Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) Position Raised by Truist Financial Corp

Truist Financial Corp increased its position in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMMGet Rating) by 18.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,887 shares of the company’s stock after purchasing an additional 6,948 shares during the period. Truist Financial Corp’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $656,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS Group AG grew its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 3.7% during the 2nd quarter. UBS Group AG now owns 365,778 shares of the company’s stock valued at $5,779,000 after acquiring an additional 13,141 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 4.7% in the 3rd 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. Moors & Cabot Inc. lifted its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 50.4% in the 2nd quarter. Moors & Cabot Inc. now owns 82,100 shares of the company’s stock valued at $1,297,000 after purchasing an additional 27,500 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 7.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 45,012 shares of the company’s stock valued at $689,000 after purchasing an additional 3,117 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Rivernorth Managed Duration Municipal Income Fund by 511.9% during the 1st quarter. Bank of America Corp DE now owns 29,645 shares of the company’s stock worth $510,000 after acquiring an additional 24,800 shares during the last quarter.

Rivernorth Managed Duration Municipal Income Fund Price Performance

Rivernorth Managed Duration Municipal Income Fund stock opened at $15.67 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 $18.73. The firm has a fifty day moving average price of $15.04 and a two-hundred day moving average price of $15.29.

Rivernorth Managed Duration Municipal Income Fund Increases Dividend

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

Insider Activity

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

Rivernorth Managed Duration Municipal Income Fund 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.

See Also

Want to see what other hedge funds are holding RMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMMGet Rating).

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

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