RiverNorth Managed Duration Municipal Income Fund
RMM
30 hedge funds and large institutions have $33.5M invested in RiverNorth Managed Duration Municipal Income Fund in 2022 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 10 increasing their positions, 12 reducing their positions, and 2 closing their positions.
250% more first-time investments, than exits
New positions opened: 7 | Existing positions closed: 2
11% more funds holding
Funds holding: 27 → 30 (+3)
1.18% less ownership
Funds ownership: 11.06% → 9.88% (-1.2%)
17% less repeat investments, than reductions
Existing positions increased: 10 | Existing positions reduced: 12
24% less capital invested
Capital invested by funds: $44M → $33.5M (-$10.4M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SWP
Stratos Wealth Partners
Beachwood,
Ohio
|
+$1.44M |
| 2 |
Morgan Stanley
New York
|
+$1.06M |
| 3 |
Stifel Financial
St. Louis,
Missouri
|
+$684K |
| 4 |
Bank of America
Charlotte,
North Carolina
|
+$449K |
| 5 |
Envestnet Asset Management
Chicago,
Illinois
|
+$385K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$6.21M |
| 2 |
WWMSC
Wagner Wealth Management (South Carolina)
Greenville,
South Carolina
|
-$585K |
| 3 |
Wells Fargo
San Francisco,
California
|
-$520K |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$490K |
| 5 |
KCPG
Kavar Capital Partners Group
Leawood,
Kansas
|
-$465K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
ACM
26
AlphaStar Capital Management
Cornelius,
North Carolina
| $200K | -$174K | -9,599 | -45% |
|
|
WLPWM
27
Walled Lake Planning & Wealth Management
Winnetka,
Illinois
| $197K | +$207K | +11,443 | New |
|
|
SPIA
28
Steward Partners Investment Advisory
New York
| $127K | +$133K | +7,371 | New |
|
|
BAM
29
Belpointe Asset Management
Reno,
Nevada
| $106K | – | – | – |
|
30
Rockefeller Capital Management
New York
| $44K | +$19.9K | +1,098 | +73% |
|
|
KCPG
31
Kavar Capital Partners Group
Leawood,
Kansas
| – | -$465K | -23,100 | Closed |
|
32
Carson Wealth (CWM LLC)
Omaha,
Nebraska
| – | -$50K | -2,500 | Closed |
|
RMM Hedge Fund Activity: Q1 2022 in Review
30 of the 6,341 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q1 2022, worth a combined $33.5M — down 24% from $44M a quarter earlier.
Buyers outnumbered sellers: 7 funds opened new RMM positions and 2 closed out — a net gain of 5 holders — while 10 added to existing stakes and 12 trimmed.
The largest buyer was Stratos Wealth Partners, opening a new position worth an estimated $1.44M. The largest seller was Karpus Investment Management, cutting an estimated $6.21M.
- 30 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q1 2022, up from 27 in Q4 2021.
- Funds reported $33.5M of RiverNorth Managed Duration Municipal Income Fund stock for Q1 2022, down 24% quarter-over-quarter.
- 7 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q1 2022 and 2 closed out, a net change of +5 holders.
- The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q1 2022 was Stratos Wealth Partners, an estimated $1.44M added.
- The largest RiverNorth Managed Duration Municipal Income Fund seller in Q1 2022 was Karpus Investment Management, an estimated $6.21M sold.
Based on aggregated 13F filings for Q1 2022.