Janney Montgomery Scott LLC Sells 1,819 Shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)

Janney Montgomery Scott LLC lowered its position in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMMGet Rating) by 4.0% in the third quarter, HoldingsChannel reports. The fund owned 43,193 shares of the company’s stock after selling 1,819 shares during the period. Janney Montgomery Scott LLC’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $631,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its position in shares of Rivernorth Managed Duration Municipal Income Fund by 8.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 13,686 shares of the company’s stock worth $200,000 after acquiring an additional 1,008 shares during the last quarter. Mutual Advisors LLC raised its position in shares of Rivernorth Managed Duration Municipal Income Fund by 12.2% during the second quarter. Mutual Advisors LLC now owns 13,840 shares of the company’s stock worth $219,000 after acquiring an additional 1,500 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Rivernorth Managed Duration Municipal Income Fund by 20.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 8,885 shares of the company’s stock valued at $140,000 after purchasing an additional 1,514 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in Rivernorth Managed Duration Municipal Income Fund by 4.7% in the third quarter. Stratos Wealth Partners LTD. now owns 121,343 shares of the company’s stock valued at $1,774,000 after purchasing an additional 5,440 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its holdings in Rivernorth Managed Duration Municipal Income Fund by 36.8% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 22,825 shares of the company’s stock valued at $361,000 after purchasing an additional 6,145 shares during the last quarter.

Insider Activity at Rivernorth Managed Duration Municipal Income Fund

In related news, President Patrick W. Galley sold 3,000 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $13.62, for a total value of $40,860.00. Following the completion of the sale, the president now owns 7,000 shares in the company, valued at $95,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Patrick W. Galley sold 3,000 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $13.62, for a total value of $40,860.00. Following the completion of the sale, the president now owns 7,000 shares in the company, valued at $95,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Patrick W. Galley sold 2,000 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $13.91, for a total value of $27,820.00. Following the completion of the transaction, the president now directly owns 5,000 shares of the company’s stock, valued at $69,550. The disclosure for this sale can be found here.

Rivernorth Managed Duration Municipal Income Fund Trading Up 0.4 %

NYSEARCA RMM opened at $15.67 on Friday. The stock has a 50-day simple moving average of $15.04 and a 200 day simple moving average of $15.30. Rivernorth Managed Duration Municipal Income Fund Inc. has a 12 month low of $13.43 and a 12 month high of $18.73.

Rivernorth Managed Duration Municipal Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be issued a $0.0911 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date of this dividend is Tuesday, March 14th. This is an increase from Rivernorth Managed Duration Municipal Income Fund’s previous monthly dividend of $0.09.

About Rivernorth Managed Duration Municipal Income Fund

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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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Institutional Ownership by Quarter for Rivernorth Managed Duration Municipal Income Fund (NYSEARCA:RMM)

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