ProVise Management Group LLC Reduces Stake in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)

ProVise Management Group LLC lowered its holdings in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 1.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 163,750 shares of the company’s stock after selling 2,970 shares during the quarter. ProVise Management Group LLC’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $2,360,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Stratos Wealth Partners LTD. grew its stake in Rivernorth Managed Duration Municipal Income Fund by 1.0% during the 4th quarter. Stratos Wealth Partners LTD. now owns 432,452 shares of the company’s stock worth $6,234,000 after buying an additional 4,366 shares during the last quarter. Stifel Financial Corp grew its stake in Rivernorth Managed Duration Municipal Income Fund by 37.5% during the 3rd quarter. Stifel Financial Corp now owns 329,524 shares of the company’s stock worth $5,295,000 after buying an additional 89,861 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Rivernorth Managed Duration Municipal Income Fund by 65.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 113,914 shares of the company’s stock worth $1,831,000 after buying an additional 45,002 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 3.8% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 98,325 shares of the company’s stock valued at $1,417,000 after purchasing an additional 3,630 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Rivernorth Managed Duration Municipal Income Fund in the 4th quarter valued at approximately $900,000.

Rivernorth Managed Duration Municipal Income Fund Trading Down 0.4 %

Shares of RMM stock opened at $14.33 on Wednesday. The business’s 50 day moving average is $14.91 and its two-hundred day moving average is $15.31. Rivernorth Managed Duration Municipal Income Fund Inc. has a twelve month low of $14.30 and a twelve month high of $16.37.

Rivernorth Managed Duration Municipal Income Fund Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were paid a $0.0905 dividend. The ex-dividend date was Wednesday, January 15th. This represents a dividend 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.