Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) To Go Ex-Dividend on August 14th

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Wednesday, July 1st. Stockholders of record on Friday, August 14th will be paid a dividend of 0.0847 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, August 14th.

Rivernorth Managed Duration Municipal Income Fund Price Performance

NYSEARCA:RMM opened at $14.87 on Friday. The business’s fifty day moving average price is $14.45 and its 200 day moving average price is $14.20. Rivernorth Managed Duration Municipal Income Fund has a 1-year low of $13.35 and a 1-year high of $14.98.

Institutional Trading of Rivernorth Managed Duration Municipal Income Fund

A number of hedge funds have recently made changes to their positions in the stock. Wagner Wealth Management LLC raised its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 53.2% during the 4th quarter. Wagner Wealth Management LLC now owns 109,754 shares of the company’s stock worth $1,494,000 after purchasing an additional 38,116 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Rivernorth Managed Duration Municipal Income Fund by 98.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 95,605 shares of the company’s stock worth $1,301,000 after buying an additional 47,358 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in Rivernorth Managed Duration Municipal Income Fund during the fourth quarter valued at approximately $658,000. Rivernorth Capital Management LLC bought a new position in Rivernorth Managed Duration Municipal Income Fund during the first quarter valued at approximately $182,000. Finally, Gateway Wealth Partners LLC lifted its stake in Rivernorth Managed Duration Municipal Income Fund by 174.5% in the first quarter. Gateway Wealth Partners LLC now owns 115,380 shares of the company’s stock valued at $1,573,000 after acquiring an additional 73,345 shares during the last quarter.

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.