Wedbush Securities Inc. Buys 3,503 Shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)

Wedbush Securities Inc. grew its stake in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 22.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,259 shares of the company’s stock after acquiring an additional 3,503 shares during the quarter. Wedbush Securities Inc.’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RMM. Noble Wealth Management PBC acquired a new position in Rivernorth Managed Duration Municipal Income Fund during the 4th quarter worth approximately $94,000. Wolverine Asset Management LLC acquired a new position in Rivernorth Managed Duration Municipal Income Fund during the 4th quarter worth approximately $122,000. Landscape Capital Management L.L.C. acquired a new position in Rivernorth Managed Duration Municipal Income Fund during the 4th quarter worth approximately $152,000. Oppenheimer & Co. Inc. boosted its position in Rivernorth Managed Duration Municipal Income Fund by 14.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 25,200 shares of the company’s stock worth $363,000 after acquiring an additional 3,200 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in Rivernorth Managed Duration Municipal Income Fund during the 3rd quarter worth approximately $426,000.

Rivernorth Managed Duration Municipal Income Fund Stock Up 0.9 %

NYSEARCA:RMM opened at $13.17 on Thursday. Rivernorth Managed Duration Municipal Income Fund Inc. has a twelve month low of $12.55 and a twelve month high of $16.37. The business has a 50 day moving average price of $14.61 and a two-hundred day moving average price of $15.10.

Rivernorth Managed Duration Municipal Income Fund Announces Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Wednesday, April 16th will be issued a $0.0905 dividend. This represents a dividend yield of 8.32%. The ex-dividend date of this dividend is Tuesday, April 15th.

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.