RiverNorth Managed Duration Municipal Income Fund
RMM
15 hedge funds and large institutions have $22.5M invested in RiverNorth Managed Duration Municipal Income Fund in 2020 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 6 increasing their positions, 2 reducing their positions, and 5 closing their positions.
394% more capital inflows, than outflows
Capital inflows: $8.38M | Capital outflows: $1.7M
200% more repeat investments, than reductions
Existing positions increased: 6 | Existing positions reduced: 2
40% more first-time investments, than exits
New positions opened: 7 | Existing positions closed: 5
1.6% more ownership
Funds ownership: 5.3% → 6.9% (+1.6%)
0% more funds holding
Funds holding: 15 → 15 (0)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$3.02M |
| 2 |
Wells Fargo
San Francisco,
California
|
+$1.46M |
| 3 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$1.25M |
| 4 |
Stifel Financial
St. Louis,
Missouri
|
+$1.11M |
| 5 |
Moors & Cabot
Boston,
Massachusetts
|
+$602K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wolverine Asset Management
Chicago,
Illinois
|
-$582K |
| 2 |
Clough Capital Partners
Boston,
Massachusetts
|
-$545K |
| 3 |
USCA RIA
Houston,
Texas
|
-$290K |
| 4 |
Landscape Capital Management
Englewood,
New Jersey
|
-$203K |
| 5 |
UBS Group
Zurich,
Switzerland
|
-$46.9K |
RMM Hedge Fund Activity: Q1 2020 in Review
15 of the 4,549 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q1 2020, worth a combined $22.5M — up 20% from $18.7M a quarter earlier.
Buyers outnumbered sellers: 7 funds opened new RMM positions and 5 closed out — a net gain of 2 holders — while 6 added to existing stakes and 2 trimmed.
The largest buyer was Morgan Stanley, opening a new position worth an estimated $3.02M. The largest seller was Wolverine Asset Management, exiting entirely with an estimated $582K sold.
- 15 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q1 2020, unchanged from Q4 2019.
- Funds reported $22.5M of RiverNorth Managed Duration Municipal Income Fund stock for Q1 2020, up 20% quarter-over-quarter.
- 7 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q1 2020 and 5 closed out, a net change of +2 holders.
- The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q1 2020 was Morgan Stanley, an estimated $3.02M added.
- The largest RiverNorth Managed Duration Municipal Income Fund seller in Q1 2020 was Wolverine Asset Management, an estimated $582K sold.
Based on aggregated 13F filings for Q1 2020.