Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. cut its holdings in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 4.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,111 shares of the company’s stock after selling 770 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. acquired a new position in shares of Rivernorth Managed Duration Municipal Income Fund in the 1st quarter valued at about $150,000. 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 acquiring an additional 19,149 shares during the period. CreativeOne Wealth LLC boosted its position in Rivernorth Managed Duration Municipal Income Fund by 8.0% in the 1st quarter. CreativeOne Wealth LLC now owns 11,097 shares of the company’s stock worth $166,000 after purchasing an additional 824 shares in the last quarter. XML Financial LLC grew its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 8.6% during the 1st quarter. XML Financial LLC now owns 22,000 shares of the company’s stock worth $329,000 after purchasing an additional 1,750 shares during the period. Finally, U.S. Capital Wealth Advisors LLC increased its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 8.0% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 94,695 shares of the company’s stock valued at $1,445,000 after purchasing an additional 7,040 shares in the last quarter.

Rivernorth Managed Duration Municipal Income Fund Trading Up 0.1 %

RMM opened at $15.97 on Wednesday. The firm has a fifty day moving average price of $15.66 and a 200 day moving average price of $15.21. Rivernorth Managed Duration Municipal Income Fund Inc. has a 1 year low of $12.32 and a 1 year high of $16.37.

Rivernorth Managed Duration Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.0916 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.88%.

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.