Wolverine Asset Management LLC Invests $122,000 in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)

Wolverine Asset Management LLC bought a new position in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) during the fourth quarter, Holdings Channel.com reports. The firm bought 8,433 shares of the company’s stock, valued at approximately $122,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CreativeOne Wealth LLC boosted its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 13.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 11,968 shares of the company’s stock worth $192,000 after buying an additional 1,378 shares during the last quarter. XML Financial LLC boosted its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 5.8% in the 3rd quarter. XML Financial LLC now owns 25,399 shares of the company’s stock worth $408,000 after buying an additional 1,399 shares during the last quarter. World Investment Advisors LLC purchased a new position in Rivernorth Managed Duration Municipal Income Fund in the third quarter valued at approximately $426,000. Apollon Wealth Management LLC purchased a new position in Rivernorth Managed Duration Municipal Income Fund in the fourth quarter valued at approximately $402,000. Finally, Truist Financial Corp lifted its stake in Rivernorth Managed Duration Municipal Income Fund by 24.7% in the fourth quarter. Truist Financial Corp now owns 45,939 shares of the company’s stock valued at $662,000 after purchasing an additional 9,111 shares during the last quarter.

Rivernorth Managed Duration Municipal Income Fund Trading Down 0.5 %

Rivernorth Managed Duration Municipal Income Fund stock opened at $15.08 on Tuesday. Rivernorth Managed Duration Municipal Income Fund Inc. has a 12 month low of $14.35 and a 12 month high of $16.37. The business’s 50 day simple moving average is $14.86 and its 200 day simple moving average is $15.38.

Rivernorth Managed Duration Municipal Income Fund Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 16th were paid a $0.0905 dividend. The ex-dividend date was Wednesday, January 15th. This represents a yield of 7.32%.

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.