Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) Shares Purchased by Truist Financial Corp

Truist Financial Corp raised its holdings in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 20.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,500 shares of the company’s stock after purchasing an additional 4,886 shares during the quarter. Truist Financial Corp’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $435,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. CreativeOne Wealth LLC lifted its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 8.0% in the first quarter. CreativeOne Wealth LLC now owns 11,097 shares of the company’s stock valued at $166,000 after purchasing an additional 824 shares in the last quarter. XML Financial LLC boosted its stake in 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 valued at $329,000 after acquiring an additional 1,750 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its stake in 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 acquiring an additional 7,040 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Rivernorth Managed Duration Municipal Income Fund in the 1st quarter worth about $150,000. Finally, ProVise Management Group LLC lifted its position in shares of 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 worth $2,436,000 after buying an additional 19,149 shares during the last quarter.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

Rivernorth Managed Duration Municipal Income Fund stock opened at $15.76 on Thursday. Rivernorth Managed Duration Municipal Income Fund Inc. has a 1 year low of $12.32 and a 1 year high of $16.37. The firm’s 50-day moving average is $15.73 and its 200-day moving average is $15.25.

Rivernorth Managed Duration Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Investors 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 dividend on an annualized basis and a dividend yield of 6.97%.

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.