RiverNorth Managed Duration Municipal Income Fund
RMM
27 hedge funds and large institutions have $44M invested in RiverNorth Managed Duration Municipal Income Fund in 2021 Q4 according to their latest regulatory filings, with 3 funds opening new positions, 12 increasing their positions, 8 reducing their positions, and 1 closing their positions.
200% more first-time investments, than exits
New positions opened: 3 | Existing positions closed: 1
50% more repeat investments, than reductions
Existing positions increased: 12 | Existing positions reduced: 8
8% more funds holding
Funds holding: 25 → 27 (+2)
2.05% less ownership
Funds ownership: 13.12% → 11.06% (-2.1%)
14% less capital invested
Capital invested by funds: $51.3M → $44M (-$7.36M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wells Fargo
San Francisco,
California
|
+$322K |
| 2 |
AWM
AE Wealth Management
Topeka,
Kansas
|
+$221K |
| 3 |
Osaic Holdings
Scottsdale,
Arizona
|
+$205K |
| 4 |
MC
Moors & Cabot
Boston,
Massachusetts
|
+$128K |
| 5 |
BAM
Belpointe Asset Management
Reno,
Nevada
|
+$121K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$4.91M |
| 2 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$3.38M |
| 3 |
ACM
AlphaStar Capital Management
Cornelius,
North Carolina
|
-$551K |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$275K |
| 5 |
UBS Group
Zurich,
Switzerland
|
-$179K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
26
Carson Wealth (CWM LLC)
Omaha,
Nebraska
| $50K | +$49.3K | +2,500 | New |
|
27
Rockefeller Capital Management
New York
| $30K | – | – | – |
|
|
28
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| – | -$275K | -13,871 | Closed |
|
RMM Hedge Fund Activity: Q4 2021 in Review
27 of the 6,499 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q4 2021, worth a combined $44M — down 14% from $51.3M a quarter earlier.
Buyers outnumbered sellers: 3 funds opened new RMM positions and 1 closed out — a net gain of 2 holders — while 12 added to existing stakes and 8 trimmed.
The largest buyer was Wells Fargo, adding an estimated $322K. The largest seller was Karpus Investment Management, cutting an estimated $4.91M.
- 27 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q4 2021, up from 25 in Q3 2021.
- Funds reported $44M of RiverNorth Managed Duration Municipal Income Fund stock for Q4 2021, down 14% quarter-over-quarter.
- 3 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q4 2021 and 1 closed out, a net change of +2 holders.
- The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q4 2021 was Wells Fargo, an estimated $322K added.
- The largest RiverNorth Managed Duration Municipal Income Fund seller in Q4 2021 was Karpus Investment Management, an estimated $4.91M sold.
Based on aggregated 13F filings for Q4 2021.