Rivernorth Managed Duration Municipal Income Fund (NYSEARCA:RMM) Trading Up 0.2% – What’s Next?

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) shares rose 0.2% during mid-day trading on Tuesday . The stock traded as high as $13.96 and last traded at $13.91. Approximately 86,426 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 82,543 shares. The stock had previously closed at $13.88.

Rivernorth Managed Duration Municipal Income Fund Trading Up 0.2%

The stock’s 50 day simple moving average is $14.04 and its 200 day simple moving average is $13.80.

Rivernorth Managed Duration Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a dividend of $0.0905 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 7.8%.

Institutional Trading of Rivernorth Managed Duration Municipal Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC increased its position in Rivernorth Managed Duration Municipal Income Fund by 7.4% in the second quarter. NewEdge Advisors LLC now owns 16,750 shares of the company’s stock worth $225,000 after buying an additional 1,150 shares during the period. XML Financial LLC boosted its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 3.6% during the third quarter. XML Financial LLC now owns 34,099 shares of the company’s stock valued at $482,000 after acquiring an additional 1,200 shares during the period. Bank of America Corp DE grew its position in shares of Rivernorth Managed Duration Municipal Income Fund by 6.5% during the second quarter. Bank of America Corp DE now owns 21,076 shares of the company’s stock worth $283,000 after acquiring an additional 1,284 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 13.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 17,304 shares of the company’s stock worth $232,000 after acquiring an additional 2,000 shares during the period. Finally, U.S. Capital Wealth Advisors LLC increased its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 2.1% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 166,643 shares of the company’s stock worth $2,356,000 after acquiring an additional 3,500 shares during the period.

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.