Stratos Wealth Partners LTD. Reduces Holdings in Rivernorth Managed Duration Municipal Income Fund Inc. $RMM

Stratos Wealth Partners LTD. lessened its holdings in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 93.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,188 shares of the company’s stock after selling 363,628 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $342,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of RMM. Osaic Holdings Inc. lifted its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 79.5% during the 2nd quarter. Osaic Holdings Inc. now owns 12,867 shares of the company’s stock valued at $173,000 after buying an additional 5,700 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Rivernorth Managed Duration Municipal Income Fund during the 2nd quarter valued at $217,000. NewEdge Advisors LLC lifted its position in shares of Rivernorth Managed Duration Municipal Income Fund by 7.4% during the second quarter. NewEdge Advisors LLC now owns 16,750 shares of the company’s stock worth $225,000 after acquiring an additional 1,150 shares in the last quarter. Bank of America Corp DE lifted 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 in the last quarter. Finally, Wolverine Asset Management LLC boosted its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 52.9% in the second quarter. Wolverine Asset Management LLC now owns 30,549 shares of the company’s stock worth $410,000 after acquiring an additional 10,572 shares during the period.

Rivernorth Managed Duration Municipal Income Fund Trading Down 0.3%

NYSEARCA:RMM opened at $14.27 on Friday. The business’s fifty day moving average is $14.00 and its 200 day moving average is $13.94. Rivernorth Managed Duration Municipal Income Fund Inc. has a 52-week low of $12.55 and a 52-week high of $15.23.

Rivernorth Managed Duration Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $0.0847 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Monday, March 16th.

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.