Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) Shares Bought by Wedbush Securities Inc.

Wedbush Securities Inc. grew its holdings in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 22.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,259 shares of the company’s stock after purchasing an additional 3,503 shares during the period. Wedbush Securities Inc.’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $278,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stifel Financial Corp increased its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 37.5% in the 3rd quarter. Stifel Financial Corp now owns 329,524 shares of the company’s stock worth $5,295,000 after acquiring an additional 89,861 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the 4th quarter worth about $900,000. Independent Advisor Alliance acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the 4th quarter worth about $427,000. Apollon Wealth Management LLC acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the 4th quarter worth about $402,000. Finally, World Investment Advisors LLC acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the 3rd quarter worth about $426,000.

Rivernorth Managed Duration Municipal Income Fund Stock Up 0.9 %

RMM stock opened at $13.17 on Thursday. Rivernorth Managed Duration Municipal Income Fund Inc. has a fifty-two week low of $12.55 and a fifty-two week high of $16.37. The firm’s 50-day simple moving average is $14.61 and its 200 day simple moving average is $15.10.

Rivernorth Managed Duration Municipal Income Fund Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, April 30th. Investors of record on Wednesday, April 16th will be given a $0.0905 dividend. The ex-dividend date is Tuesday, April 15th. This represents a yield of 8.32%.

Rivernorth Managed Duration Municipal Income Fund Company 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.