Rivernorth Managed Duration Municipal Income Fund (NYSEARCA:RMM) Trading Down 0.1% – What’s Next?

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) shares fell 0.1% during mid-day trading on Tuesday . The stock traded as low as $13.64 and last traded at $13.67. 136,954 shares changed hands during mid-day trading, an increase of 62% from the average session volume of 84,703 shares. The stock had previously closed at $13.68.

Rivernorth Managed Duration Municipal Income Fund Trading Down 0.3%

The firm’s 50-day moving average price is $13.95 and its 200 day moving average price is $13.81.

Rivernorth Managed Duration Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a dividend of $0.0905 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend is Monday, December 15th.

Institutional Investors Weigh In On Rivernorth Managed Duration Municipal Income Fund

A number of large investors have recently added to or reduced their stakes in RMM. NewEdge Advisors LLC lifted its stake in Rivernorth Managed Duration Municipal Income Fund by 7.4% during the second quarter. NewEdge Advisors LLC now owns 16,750 shares of the company’s stock worth $225,000 after purchasing an additional 1,150 shares during the last quarter. XML Financial LLC raised its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 3.6% during the 3rd quarter. XML Financial LLC now owns 34,099 shares of the company’s stock valued at $482,000 after buying an additional 1,200 shares in the last quarter. Bank of America Corp DE lifted its position in Rivernorth Managed Duration Municipal Income Fund by 6.5% in the 2nd quarter. Bank of America Corp DE now owns 21,076 shares of the company’s stock worth $283,000 after buying an additional 1,284 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Rivernorth Managed Duration Municipal Income Fund by 13.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 17,304 shares of the company’s stock worth $232,000 after buying an additional 2,000 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in Rivernorth Managed Duration Municipal Income Fund by 2.1% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 166,643 shares of the company’s stock worth $2,356,000 after buying an additional 3,500 shares in the last quarter.

About Rivernorth Managed Duration Municipal Income Fund

Rivernorth Managed Duration Municipal Income Fund Inc is a closed ended fixed income mutual fund launched and managed by RiverNorth Capital Management, LLC. The fund is co-managed by MacKay Shields LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal debt securities. It seeks to invest in securities of any maturity. The fund employs a combination of fundamental and quantitative analysis. It benchmarks the performance of its portfolio against the Bloomberg Barclays Municipal Bond Index.