RiverNorth Managed Duration Municipal Income Fund
RMM
31 hedge funds and large institutions have $33.6M invested in RiverNorth Managed Duration Municipal Income Fund in 2023 Q3 according to their latest regulatory filings, with 3 funds opening new positions, 11 increasing their positions, 9 reducing their positions, and 3 closing their positions.
22% more repeat investments, than reductions
Existing positions increased: 11 | Existing positions reduced: 9
0% more funds holding
Funds holding: 31 → 31 (0)
0% more first-time investments, than exits
New positions opened: 3 | Existing positions closed: 3
0.09% less ownership
Funds ownership: 12.48% → 12.39% (-0.09%)
10% less capital invested
Capital invested by funds: $37.3M → $33.6M (-$3.73M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PMG
ProVise Management Group
Clearwater,
Florida
|
+$525K |
| 2 |
Stifel Financial
St. Louis,
Missouri
|
+$350K |
| 3 |
USCWA
U.S. Capital Wealth Advisors
Austin,
Texas
|
+$243K |
| 4 |
Wells Fargo
San Francisco,
California
|
+$231K |
| 5 |
CAM
Cresset Asset Management
Chicago,
Illinois
|
+$162K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WS
Wedbush Securities
Los Angeles,
California
|
-$412K |
| 2 |
LPL Financial
San Diego,
California
|
-$285K |
| 3 |
Truist Financial
Charlotte,
North Carolina
|
-$250K |
| 4 |
VCP
Verus Capital Partners
Scottsdale,
Arizona
|
-$197K |
| 5 |
BRWA
B. Riley Wealth Advisors
Boca Raton,
Florida
|
-$192K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
PA
26
Parallel Advisors
San Francisco,
California
| $54.8K | +$9.48K | +625 | +19% |
|
27
Comerica Bank
Dallas,
Texas
| $32.5K | +$35.9K | +2,367 | New |
|
28
Bank of America
Charlotte,
North Carolina
| $27.4K | +$30.3K | +2,000 | New |
|
|
HI
29
Harbour Investments
Madison,
Wisconsin
| $17.1K | – | – | – |
|
|
WBC
30
West Branch Capital
Amherst,
Massachusetts
| $6.86K | – | – | – |
|
|
HCM
31
Hollencrest Capital Management
Newport Beach,
California
| $3.36K | – | – | – |
|
|
VCP
32
Verus Capital Partners
Scottsdale,
Arizona
| – | -$197K | -13,000 | Closed |
|
|
SIC
33
Samalin Investment Counsel
Chappaqua,
New York
| – | -$184K | -12,181 | Closed |
|
|
KCPG
34
Kavar Capital Partners Group
Leawood,
Kansas
| – | -$175K | -11,554 | Closed |
|
RMM Hedge Fund Activity: Q3 2023 in Review
31 of the 6,302 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q3 2023, worth a combined $33.6M — down 10% from $37.3M a quarter earlier.
Fund positioning in RMM was balanced in Q3 2023: 3 funds opened new positions, 3 closed out, 11 added to existing stakes and 9 trimmed.
The largest buyer was ProVise Management Group, adding an estimated $525K. The largest seller was Wedbush Securities, cutting an estimated $412K.
- 31 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q3 2023, unchanged from Q2 2023.
- Funds reported $33.6M of RiverNorth Managed Duration Municipal Income Fund stock for Q3 2023, down 10% quarter-over-quarter.
- 3 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q3 2023 and 3 closed out, a net change of 0 holders.
- The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q3 2023 was ProVise Management Group, an estimated $525K added.
- The largest RiverNorth Managed Duration Municipal Income Fund seller in Q3 2023 was Wedbush Securities, an estimated $412K sold.
Based on aggregated 13F filings for Q3 2023.