 5,696 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q1 2021, worth a combined $58.7M — up 9.8% from $53.5M a quarter earlier.
Sellers outnumbered buyers: 7 funds closed out of RMM and 3 opened new positions — a net loss of 4 holders — while 11 trimmed existing stakes and 13 added.
The largest buyer was Parametric Portfolio Associates, adding an estimated $1.62M. The largest seller was Curi RMB Capital, exiting entirely with an estimated $709K sold.
- 29 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q1 2021, down from 33 in Q4 2020.
- Funds reported $58.7M of RiverNorth Managed Duration Municipal Income Fund stock for Q1 2021, up 9.8% quarter-over-quarter.
- 3 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q1 2021 and 7 closed out, a net change of -4 holders.
- The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q1 2021 was Parametric Portfolio Associates, an estimated $1.62M added.
- The largest RiverNorth Managed Duration Municipal Income Fund seller in Q1 2021 was Curi RMB Capital, an estimated $709K sold.
Based on aggregated 13F filings for Q1 2021.