RiverNorth Managed Duration Municipal Income Fund
RMM
34 hedge funds and large institutions have $30.5M invested in RiverNorth Managed Duration Municipal Income Fund in 2023 Q1 according to their latest regulatory filings, with 8 funds opening new positions, 12 increasing their positions, 6 reducing their positions, and 7 closing their positions.
100% more repeat investments, than reductions
Existing positions increased: 12 | Existing positions reduced: 6
14% more first-time investments, than exits
New positions opened: 8 | Existing positions closed: 7
3% more funds holding
Funds holding: 33 → 34 (+1)
0.87% less ownership
Funds ownership: 11.13% → 10.27% (-0.87%)
3% less capital invested
Capital invested by funds: $31.6M → $30.5M (-$1.1M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wells Fargo
San Francisco,
California
|
+$734K |
| 2 |
AWE
Avidian Wealth Enterprises
Houston,
Texas
|
+$372K |
| 3 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
+$358K |
| 4 |
PMG
ProVise Management Group
Clearwater,
Florida
|
+$337K |
| 5 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
+$325K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
-$2.2M |
| 2 |
SWP
Stratos Wealth Partners
Beachwood,
Ohio
|
-$1.79M |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$669K |
| 4 |
MC
Moors & Cabot
Boston,
Massachusetts
|
-$562K |
| 5 |
VF
Virtu Financial
New York
|
-$221K |
RMM Hedge Fund Activity: Q1 2023 in Review
34 of the 6,276 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q1 2023, worth a combined $30.5M — down 3.5% from $31.6M a quarter earlier.
Buyers outnumbered sellers: 8 funds opened new RMM positions and 7 closed out — a net gain of 1 holder — while 12 added to existing stakes and 6 trimmed.
The largest buyer was Wells Fargo, adding an estimated $734K. The largest seller was Logan Stone Capital, exiting entirely with an estimated $2.2M sold.
- 34 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q1 2023, up from 33 in Q4 2022.
- Funds reported $30.5M of RiverNorth Managed Duration Municipal Income Fund stock for Q1 2023, down 3.5% quarter-over-quarter.
- 8 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q1 2023 and 7 closed out, a net change of +1 holder.
- The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q1 2023 was Wells Fargo, an estimated $734K added.
- The largest RiverNorth Managed Duration Municipal Income Fund seller in Q1 2023 was Logan Stone Capital, an estimated $2.2M sold.
Based on aggregated 13F filings for Q1 2023.