Wolverine Asset Management LLC Acquires 11,544 Shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)

Wolverine Asset Management LLC grew its holdings in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 136.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,977 shares of the company’s stock after acquiring an additional 11,544 shares during the period. Wolverine Asset Management LLC’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $286,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in Rivernorth Managed Duration Municipal Income Fund by 7.0% in the first quarter. Janney Montgomery Scott LLC now owns 15,304 shares of the company’s stock worth $219,000 after acquiring an additional 1,000 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Rivernorth Managed Duration Municipal Income Fund by 38.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 34,900 shares of the company’s stock valued at $500,000 after purchasing an additional 9,700 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Rivernorth Managed Duration Municipal Income Fund during the 4th quarter valued at $900,000. XML Financial LLC raised its position in shares of Rivernorth Managed Duration Municipal Income Fund by 12.7% during the 1st quarter. XML Financial LLC now owns 28,899 shares of the company’s stock valued at $414,000 after purchasing an additional 3,250 shares during the period. Finally, Stratos Wealth Partners LTD. raised its position in shares of Rivernorth Managed Duration Municipal Income Fund by 1.6% during the 1st quarter. Stratos Wealth Partners LTD. now owns 439,443 shares of the company’s stock valued at $6,293,000 after purchasing an additional 6,991 shares during the period.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

Shares of RMM stock opened at $13.87 on Tuesday. Rivernorth Managed Duration Municipal Income Fund Inc. has a one year low of $12.55 and a one year high of $16.37. The company’s fifty day moving average price is $13.65 and its 200-day moving average price is $14.02.

Rivernorth Managed Duration Municipal Income Fund Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be given a dividend of $0.0905 per share. This represents a dividend yield of 783.0%. The ex-dividend date is Friday, August 15th.

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.