Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) President Buys $52,560.00 in Stock

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) President Patrick W. Galley purchased 4,000 shares of Rivernorth Managed Duration Municipal Income Fund stock in a transaction dated Wednesday, April 9th. The shares were bought at an average cost of $13.14 per share, for a total transaction of $52,560.00. Following the transaction, the president now directly owns 15,000 shares of the company’s stock, valued at approximately $197,100. The trade was a 36.36 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Rivernorth Managed Duration Municipal Income Fund Price Performance

Shares of Rivernorth Managed Duration Municipal Income Fund stock opened at $13.08 on Friday. The business has a 50-day moving average price of $14.53 and a 200 day moving average price of $15.06. 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.

Rivernorth Managed Duration Municipal Income Fund Dividend Announcement

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

Hedge Funds Weigh In On Rivernorth Managed Duration Municipal Income Fund

Large investors have recently added to or reduced their stakes in the company. Noble Wealth Management PBC acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund during the fourth quarter worth $94,000. Wolverine Asset Management LLC bought a new stake in shares of Rivernorth Managed Duration Municipal Income Fund during the 4th quarter valued at about $122,000. Landscape Capital Management L.L.C. acquired a new stake in Rivernorth Managed Duration Municipal Income Fund during the fourth quarter worth about $152,000. Wedbush Securities Inc. lifted its holdings in Rivernorth Managed Duration Municipal Income Fund by 22.2% in the fourth quarter. Wedbush Securities Inc. now owns 19,259 shares of the company’s stock worth $278,000 after acquiring an additional 3,503 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in Rivernorth Managed Duration Municipal Income Fund in the fourth quarter valued at approximately $280,000.

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.