Rivernorth Managed Duration Municipal Income Fund (NYSE:RMM) Shares Cross Above Fifty Day Moving Average – Should You Sell?

Shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSE:RMM) crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $13.28 and traded as high as $13.44. Rivernorth Managed Duration Municipal Income Fund shares last traded at $13.37, with a volume of 28,739 shares traded.

Rivernorth Managed Duration Municipal Income Fund Stock Up 1.8%

The firm has a 50 day simple moving average of $13.28 and a 200-day simple moving average of $14.08.

Rivernorth Managed Duration Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be issued a $0.0847 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date is Tuesday, December 15th.

Institutional Trading of Rivernorth Managed Duration Municipal Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC raised its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 0.7% during the 3rd quarter. Kestra Advisory Services LLC now owns 166,972 shares of the company’s stock worth $2,094,000 after buying an additional 1,190 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 6.1% in the first quarter. Janney Montgomery Scott LLC now owns 26,100 shares of the company’s stock worth $356,000 after purchasing an additional 1,500 shares during the last quarter. NewEdge Advisors LLC boosted its position in Rivernorth Managed Duration Municipal Income Fund by 10.5% during the 1st quarter. NewEdge Advisors LLC now owns 17,850 shares of the company’s stock valued at $243,000 after buying an additional 1,700 shares during the period. ProVise Management Group LLC grew its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 1.2% during the 3rd quarter. ProVise Management Group LLC now owns 172,504 shares of the company’s stock valued at $2,163,000 after acquiring an additional 1,979 shares during the period. Finally, Fifth Third Bancorp bought a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the 1st quarter valued at about $82,000.

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. 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.