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RMM

RiverNorth Managed Duration Municipal Income Fund
RMM

40 hedge funds and large institutions have $46M invested in RiverNorth Managed Duration Municipal Income Fund in 2023 Q4 according to their latest regulatory filings, with 10 funds opening new positions, 11 increasing their positions, 10 reducing their positions, and 1 closing their positions.

New
Increased
Maintained
Reduced
Closed

900% more first-time investments, than exits

New positions opened: 10 | Existing positions closed: 1

37% more capital invested

Capital invested by funds: $33.6M → $46M (+$12.4M)

29% more funds holding

Funds holding: 31 → 40 (+9)

10% more repeat investments, than reductions

Existing positions increased: 11 | Existing positions reduced: 10

4.03% more ownership

Funds ownership: 12.39% → 16.43% (+4%)

Holders
40
Holders Change
+9
Holders Change %
+29.03%
% of All Funds
0.58%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
10
Increased
11
Reduced
10
Closed
1
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$4.16M
2
LSC
Logan Stone Capital
Illinois
+$2.02M
3
Wells Fargo
Wells Fargo
California
+$1.22M
4
LCM
Landscape Capital Management
New Jersey
+$953K
5
PMG
ProVise Management Group
Florida
+$725K

Top Sellers

Rank Fund Capital Flow
1
LPL Financial
LPL Financial
California
-$414K
2
Truist Financial
Truist Financial
North Carolina
-$143K
3
SWP
Stratos Wealth Partners
Ohio
-$119K
4
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$116K
5
UBS Group
UBS Group
Switzerland
-$52.1K
Name Holding Trade Value Shares
Change 		Change in
Stake
SPIA
26
Steward Partners Investment Advisory
New York
$246K -$1.16K -84 -0.5%
BRWA
27
B. Riley Wealth Advisors
Florida
$239K – – –
WS
28
Wedbush Securities
California
$210K +$6.71K +485 +3%
AWM
29
AE Wealth Management
Kansas
$204K – – –
TPWM
30
Twelve Points Wealth Management
Massachusetts
$194K – – –
CAM
31
Cresset Asset Management
Illinois
$187K +$35.3K +2,549 +24%
P
32
&Partners
Tennessee
$181K +$174K +12,551 New
MWM
33
Melfa Wealth Management
Massachusetts
$154K – – –
CW
34
CreativeOne Wealth
Kansas
$146K -$44.2K -3,193 -24%
MC
35
Moors & Cabot
Massachusetts
$142K +$138K +10,000 New
PA
36
Parallel Advisors
California
$62.7K +$5.88K +425 +11%
HI
37
Harbour Investments
Wisconsin
$17.7K – – –
WBC
38
West Branch Capital
Massachusetts
$7.09K – – –
Comerica Bank
39
Comerica Bank
Texas
$5.2K -$27.7K -2,000 -84%
HCM
40
Hollencrest Capital Management
California
$3.47K – – –
Bank of America
41
Bank of America
North Carolina
– -$27.4K -2,000 Closed
1
2

RMM Hedge Fund Activity: Q4 2023 in Review

40 of the 6,860 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q4 2023, worth a combined $46M — up 37% from $33.6M a quarter earlier.

Buyers outnumbered sellers: 10 funds opened new RMM positions and 1 closed out — a net gain of 9 holders — while 11 added to existing stakes and 10 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $4.16M. The largest seller was LPL Financial, cutting an estimated $414K.

  • 40 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q4 2023, up from 31 in Q3 2023.
  • Funds reported $46M of RiverNorth Managed Duration Municipal Income Fund stock for Q4 2023, up 37% quarter-over-quarter.
  • 10 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q4 2023 and 1 closed out, a net change of +9 holders.
  • The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q4 2023 was Morgan Stanley, an estimated $4.16M added.
  • The largest RiverNorth Managed Duration Municipal Income Fund seller in Q4 2023 was LPL Financial, an estimated $414K sold.

Based on aggregated 13F filings for Q4 2023.