Stratos Wealth Partners LTD. Cuts Position in Rivernorth Managed Duration Municipal Income Fund Inc. $RMM

Stratos Wealth Partners LTD. cut its holdings in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 93.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,188 shares of the company’s stock after selling 363,628 shares during the period. Stratos Wealth Partners LTD.’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $342,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Osaic Holdings Inc. boosted its position in Rivernorth Managed Duration Municipal Income Fund by 79.5% in the second quarter. Osaic Holdings Inc. now owns 12,867 shares of the company’s stock worth $173,000 after purchasing an additional 5,700 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Rivernorth Managed Duration Municipal Income Fund in the 2nd quarter worth about $217,000. NewEdge Advisors LLC boosted its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 7.4% in the 2nd quarter. NewEdge Advisors LLC now owns 16,750 shares of the company’s stock worth $225,000 after buying an additional 1,150 shares during the last quarter. Bank of America Corp DE grew its position in Rivernorth Managed Duration Municipal Income Fund by 6.5% during the second quarter. Bank of America Corp DE now owns 21,076 shares of the company’s stock valued at $283,000 after buying an additional 1,284 shares during the period. Finally, Wolverine Asset Management LLC increased its holdings in Rivernorth Managed Duration Municipal Income Fund by 52.9% during the second quarter. Wolverine Asset Management LLC now owns 30,549 shares of the company’s stock worth $410,000 after buying an additional 10,572 shares during the last quarter.

Rivernorth Managed Duration Municipal Income Fund Stock Down 0.3%

Shares of RMM stock opened at $14.27 on Friday. Rivernorth Managed Duration Municipal Income Fund Inc. has a 52 week low of $12.55 and a 52 week high of $15.23. The firm’s 50-day simple moving average is $14.00 and its two-hundred day simple moving average is $13.94.

Rivernorth Managed Duration Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be issued a $0.0847 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Monday, March 16th.

Rivernorth Managed Duration Municipal Income Fund Profile

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.