RiverNorth Managed Duration Municipal Income Fund
RMM
28 hedge funds and large institutions have $29.9M invested in RiverNorth Managed Duration Municipal Income Fund in 2022 Q2 according to their latest regulatory filings, with 4 funds opening new positions, 14 increasing their positions, 8 reducing their positions, and 6 closing their positions.
75% more repeat investments, than reductions
Existing positions increased: 14 | Existing positions reduced: 8
0.28% less ownership
Funds ownership: 9.88% → 9.61% (-0.28%)
7% less funds holding
Funds holding: 30 → 28 (-2)
11% less capital invested
Capital invested by funds: $33.5M → $29.9M (-$3.6M)
33% less first-time investments, than exits
New positions opened: 4 | Existing positions closed: 6
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Osaic Holdings
Scottsdale,
Arizona
|
+$750K |
| 2 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$616K |
| 3 |
SWP
Stratos Wealth Partners
Beachwood,
Ohio
|
+$586K |
| 4 |
Morgan Stanley
New York
|
+$503K |
| 5 |
MC
Moors & Cabot
Boston,
Massachusetts
|
+$440K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$2.37M |
| 2 |
Wells Fargo
San Francisco,
California
|
-$627K |
| 3 |
XF
XML Financial
Bethesda,
Maryland
|
-$460K |
| 4 |
Envestnet Asset Management
Chicago,
Illinois
|
-$365K |
| 5 |
AWM
AE Wealth Management
Topeka,
Kansas
|
-$233K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
HI
26
Harbour Investments
Madison,
Wisconsin
| $57K | +$57.7K | +3,603 | New |
|
|
SWM
27
Spire Wealth Management
Mclean,
Virginia
| $9K | +$9.6K | +600 | New |
|
28
Bessemer Group
Woodbridge,
New Jersey
| $2K | +$2.02K | +126 | New |
|
|
KIM
29
Karpus Investment Management
Pittsford,
New York
| – | -$2.37M | -138,117 | Closed |
|
|
XF
30
XML Financial
Bethesda,
Maryland
| – | -$460K | -26,750 | Closed |
|
|
31
Envestnet Asset Management
Chicago,
Illinois
| – | -$365K | -21,251 | Closed |
|
|
ACM
32
AlphaStar Capital Management
Cornelius,
North Carolina
| – | -$200K | -11,629 | Closed |
|
|
WLPWM
33
Walled Lake Planning & Wealth Management
Winnetka,
Illinois
| – | -$197K | -11,443 | Closed |
|
|
BAM
34
Belpointe Asset Management
Reno,
Nevada
| – | -$106K | -6,150 | Closed |
|
RMM Hedge Fund Activity: Q2 2022 in Review
28 of the 5,937 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q2 2022, worth a combined $29.9M — down 11% from $33.5M a quarter earlier.
Sellers outnumbered buyers: 6 funds closed out of RMM and 4 opened new positions — a net loss of 2 holders — while 8 trimmed existing stakes and 14 added.
The largest buyer was Osaic Holdings, adding an estimated $750K. The largest seller was Karpus Investment Management, exiting entirely with an estimated $2.37M sold.
- 28 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q2 2022, down from 30 in Q1 2022.
- Funds reported $29.9M of RiverNorth Managed Duration Municipal Income Fund stock for Q2 2022, down 11% quarter-over-quarter.
- 4 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q2 2022 and 6 closed out, a net change of -2 holders.
- The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q2 2022 was Osaic Holdings, an estimated $750K added.
- The largest RiverNorth Managed Duration Municipal Income Fund seller in Q2 2022 was Karpus Investment Management, an estimated $2.37M sold.
Based on aggregated 13F filings for Q2 2022.