Nwam LLC Makes New Investment in RiverNorth Managed Duration Municipal Income Fund, Inc. (NYSEARCA:RMM)

Nwam LLC bought a new stake in RiverNorth Managed Duration Municipal Income Fund, Inc. (NYSEARCA:RMM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 27,100 shares of the company’s stock, valued at approximately $524,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of RiverNorth Managed Duration Municipal Income Fund in the 3rd quarter worth approximately $716,000. Stifel Financial Corp acquired a new stake in RiverNorth Managed Duration Municipal Income Fund in the 3rd quarter valued at about $586,000. Finally, Wedbush Securities Inc. lifted its holdings in RiverNorth Managed Duration Municipal Income Fund by 99.2% in the 4th quarter. Wedbush Securities Inc. now owns 26,896 shares of the company’s stock valued at $520,000 after acquiring an additional 13,396 shares during the last quarter.

Shares of NYSEARCA:RMM traded up $0.23 during trading hours on Friday, hitting $20.43. 112,506 shares of the company’s stock traded hands, compared to its average volume of 76,967. The company’s fifty day simple moving average is $19.68. RiverNorth Managed Duration Municipal Income Fund, Inc. has a 52 week low of $19.22 and a 52 week high of $20.80.

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.0917 dividend. The ex-dividend date is Monday, March 16th. This represents a $1.10 dividend on an annualized basis and a yield of 5.39%.

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