World Investment Advisors LLC Acquires New Position in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)

World Investment Advisors LLC acquired a new stake in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 26,500 shares of the company’s stock, valued at approximately $426,000.

Several other large investors have also bought and sold shares of RMM. ProVise Management Group LLC lifted its holdings in Rivernorth Managed Duration Municipal Income Fund by 13.6% in the second quarter. ProVise Management Group LLC now owns 159,630 shares of the company’s stock valued at $2,436,000 after buying an additional 19,149 shares during the period. Truist Financial Corp raised its holdings in Rivernorth Managed Duration Municipal Income Fund by 20.7% in the second quarter. Truist Financial Corp now owns 28,500 shares of the company’s stock worth $435,000 after purchasing an additional 4,886 shares during the period. Stratos Wealth Partners LTD. raised its holdings in 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 period. XML Financial LLC raised its holdings in Rivernorth Managed Duration Municipal Income Fund by 5.8% in the third quarter. XML Financial LLC now owns 25,399 shares of the company’s stock worth $408,000 after purchasing an additional 1,399 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Rivernorth Managed Duration Municipal Income Fund by 65.3% in the third quarter. Advisors Asset Management Inc. now owns 113,914 shares of the company’s stock worth $1,831,000 after purchasing an additional 45,002 shares during the period.

Rivernorth Managed Duration Municipal Income Fund Trading Down 1.7 %

RMM opened at $15.02 on Wednesday. The firm’s fifty day moving average is $15.62 and its two-hundred day moving average is $15.52. Rivernorth Managed Duration Municipal Income Fund Inc. has a twelve month low of $13.97 and a twelve month high of $16.37.

Rivernorth Managed Duration Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.0916 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.10 annualized dividend and a yield of 7.32%.

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.