Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) to Issue Monthly Dividend of $0.08 on January 30th

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Friday, January 2nd. Investors of record on Thursday, January 15th will be paid a dividend of 0.0847 per share on Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 7.2%. The ex-dividend date is Thursday, January 15th.

Rivernorth Managed Duration Municipal Income Fund Stock Up 0.4%

Rivernorth Managed Duration Municipal Income Fund stock traded up $0.06 during trading hours on Tuesday, hitting $14.06. 5,465 shares of the company traded hands, compared to its average volume of 73,215. Rivernorth Managed Duration Municipal Income Fund has a 1-year low of $12.55 and a 1-year high of $15.23. The firm’s 50-day simple moving average is $13.88 and its two-hundred day simple moving average is $13.84.

Institutional Investors Weigh In On Rivernorth Managed Duration Municipal Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in Rivernorth Managed Duration Municipal Income Fund during the 3rd quarter valued at $62,000. Abel Hall LLC bought a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the 3rd quarter worth $283,000. Raymond James Financial Inc. lifted its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 11.9% in the third quarter. Raymond James Financial Inc. now owns 72,555 shares of the company’s stock valued at $1,026,000 after buying an additional 7,718 shares during the period. EverSource Wealth Advisors LLC bought a new position in Rivernorth Managed Duration Municipal Income Fund during the third quarter valued at about $71,000. Finally, Samalin Investment Counsel LLC acquired a new position in Rivernorth Managed Duration Municipal Income Fund during the third quarter worth about $831,000.

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. 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.