RiverNorth Managed Duration Municipal Income Fund
RMM
40 hedge funds and large institutions have $46M invested in RiverNorth Managed Duration Municipal Income Fund in 2023 Q4 according to their latest regulatory filings, with 10 funds opening new positions, 11 increasing their positions, 10 reducing their positions, and 1 closing their positions.
900% more first-time investments, than exits
New positions opened: 10 | Existing positions closed: 1
37% more capital invested
Capital invested by funds: $33.6M → $46M (+$12.4M)
29% more funds holding
Funds holding: 31 → 40 (+9)
10% more repeat investments, than reductions
Existing positions increased: 11 | Existing positions reduced: 10
4.03% more ownership
Funds ownership: 12.39% → 16.43% (+4%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$4.16M |
| 2 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
+$2.02M |
| 3 |
Wells Fargo
San Francisco,
California
|
+$1.22M |
| 4 |
LCM
Landscape Capital Management
Englewood,
New Jersey
|
+$953K |
| 5 |
PMG
ProVise Management Group
Clearwater,
Florida
|
+$725K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LPL Financial
San Diego,
California
|
-$414K |
| 2 |
Truist Financial
Charlotte,
North Carolina
|
-$143K |
| 3 |
SWP
Stratos Wealth Partners
Beachwood,
Ohio
|
-$119K |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$116K |
| 5 |
UBS Group
Zurich,
Switzerland
|
-$52.1K |
RMM Hedge Fund Activity: Q4 2023 in Review
40 of the 6,860 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund (RMM) for Q4 2023, worth a combined $46M — up 37% from $33.6M a quarter earlier.
Buyers outnumbered sellers: 10 funds opened new RMM positions and 1 closed out — a net gain of 9 holders — while 11 added to existing stakes and 10 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $4.16M. The largest seller was LPL Financial, cutting an estimated $414K.
- 40 institutional investors held RiverNorth Managed Duration Municipal Income Fund (RMM) as of Q4 2023, up from 31 in Q3 2023.
- Funds reported $46M of RiverNorth Managed Duration Municipal Income Fund stock for Q4 2023, up 37% quarter-over-quarter.
- 10 funds opened new RiverNorth Managed Duration Municipal Income Fund positions in Q4 2023 and 1 closed out, a net change of +9 holders.
- The largest RiverNorth Managed Duration Municipal Income Fund buyer in Q4 2023 was Morgan Stanley, an estimated $4.16M added.
- The largest RiverNorth Managed Duration Municipal Income Fund seller in Q4 2023 was LPL Financial, an estimated $414K sold.
Based on aggregated 13F filings for Q4 2023.