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RMM

RiverNorth Managed Duration Municipal Income Fund
RMM

15 hedge funds and large institutions have $18.7M invested in RiverNorth Managed Duration Municipal Income Fund in 2019 Q4 according to their latest regulatory filings, with 9 funds opening new positions, 4 increasing their positions, 2 reducing their positions, and closing their positions.

New
Increased
Maintained
Reduced
Closed

150% more funds holding

Funds holding: 6 → 15 (+9)

100% more repeat investments, than reductions

Existing positions increased: 4 | Existing positions reduced: 2

33% more capital invested

Capital invested by funds: $14M → $18.7M (+$4.69M)

1.47% more ownership

Funds ownership: 3.83% → 5.3% (+1.5%)

Holders
15
Holders Change
+9
Holders Change %
+150%
% of All Funds
0.3%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
9
Increased
4
Reduced
2
Closed
–
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$1.82M
2
UBS Group
UBS Group
Switzerland
+$1.08M
3
Truist Financial
Truist Financial
North Carolina
+$784K
4
WAM
Wolverine Asset Management
Illinois
+$597K
5
CCP
Clough Capital Partners
Massachusetts
+$559K

Top Sellers

Rank Fund Capital Flow
1
Wells Fargo
Wells Fargo
California
-$1.15M
2
VF
Virtu Financial
New York
-$210K
Name Holding Trade Value Shares
Change 		Change in
Stake
UBS Group
1
UBS Group
Switzerland
$7.91M +$1.08M +54,506 +15%
Royal Bank of Canada
2
Royal Bank of Canada
Ontario, Canada
$3.88M +$1.82M +91,656 +84%
Wells Fargo
3
Wells Fargo
California
$1.93M -$1.15M -57,831 -37%
Truist Financial
4
Truist Financial
North Carolina
$765K +$784K +39,534 New
Stifel Financial
5
Stifel Financial
Missouri
$673K +$109K +5,474 +19%
WAM
6
Wolverine Asset Management
Illinois
$582K +$597K +30,114 New
CCP
7
Clough Capital Partners
Massachusetts
$545K +$559K +28,200 New
NL
8
NWAM LLC
Washington
$524K +$537K +27,100 New
WS
9
Wedbush Securities
California
$520K +$266K +13,396 +99%
VF
10
Virtu Financial
New York
$486K -$210K -10,615 -30%
UR
11
USCA RIA
Texas
$290K +$297K +15,000 New
TJHA
12
Thomas J. Herzfeld Advisors
Florida
$243K +$250K +12,590 New
LCM
13
Landscape Capital Management
New Jersey
$203K +$209K +10,522 New
HWM
14
Howard Wealth Management
Connecticut
$159K +$163K +8,225 New
TRCT
15
Tower Research Capital (TRC)
New York
$1K +$1.19K +60 New

RMM Hedge Fund Activity: Q4 2019 in Review

15 of the 5,076 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q4 2019, worth a combined $18.7M — up 33% from $14M a quarter earlier.

Buyers outnumbered sellers: 9 funds opened new RMM positions and 0 closed out — a net gain of 9 holders — while 4 added to existing stakes and 2 trimmed.

The largest buyer was Royal Bank of Canada, adding an estimated $1.82M. The largest seller was Wells Fargo, cutting an estimated $1.15M.

  • 15 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q4 2019, up from 6 in Q3 2019.
  • Funds reported $18.7M of RiverNorth Managed Duration Municipal Income Fund stock for Q4 2019, up 33% quarter-over-quarter.
  • 9 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q4 2019 and 0 closed out, a net change of +9 holders.
  • The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q4 2019 was Royal Bank of Canada, an estimated $1.82M added.
  • The largest RiverNorth Managed Duration Municipal Income Fund seller in Q4 2019 was Wells Fargo, an estimated $1.15M sold.

Based on aggregated 13F filings for Q4 2019.