Short Interest in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) Expands By 46.4%

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 53,300 shares, an increase of 46.4% from the September 30th total of 36,400 shares. Based on an average daily volume of 110,300 shares, the short-interest ratio is currently 0.5 days. Based on an average daily volume of 110,300 shares, the short-interest ratio is currently 0.5 days.

Rivernorth Managed Duration Municipal Income Fund Stock Up 0.9%

Shares of Rivernorth Managed Duration Municipal Income Fund stock opened at $14.13 on Monday. The stock’s fifty day moving average is $13.91 and its 200-day moving average is $13.75. Rivernorth Managed Duration Municipal Income Fund has a 12-month low of $12.55 and a 12-month high of $16.29.

Rivernorth Managed Duration Municipal Income Fund Announces Dividend

The business also recently announced 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) dividend on an annualized basis and a dividend yield of 7.7%.

Institutional Investors Weigh In On Rivernorth Managed Duration Municipal Income Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. SouthState Corp acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund during the first quarter worth $72,000. PFG Investments LLC purchased a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the 2nd quarter valued at approximately $138,000. Osaic Holdings Inc. lifted its position in shares of Rivernorth Managed Duration Municipal Income Fund by 79.5% in the 2nd quarter. Osaic Holdings Inc. now owns 12,867 shares of the company’s stock valued at $173,000 after acquiring an additional 5,700 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Rivernorth Managed Duration Municipal Income Fund by 7.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,304 shares of the company’s stock valued at $219,000 after acquiring an additional 1,000 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the 2nd quarter valued at approximately $217,000.

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.