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RMM

RiverNorth Managed Duration Municipal Income Fund
RMM

34 hedge funds and large institutions have $30.5M invested in RiverNorth Managed Duration Municipal Income Fund in 2023 Q1 according to their latest regulatory filings, with 8 funds opening new positions, 12 increasing their positions, 6 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more repeat investments, than reductions

Existing positions increased: 12 | Existing positions reduced: 6

14% more first-time investments, than exits

New positions opened: 8 | Existing positions closed: 7

3% more funds holding

Funds holding: 33 → 34 (+1)

0.87% less ownership

Funds ownership: 11.13% → 10.27% (-0.87%)

3% less capital invested

Capital invested by funds: $31.6M → $30.5M (-$1.1M)

Holders
34
Holders Change
+1
Holders Change %
+3.03%
% of All Funds
0.54%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
8
Increased
12
Reduced
6
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Wells Fargo
Wells Fargo
California
+$734K
2
AWE
Avidian Wealth Enterprises
Texas
+$372K
3
RJA
Raymond James & Associates
Florida
+$358K
4
PMG
ProVise Management Group
Florida
+$337K
5
RCM
Robinson Capital Management
Michigan
+$325K

Top Sellers

Rank Fund Capital Flow
1
LSC
Logan Stone Capital
Illinois
-$2.2M
2
SWP
Stratos Wealth Partners
Ohio
-$1.79M
3
UBS Group
UBS Group
Switzerland
-$669K
4
MC
Moors & Cabot
Massachusetts
-$562K
5
VF
Virtu Financial
New York
-$221K
Name Holding Trade Value Shares
Change 		Change in
Stake
KCPG
26
Kavar Capital Partners Group
Kansas
$187K +$193K +12,429 New
MWM
27
Melfa Wealth Management
Massachusetts
$163K – – –
BRWA
28
B. Riley Wealth Advisors
Florida
$161K – – –
BAM
29
Belpointe Asset Management
Nevada
$123K +$31K +2,000 +33%
PA
30
Parallel Advisors
California
$41K +$42.2K +2,721 New
HI
31
Harbour Investments
Wisconsin
$18.8K – – –
Carson Wealth (CWM LLC)
32
Carson Wealth (CWM LLC)
Nebraska
$13K +$13.1K +845 New
WBC
33
West Branch Capital
Massachusetts
$7.54K – – –
HCM
34
Hollencrest Capital Management
California
$3.69K – – –
LSC
35
Logan Stone Capital
Illinois
– -$2.2M -153,108 Closed
MC
36
Moors & Cabot
Massachusetts
– -$562K -39,000 Closed
VF
37
Virtu Financial
New York
– -$221K -15,374 Closed
WWMSC
38
Wagner Wealth Management (South Carolina)
South Carolina
– -$213K -14,779 Closed
NA
39
NewEdge Advisors
Louisiana
– -$72K -5,000 Closed
WAM
40
Wolverine Asset Management
Illinois
– -$49K -3,406 Closed
Bank of America
41
Bank of America
North Carolina
– -$25.2K -1,750 Closed
1
2

RMM Hedge Fund Activity: Q1 2023 in Review

34 of the 6,276 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q1 2023, worth a combined $30.5M — down 3.5% from $31.6M a quarter earlier.

Buyers outnumbered sellers: 8 funds opened new RMM positions and 7 closed out — a net gain of 1 holder — while 12 added to existing stakes and 6 trimmed.

The largest buyer was Wells Fargo, adding an estimated $734K. The largest seller was Logan Stone Capital, exiting entirely with an estimated $2.2M sold.

  • 34 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q1 2023, up from 33 in Q4 2022.
  • Funds reported $30.5M of RiverNorth Managed Duration Municipal Income Fund stock for Q1 2023, down 3.5% quarter-over-quarter.
  • 8 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q1 2023 and 7 closed out, a net change of +1 holder.
  • The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q1 2023 was Wells Fargo, an estimated $734K added.
  • The largest RiverNorth Managed Duration Municipal Income Fund seller in Q1 2023 was Logan Stone Capital, an estimated $2.2M sold.

Based on aggregated 13F filings for Q1 2023.