Wolverine Asset Management LLC Buys New Holdings in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)

Wolverine Asset Management LLC bought a new stake in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,433 shares of the company’s stock, valued at approximately $122,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp increased its position in Rivernorth Managed Duration Municipal Income Fund by 24.7% in the 4th quarter. Truist Financial Corp now owns 45,939 shares of the company’s stock valued at $662,000 after buying an additional 9,111 shares in the last quarter. Apollon Wealth Management LLC bought a new stake in Rivernorth Managed Duration Municipal Income Fund during the 4th quarter worth approximately $402,000. Stratos Wealth Partners LTD. increased its holdings in 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 worth $6,234,000 after purchasing an additional 4,366 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its holdings in Rivernorth Managed Duration Municipal Income Fund by 3.8% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 98,325 shares of the company’s stock worth $1,417,000 after purchasing an additional 3,630 shares in the last quarter. Finally, World Investment Advisors LLC bought a new stake in Rivernorth Managed Duration Municipal Income Fund during the 3rd quarter worth approximately $426,000.

Rivernorth Managed Duration Municipal Income Fund Price Performance

Shares of RMM opened at $15.08 on Tuesday. The stock has a 50 day moving average price of $14.86 and a two-hundred day moving average price of $15.38. Rivernorth Managed Duration Municipal Income Fund Inc. has a 52 week low of $14.35 and a 52 week high of $16.37.

Rivernorth Managed Duration Municipal Income Fund Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were issued a dividend of $0.0905 per share. This represents a yield of 7.32%. The ex-dividend date of this dividend was Wednesday, January 15th.

About Rivernorth Managed Duration Municipal Income Fund

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.