Belpointe Asset Management LLC purchased a new position in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,150 shares of the company’s stock, valued at approximately $89,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in RMM. Wolverine Asset Management LLC acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund during the 4th quarter worth approximately $49,000. Rockefeller Capital Management L.P. increased its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 40.3% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 7,010 shares of the company’s stock worth $102,000 after buying an additional 2,012 shares during the last quarter. Melfa Wealth Management LLC acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund during the 4th quarter worth approximately $156,000. B. Riley Wealth Advisors Inc. acquired a new stake in Rivernorth Managed Duration Municipal Income Fund in the 3rd quarter valued at approximately $157,000. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Rivernorth Managed Duration Municipal Income Fund by 8.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 13,686 shares of the company’s stock valued at $200,000 after purchasing an additional 1,008 shares during the last quarter.
Rivernorth Managed Duration Municipal Income Fund Trading Up 0.1 %
Rivernorth Managed Duration Municipal Income Fund stock opened at $15.11 on Friday. Rivernorth Managed Duration Municipal Income Fund Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $17.32. The firm has a 50 day moving average price of $15.30 and a 200 day moving average price of $15.23.
Rivernorth Managed Duration Municipal Income Fund Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a $0.0911 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.09 annualized dividend and a yield of 7.23%.
Rivernorth Managed Duration Municipal Income Fund Company Profile
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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.
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