RiverNorth Managed Duration Municipal Income Fund
RMM
25 hedge funds and large institutions have $51.3M invested in RiverNorth Managed Duration Municipal Income Fund in 2021 Q3 according to their latest regulatory filings, with 5 funds opening new positions, 7 increasing their positions, 10 reducing their positions, and 8 closing their positions.
0.97% less ownership
Funds ownership: 14.09% → 13.12% (-0.97%)
9% less capital invested
Capital invested by funds: $56.4M → $51.3M (-$5.06M)
14% less funds holding
Funds holding: 29 → 25 (-4)
30% less repeat investments, than reductions
Existing positions increased: 7 | Existing positions reduced: 10
38% less first-time investments, than exits
New positions opened: 5 | Existing positions closed: 8
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ACM
AlphaStar Capital Management
Cornelius,
North Carolina
|
+$1.03M |
| 2 |
KCPG
Kavar Capital Partners Group
Leawood,
Kansas
|
+$486K |
| 3 |
XF
XML Financial
Bethesda,
Maryland
|
+$396K |
| 4 |
MC
Moors & Cabot
Boston,
Massachusetts
|
+$337K |
| 5 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$303K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$2.74M |
| 2 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
-$895K |
| 3 |
PPA
Parametric Portfolio Associates
Seattle,
Washington
|
-$800K |
| 4 |
Wells Fargo
San Francisco,
California
|
-$493K |
| 5 |
ACA
Ackerman Capital Advisors
Dallas,
Texas
|
-$290K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
RCM
26
Robinson Capital Management
Grosse Pointe Farms,
Michigan
| – | -$895K | -44,141 | Closed |
|
|
PPA
27
Parametric Portfolio Associates
Seattle,
Washington
| – | -$800K | -39,441 | Closed |
|
|
ACA
28
Ackerman Capital Advisors
Dallas,
Texas
| – | -$290K | -14,305 | Closed |
|
|
TJHA
29
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
| – | -$244K | -12,041 | Closed |
|
|
MA
30
Mutual Advisors
Omaha,
Nebraska
| – | -$209K | -10,305 | Closed |
|
|
SMH
31
Sanders Morris Harris
Houston,
Texas
| – | -$210K | -10,300 | Closed |
|
|
KAS
32
Kestra Advisory Services
Austin,
Texas
| – | -$204K | -10,035 | Closed |
|
33
Citigroup
New York
| – | -$19K | -919 | Closed |
|
RMM Hedge Fund Activity: Q3 2021 in Review
25 of the 5,713 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q3 2021, worth a combined $51.3M — down 9% from $56.4M a quarter earlier.
Sellers outnumbered buyers: 8 funds closed out of RMM and 5 opened new positions — a net loss of 3 holders — while 10 trimmed existing stakes and 7 added.
The largest buyer was AlphaStar Capital Management, opening a new position worth an estimated $1.03M. The largest seller was Morgan Stanley, cutting an estimated $2.74M.
- 25 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q3 2021, down from 29 in Q2 2021.
- Funds reported $51.3M of RiverNorth Managed Duration Municipal Income Fund stock for Q3 2021, down 9% quarter-over-quarter.
- 5 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q3 2021 and 8 closed out, a net change of -3 holders.
- The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q3 2021 was AlphaStar Capital Management, an estimated $1.03M added.
- The largest RiverNorth Managed Duration Municipal Income Fund seller in Q3 2021 was Morgan Stanley, an estimated $2.74M sold.
Based on aggregated 13F filings for Q3 2021.