Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) To Go Ex-Dividend on April 15th

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Wednesday, April 1st. Investors of record on Wednesday, April 15th will be given a dividend of 0.0847 per share on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Wednesday, April 15th.

Rivernorth Managed Duration Municipal Income Fund Trading Down 0.4%

Shares of NYSEARCA:RMM traded down $0.06 during midday trading on Monday, reaching $14.41. The company had a trading volume of 42,329 shares, compared to its average volume of 61,796. Rivernorth Managed Duration Municipal Income Fund has a 1-year low of $13.06 and a 1-year high of $14.88. The company has a fifty day simple moving average of $14.17 and a two-hundred day simple moving average of $14.03.

Hedge Funds Weigh In On Rivernorth Managed Duration Municipal Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of RMM. Royal Bank of Canada boosted its position in shares of Rivernorth Managed Duration Municipal Income Fund by 10.7% in the 1st quarter. Royal Bank of Canada now owns 268,226 shares of the company’s stock valued at $3,841,000 after purchasing an additional 25,822 shares during the period. NewEdge Advisors LLC boosted its position in shares of Rivernorth Managed Duration Municipal Income Fund by 7.4% in the 2nd quarter. NewEdge Advisors LLC now owns 16,750 shares of the company’s stock valued at $225,000 after purchasing an additional 1,150 shares during the period. Bank of America Corp DE boosted its position in shares of Rivernorth Managed Duration Municipal Income Fund by 6.5% in the 2nd quarter. Bank of America Corp DE now owns 21,076 shares of the company’s stock valued at $283,000 after purchasing an additional 1,284 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in shares of Rivernorth Managed Duration Municipal Income Fund in the 2nd quarter valued at $217,000. Finally, Osaic Holdings Inc. boosted 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 purchasing an additional 5,700 shares during the period.

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.