Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) Portfolio Manager Acquires $10,432.00 in Stock

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) Portfolio Manager Jonathan Paul Browne acquired 800 shares of the business’s stock in a transaction dated Thursday, April 10th. The shares were bought at an average price of $13.04 per share, with a total value of $10,432.00. Following the transaction, the portfolio manager now directly owns 800 shares in the company, valued at approximately $10,432. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Rivernorth Managed Duration Municipal Income Fund Stock Down 0.5 %

Shares of Rivernorth Managed Duration Municipal Income Fund stock opened at $13.08 on Monday. Rivernorth Managed Duration Municipal Income Fund Inc. has a 12-month low of $12.55 and a 12-month high of $16.37. The stock’s fifty day moving average is $14.53 and its 200-day moving average is $15.05.

Rivernorth Managed Duration Municipal Income Fund Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Truist Financial Corp grew its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 24.7% during the fourth quarter. Truist Financial Corp now owns 45,939 shares of the company’s stock valued at $662,000 after buying an additional 9,111 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Rivernorth Managed Duration Municipal Income Fund by 14.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 25,200 shares of the company’s stock valued at $363,000 after acquiring an additional 3,200 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Rivernorth Managed Duration Municipal Income Fund in the 4th quarter valued at about $402,000. Raymond James Financial Inc. purchased a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the fourth quarter worth approximately $900,000. Finally, Independent Advisor Alliance acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund during the fourth quarter worth approximately $427,000.

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.