Noble Wealth Management PBC Purchases New Stake in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)

Noble Wealth Management PBC acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,500 shares of the company’s stock, valued at approximately $94,000.

Several other hedge funds also recently added to or reduced their stakes in RMM. CreativeOne Wealth LLC lifted its position in shares of Rivernorth Managed Duration Municipal Income Fund by 13.0% during the third quarter. CreativeOne Wealth LLC now owns 11,968 shares of the company’s stock worth $192,000 after purchasing an additional 1,378 shares during the last quarter. XML Financial LLC lifted its holdings in Rivernorth Managed Duration Municipal Income Fund by 5.8% during the 3rd quarter. XML Financial LLC now owns 25,399 shares of the company’s stock worth $408,000 after buying an additional 1,399 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Rivernorth Managed Duration Municipal Income Fund by 14.5% in 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 in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 3.8% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 98,325 shares of the company’s stock valued at $1,417,000 after acquiring an additional 3,630 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in shares of Rivernorth Managed Duration Municipal Income Fund by 1.0% during the 4th quarter. Stratos Wealth Partners LTD. now owns 432,452 shares of the company’s stock valued at $6,234,000 after acquiring an additional 4,366 shares in the last quarter.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

Shares of RMM opened at $15.15 on Friday. The business’s fifty day moving average price is $14.89 and its 200 day moving average price is $15.38. Rivernorth Managed Duration Municipal Income Fund Inc. has a 12-month low of $14.35 and a 12-month high of $16.37.

Rivernorth Managed Duration Municipal Income Fund Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 16th were given a $0.0905 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a dividend yield of 7.32%.

Rivernorth Managed Duration Municipal Income Fund Company 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.