Rivernorth Managed Duration Municipal Income Fund Inc. $RMM Shares Bought by Wagner Wealth Management LLC
by Jessica Moore · The Cerbat GemWagner Wealth Management LLC lifted its stake in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM – Free Report) by 53.2% in the fourth quarter, HoldingsChannel reports. The fund owned 109,754 shares of the company’s stock after purchasing an additional 38,116 shares during the quarter. Wagner Wealth Management LLC’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $1,494,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the 3rd quarter worth approximately $62,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the 3rd quarter worth approximately $71,000. Osaic Holdings Inc. lifted its stake in Rivernorth Managed Duration Municipal Income Fund by 79.5% during the second quarter. Osaic Holdings Inc. now owns 12,867 shares of the company’s stock valued at $173,000 after purchasing an additional 5,700 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Rivernorth Managed Duration Municipal Income Fund during the second quarter valued at approximately $217,000. Finally, NewEdge Advisors LLC lifted its stake in 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 valued at $225,000 after purchasing an additional 1,150 shares during the last quarter.
Rivernorth Managed Duration Municipal Income Fund Price Performance
RMM stock opened at $14.05 on Thursday. Rivernorth Managed Duration Municipal Income Fund Inc. has a 12 month low of $13.28 and a 12 month high of $14.88. The firm has a 50 day simple moving average of $14.13 and a 200 day simple moving average of $14.05.
Rivernorth Managed Duration Municipal Income Fund Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.0847 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a yield of 7.2%.
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.
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