Advisors Asset Management Inc. Boosts Stock Holdings in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)

Advisors Asset Management Inc. raised its holdings in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 65.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,914 shares of the company’s stock after acquiring an additional 45,002 shares during the quarter. Advisors Asset Management Inc.’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $1,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in RMM. Truist Financial Corp lifted its stake in Rivernorth Managed Duration Municipal Income Fund by 20.7% in the 2nd quarter. Truist Financial Corp now owns 28,500 shares of the company’s stock worth $435,000 after purchasing an additional 4,886 shares in the last quarter. ProVise Management Group LLC increased its stake in Rivernorth Managed Duration Municipal Income Fund by 13.6% in the 2nd quarter. ProVise Management Group LLC now owns 159,630 shares of the company’s stock worth $2,436,000 after acquiring an additional 19,149 shares during the last quarter. CreativeOne Wealth LLC boosted its position in shares of Rivernorth Managed Duration Municipal Income Fund by 8.0% during the 1st quarter. CreativeOne Wealth LLC now owns 11,097 shares of the company’s stock valued at $166,000 after acquiring an additional 824 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Rivernorth Managed Duration Municipal Income Fund by 0.7% in the third quarter. Stratos Wealth Partners LTD. now owns 428,086 shares of the company’s stock worth $6,879,000 after purchasing an additional 3,060 shares during the last quarter. Finally, XML Financial LLC lifted its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 8.6% during the 1st quarter. XML Financial LLC now owns 22,000 shares of the company’s stock worth $329,000 after acquiring an additional 1,750 shares during the last quarter.

Rivernorth Managed Duration Municipal Income Fund Trading Up 1.6 %

RMM opened at $15.49 on Monday. The stock has a 50-day moving average price of $15.72 and a 200-day moving average price of $15.41. Rivernorth Managed Duration Municipal Income Fund Inc. has a 12-month low of $13.97 and a 12-month high of $16.37.

Rivernorth Managed Duration Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.0916 per share. This represents a $1.10 dividend on an annualized basis and a yield of 7.10%. The ex-dividend date of this dividend is Friday, December 13th.

Rivernorth Managed Duration Municipal Income Fund Profile

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.