UBS Group AG Cuts Holdings in Rivernorth Managed Duration Municipal Income Fund Inc. $RMM

UBS Group AG decreased its position in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 23.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,932 shares of the company’s stock after selling 48,979 shares during the period. UBS Group AG’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $2,177,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in shares of Rivernorth Managed Duration Municipal Income Fund during the third quarter valued at about $62,000. EverSource Wealth Advisors LLC purchased a new position in shares of Rivernorth Managed Duration Municipal Income Fund during the third quarter valued at about $71,000. Osaic Holdings Inc. grew its position in shares of Rivernorth Managed Duration Municipal Income Fund by 79.5% during the second quarter. Osaic Holdings Inc. now owns 12,867 shares of the company’s stock valued at $173,000 after purchasing an additional 5,700 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Rivernorth Managed Duration Municipal Income Fund in the 2nd quarter valued at about $217,000. Finally, NewEdge Advisors LLC lifted 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 valued at $225,000 after acquiring an additional 1,150 shares during the last quarter.

Rivernorth Managed Duration Municipal Income Fund Stock Up 0.9%

Shares of NYSEARCA:RMM opened at $14.50 on Thursday. Rivernorth Managed Duration Municipal Income Fund Inc. has a 12 month low of $13.28 and a 12 month high of $14.88. The company has a 50-day moving average price of $14.13 and a 200 day moving average price of $14.09.

Rivernorth Managed Duration Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.0847 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%.

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.