RiverNorth Managed Duration Municipal Income Fund
RMM
16 hedge funds and large institutions have $25M invested in RiverNorth Managed Duration Municipal Income Fund in 2020 Q2 according to their latest regulatory filings, with 3 funds opening new positions, 8 increasing their positions, 4 reducing their positions, and 2 closing their positions.
100% more repeat investments, than reductions
Existing positions increased: 8 | Existing positions reduced: 4
50% more first-time investments, than exits
New positions opened: 3 | Existing positions closed: 2
11% more capital invested
Capital invested by funds: $22.5M → $25M (+$2.51M)
7% more funds holding
Funds holding: 15 → 16 (+1)
1.1% more ownership
Funds ownership: 6.9% → 8% (+1.1%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
+$1.18M |
| 2 |
Morgan Stanley
New York
|
+$552K |
| 3 |
Truist Financial
Charlotte,
North Carolina
|
+$449K |
| 4 |
Wells Fargo
San Francisco,
California
|
+$437K |
| 5 |
Stifel Financial
St. Louis,
Missouri
|
+$294K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MC
Moors & Cabot
Boston,
Massachusetts
|
-$282K |
| 2 |
BRWM
B. Riley Wealth Management
Memphis,
Tennessee
|
-$208K |
| 3 |
FIA
FNY Investment Advisers
New York
|
-$41K |
| 4 |
Osaic Holdings
Scottsdale,
Arizona
|
-$29.9K |
| 5 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
-$2.15K |
RMM Hedge Fund Activity: Q2 2020 in Review
16 of the 4,888 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q2 2020, worth a combined $25M — up 11% from $22.5M a quarter earlier.
Buyers outnumbered sellers: 3 funds opened new RMM positions and 2 closed out — a net gain of 1 holder — while 8 added to existing stakes and 4 trimmed.
The largest buyer was UBS Group, adding an estimated $1.18M. The largest seller was Moors & Cabot, cutting an estimated $282K.
- 16 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q2 2020, up from 15 in Q1 2020.
- Funds reported $25M of RiverNorth Managed Duration Municipal Income Fund stock for Q2 2020, up 11% quarter-over-quarter.
- 3 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q2 2020 and 2 closed out, a net change of +1 holder.
- The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q2 2020 was UBS Group, an estimated $1.18M added.
- The largest RiverNorth Managed Duration Municipal Income Fund seller in Q2 2020 was Moors & Cabot, an estimated $282K sold.
Based on aggregated 13F filings for Q2 2020.