Oppenheimer & Co. Inc. lowered its position in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSE:RMM – Free Report) by 59.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 43,804 shares of the company’s stock after selling 64,649 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $549,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of RMM. Wedbush Securities Inc. acquired a new position in Rivernorth Managed Duration Municipal Income Fund during the third quarter valued at approximately $699,000. NewEdge Advisors LLC increased its position in shares of Rivernorth Managed Duration Municipal Income Fund by 10.5% in the first quarter. NewEdge Advisors LLC now owns 17,850 shares of the company’s stock worth $243,000 after acquiring an additional 1,700 shares in the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the first quarter worth $1,472,000. Rivernorth Capital Management LLC acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the first quarter worth $182,000. Finally, Gateway Wealth Partners LLC raised its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 174.5% in the 1st 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 period.
Rivernorth Managed Duration Municipal Income Fund Price Performance
Shares of RMM stock opened at $13.28 on Thursday. The company’s fifty day simple moving average is $13.31 and its 200-day simple moving average is $14.09. Rivernorth Managed Duration Municipal Income Fund Inc. has a 52 week low of $12.15 and a 52 week 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 Thursday, December 31st. Investors of record on Tuesday, December 15th will be issued a $0.0847 dividend. This represents a $1.02 annualized dividend and a yield of 7.7%. The ex-dividend date is Tuesday, December 15th.
About Rivernorth Managed Duration Municipal Income Fund
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.
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