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RMM

RiverNorth Managed Duration Municipal Income Fund
RMM

43 hedge funds and large institutions have $45.8M invested in RiverNorth Managed Duration Municipal Income Fund in 2024 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 12 increasing their positions, 14 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

75% more first-time investments, than exits

New positions opened: 7 | Existing positions closed: 4

8% more funds holding

Funds holding: 40 → 43 (+3)

0% less capital invested

Capital invested by funds: $46M → $45.8M (-$196K)

0.91% less ownership

Funds ownership: 16.43% → 15.51% (-0.91%)

14% less repeat investments, than reductions

Existing positions increased: 12 | Existing positions reduced: 14

Holders
43
Holders Change
+3
Holders Change %
+7.5%
% of All Funds
0.62%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
7
Increased
12
Reduced
14
Closed
4
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RCM
Robinson Capital Management
Michigan
+$1.29M
2
Wells Fargo
Wells Fargo
California
+$1.17M
3
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$366K
4
OC
Oppenheimer & Co
New York
+$353K
5
FWM
Fairhaven Wealth Management
Illinois
+$295K

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$4.05M
2
LSC
Logan Stone Capital
Illinois
-$993K
3
EC
Elequin Capital
New York
-$477K
4
MG
Marex Group
-$470K
5
LCM
Landscape Capital Management
New Jersey
-$304K
Name Holding Trade Value Shares
Change 		Change in
Stake
RJFSA
26
Raymond James Financial Services Advisors
Florida
$211K -$179K -12,000 -46%
Bank of America
27
Bank of America
North Carolina
$205K +$205K +13,727 New
TPWM
28
Twelve Points Wealth Management
Massachusetts
$205K – – –
AWM
29
AE Wealth Management
Kansas
$201K -$6.28K -420 -3%
CAM
30
Cresset Asset Management
Illinois
$198K – – –
Jane Street
31
Jane Street
New York
$191K +$191K +12,766 New
P
32
&Partners
Tennessee
$188K – – –
SPIA
33
Steward Partners Investment Advisory
New York
$180K -$80.2K -5,360 -31%
Nomura Holdings
34
Nomura Holdings
Japan
$178K -$98.1K -6,558 -36%
CW
35
CreativeOne Wealth
Kansas
$166K +$12.3K +824 +8%
MWM
36
Melfa Wealth Management
Massachusetts
$162K – – –
AAS
37
Avantax Advisory Services
Texas
$150K +$150K +10,020 New
MC
38
Moors & Cabot
Massachusetts
$150K – – –
PA
39
Parallel Advisors
California
$31K -$35.1K -2,350 -53%
HI
40
Harbour Investments
Wisconsin
$18.7K – – –
WBC
41
West Branch Capital
Massachusetts
$7.49K – – –
Comerica Bank
42
Comerica Bank
Texas
$6.21K +$718 +48 +13%
HCM
43
Hollencrest Capital Management
California
$3.67K – – –
EC
44
Elequin Capital
New York
– -$477K -33,628 Closed
MG
45
Marex Group
– -$470K -33,173 Closed
Susquehanna International Group
46
Susquehanna International Group
Pennsylvania
– -$297K -20,978 Closed
WAM
47
Weiss Asset Management
Massachusetts
– -$253K -17,861 Closed
1
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RMM Hedge Fund Activity: Q1 2024 in Review

43 of the 6,943 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q1 2024, worth a combined $45.8M — down 0.43% from $46M a quarter earlier.

Buyers outnumbered sellers: 7 funds opened new RMM positions and 4 closed out — a net gain of 3 holders — while 12 added to existing stakes and 14 trimmed.

The largest buyer was Robinson Capital Management, opening a new position worth an estimated $1.29M. The largest seller was Morgan Stanley, cutting an estimated $4.05M.

  • 43 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q1 2024, up from 40 in Q4 2023.
  • Funds reported $45.8M of RiverNorth Managed Duration Municipal Income Fund stock for Q1 2024, down 0.43% quarter-over-quarter.
  • 7 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q1 2024 and 4 closed out, a net change of +3 holders.
  • The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q1 2024 was Robinson Capital Management, an estimated $1.29M added.
  • The largest RiverNorth Managed Duration Municipal Income Fund seller in Q1 2024 was Morgan Stanley, an estimated $4.05M sold.

Based on aggregated 13F filings for Q1 2024.