RiverNorth Managed Duration Municipal Income Fund II
RMMZ
13 hedge funds and large institutions have $20M invested in RiverNorth Managed Duration Municipal Income Fund II in 2023 Q2 according to their latest regulatory filings, with 2 funds opening new positions, 5 increasing their positions, 4 reducing their positions, and 0 closing their positions.
41% more capital invested
Capital invested by funds: $14.2M → $20M (+$5.79M)
25% more repeat investments, than reductions
Existing positions increased: 5 | Existing positions reduced: 4
18% more funds holding
Funds holding: 11 → 13 (+2)
3.68% more ownership
Funds ownership: 11.43% → 15.11% (+3.7%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
+$4.69M |
| 2 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
+$598K |
| 3 |
WS
Wedbush Securities
Los Angeles,
California
|
+$415K |
| 4 |
Wells Fargo
San Francisco,
California
|
+$221K |
| 5 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
+$159K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$1.39M |
| 2 |
Stifel Financial
St. Louis,
Missouri
|
-$42.5K |
| 3 |
Morgan Stanley
New York
|
-$28.6K |
| 4 |
SIC
Samalin Investment Counsel
Chappaqua,
New York
|
-$23K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
1
UBS Group
Zurich,
Switzerland
| $7.4M | +$4.69M | +303,961 | +193% |
|
|
KIM
2
Karpus Investment Management
Pittsford,
New York
| $4.89M | -$1.39M | -90,336 | -23% |
|
|
3
Wells Fargo
San Francisco,
California
| $1.87M | +$221K | +14,366 | +14% |
|
|
4
Royal Bank of Canada
Toronto,
Ontario, Canada
| $1.65M | +$598K | +38,777 | +60% |
|
|
5
Morgan Stanley
New York
| $1.57M | -$28.6K | -1,858 | -2% |
|
|
WS
6
Wedbush Securities
Los Angeles,
California
| $714K | +$415K | +26,903 | +153% |
|
|
7
Stifel Financial
St. Louis,
Missouri
| $688K | -$42.5K | -2,755 | -6% |
|
|
SIC
8
Samalin Investment Counsel
Chappaqua,
New York
| $459K | -$23K | -1,489 | -5% |
|
9
Osaic Holdings
Scottsdale,
Arizona
| $281K | – | – | – |
|
|
ACM
10
Arlington Capital Management
Arlington Heights,
Illinois
| $235K | +$19.9K | +1,293 | +10% |
|
|
RJA
11
Raymond James & Associates
St Petersburg,
Florida
| $166K | +$159K | +10,325 | New |
|
|
QL
12
Quarry LP
New York
| $78.2K | +$75.1K | +4,875 | New |
|
|
PTC
13
Private Trust Company
Cleveland,
Ohio
| $12.4K | – | – | – |
|
RMMZ Hedge Fund Activity: Q2 2023 in Review
13 of the 6,370 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund II (RMMZ) for Q2 2023, worth a combined $20M — up 41% from $14.2M a quarter earlier.
Buyers outnumbered sellers: 2 funds opened new RMMZ positions and 0 closed out — a net gain of 2 holders — while 5 added to existing stakes and 4 trimmed.
The largest buyer was UBS Group, adding an estimated $4.69M. The largest seller was Karpus Investment Management, cutting an estimated $1.39M.
- 13 institutional investors held RiverNorth Managed Duration Municipal Income Fund II (RMMZ) as of Q2 2023, up from 11 in Q1 2023.
- Funds reported $20M of RiverNorth Managed Duration Municipal Income Fund II stock for Q2 2023, up 41% quarter-over-quarter.
- 2 funds opened new RiverNorth Managed Duration Municipal Income Fund II positions in Q2 2023 and 0 closed out, a net change of +2 holders.
- The largest RiverNorth Managed Duration Municipal Income Fund II buyer in Q2 2023 was UBS Group, an estimated $4.69M added.
- The largest RiverNorth Managed Duration Municipal Income Fund II seller in Q2 2023 was Karpus Investment Management, an estimated $1.39M sold.
Based on aggregated 13F filings for Q2 2023.