Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) Plans Monthly Dividend of $0.08

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Friday, January 2nd. Investors of record on Thursday, January 15th will be given a dividend of 0.0847 per share on Friday, January 30th. This represents a c) annualized dividend and a yield of 7.3%. The ex-dividend date is Thursday, January 15th.

Rivernorth Managed Duration Municipal Income Fund Price Performance

RMM traded up $0.01 during trading on Tuesday, reaching $14.01. The company’s stock had a trading volume of 4,480 shares, compared to its average volume of 72,961. The company’s fifty day moving average price is $13.88 and its 200-day moving average price is $13.84. Rivernorth Managed Duration Municipal Income Fund has a 52-week low of $12.55 and a 52-week high of $15.23.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. U.S. Capital Wealth Advisors LLC lifted its holdings in Rivernorth Managed Duration Municipal Income Fund by 67.7% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 163,143 shares of the company’s stock valued at $2,188,000 after acquiring an additional 65,888 shares during the period. Samalin Investment Counsel LLC purchased a new position in shares of Rivernorth Managed Duration Municipal Income Fund in the 3rd quarter valued at about $831,000. Wagner Wealth Management LLC lifted its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 222.2% in the third quarter. Wagner Wealth Management LLC now owns 71,638 shares of the company’s stock valued at $1,013,000 after purchasing an additional 49,403 shares during the period. Wedbush Securities Inc. boosted its holdings in Rivernorth Managed Duration Municipal Income Fund by 167.1% during the second quarter. Wedbush Securities Inc. now owns 57,185 shares of the company’s stock worth $767,000 after buying an additional 35,773 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in Rivernorth Managed Duration Municipal Income Fund by 10.7% during the first quarter. Royal Bank of Canada now owns 268,226 shares of the company’s stock worth $3,841,000 after buying an additional 25,822 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.