RiverNorth Managed Duration Municipal Income Fund II
RMMZ
21 hedge funds and large institutions have $18.9M invested in RiverNorth Managed Duration Municipal Income Fund II in 2025 Q3 according to their latest regulatory filings, with 2 funds opening new positions, 8 increasing their positions, 4 reducing their positions, and 3 closing their positions.
100% more repeat investments, than reductions
Existing positions increased: 8 | Existing positions reduced: 4
19% more capital invested
Capital invested by funds: $16M → $18.9M (+$2.95M)
1.24% more ownership
Funds ownership: 12.67% → 13.92% (+1.2%)
5% less funds holding
Funds holding: 22 → 21 (-1)
33% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 3
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GWP
Gateway Wealth Partners
Appleton,
Wisconsin
|
+$1.76M |
| 2 |
Morgan Stanley
New York
|
+$574K |
| 3 |
OC
Oppenheimer & Co
New York
|
+$150K |
| 4 |
Raymond James Financial
St Petersburg,
Florida
|
+$141K |
| 5 |
Wells Fargo
San Francisco,
California
|
+$111K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$1.04M |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$181K |
| 3 |
LPL Financial
San Diego,
California
|
-$72.6K |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$57.1K |
| 5 |
EC
Elequin Capital
New York
|
-$35.4K |
RMMZ Hedge Fund Activity: Q3 2025 in Review
21 of the 7,643 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Managed Duration Municipal Income Fund II (RMMZ) for Q3 2025, worth a combined $18.9M — up 19% from $16M a quarter earlier.
Sellers outnumbered buyers: 3 funds closed out of RMMZ and 2 opened new positions — a net loss of 1 holder — while 4 trimmed existing stakes and 8 added.
The largest buyer was Gateway Wealth Partners, opening a new position worth an estimated $1.76M. The largest seller was Karpus Investment Management, exiting entirely with an estimated $1.04M sold.
- 21 institutional investors held RiverNorth Managed Duration Municipal Income Fund II (RMMZ) as of Q3 2025, down from 22 in Q2 2025.
- Funds reported $18.9M of RiverNorth Managed Duration Municipal Income Fund II stock for Q3 2025, up 19% quarter-over-quarter.
- 2 funds opened new RiverNorth Managed Duration Municipal Income Fund II positions in Q3 2025 and 3 closed out, a net change of -1 holder.
- The largest RiverNorth Managed Duration Municipal Income Fund II buyer in Q3 2025 was Gateway Wealth Partners, an estimated $1.76M added.
- The largest RiverNorth Managed Duration Municipal Income Fund II seller in Q3 2025 was Karpus Investment Management, an estimated $1.04M sold.
Based on aggregated 13F filings for Q3 2025.