Gateway Wealth Partners LLC Acquires 73,345 Shares of Rivernorth Managed Duration Municipal Income Fund Inc. $RMM

Gateway Wealth Partners LLC boosted its holdings in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 174.5% during the first quarter, Holdings Channel.com reports. The firm owned 115,380 shares of the company’s stock after acquiring an additional 73,345 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $1,573,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wagner Wealth Management LLC boosted its position in shares of Rivernorth Managed Duration Municipal Income Fund by 53.2% in 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. grew its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 98.2% in the 4th 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. purchased a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the 4th quarter worth approximately $658,000. Kestra Advisory Services LLC bought a new position in Rivernorth Managed Duration Municipal Income Fund during the 4th quarter valued at approximately $67,000. Finally, Advisors Asset Management Inc. increased its position in Rivernorth Managed Duration Municipal Income Fund by 118.3% during the 4th quarter. Advisors Asset Management Inc. now owns 228,430 shares of the company’s stock valued at $3,109,000 after buying an additional 123,771 shares in the last quarter.

Rivernorth Managed Duration Municipal Income Fund Trading Down 0.5%

Shares of NYSEARCA:RMM opened at $14.38 on Wednesday. The stock has a fifty day simple moving average of $14.59 and a two-hundred day simple moving average of $14.33. Rivernorth Managed Duration Municipal Income Fund Inc. has a 12-month low of $13.35 and a 12-month high of $15.00.

Rivernorth Managed Duration Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.0847 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 7.1%.

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.