Oppenheimer & Co. Inc. Has $354,000 Holdings in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)

Oppenheimer & Co. Inc. trimmed its position in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 6.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,000 shares of the company’s stock after selling 1,600 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the 1st quarter valued at $150,000. Truist Financial Corp raised its holdings in Rivernorth Managed Duration Municipal Income Fund by 20.7% during the 2nd quarter. Truist Financial Corp now owns 28,500 shares of the company’s stock worth $435,000 after buying an additional 4,886 shares during the period. CreativeOne Wealth LLC increased its holdings in Rivernorth Managed Duration Municipal Income Fund by 8.0% during 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. ProVise Management Group LLC raised its position in Rivernorth Managed Duration Municipal Income Fund by 13.6% in the 2nd 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 last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in shares of 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 in the last quarter.

Rivernorth Managed Duration Municipal Income Fund Stock Down 0.6 %

NYSEARCA:RMM opened at $15.25 on Friday. The stock’s 50-day simple moving average is $15.73 and its 200 day simple moving average is $15.39. Rivernorth Managed Duration Municipal Income Fund Inc. has a 52-week low of $13.97 and a 52-week high of $16.37.

Rivernorth Managed Duration Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.0916 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.10 annualized dividend and a dividend yield of 7.21%.

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.