Rivernorth Managed Duration Municipal Income Fund (NYSEARCA:RMM) Stock Price Down 0.2% – Time to Sell?

Shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) fell 0.2% during trading on Monday . The stock traded as low as $13.52 and last traded at $13.58. 95,302 shares changed hands during mid-day trading, an increase of 56% from the average session volume of 61,138 shares. The stock had previously closed at $13.61.

Rivernorth Managed Duration Municipal Income Fund Stock Down 0.2%

The company has a fifty day moving average of $14.17 and a 200 day moving average of $14.03.

Rivernorth Managed Duration Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.0847 dividend. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a yield of 7.5%.

Hedge Funds Weigh In On Rivernorth Managed Duration Municipal Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of RMM. Advocate Investing Services LLC bought a new position in shares of Rivernorth Managed Duration Municipal Income Fund during the 4th quarter worth approximately $34,000. Advisory Services Network LLC bought a new position in shares of Rivernorth Managed Duration Municipal Income Fund during the 3rd quarter worth approximately $62,000. Kestra Advisory Services LLC bought a new position in shares of Rivernorth Managed Duration Municipal Income Fund during the 4th quarter worth approximately $67,000. EverSource Wealth Advisors LLC bought a new position in shares of Rivernorth Managed Duration Municipal Income Fund during the 3rd quarter worth approximately $71,000. Finally, Closed End Fund Advisors Inc. bought a new position in shares of Rivernorth Managed Duration Municipal Income Fund during the 4th quarter worth approximately $162,000.

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. It seeks to invest in securities of any maturity. The fund employs a combination of fundamental and quantitative analysis. It benchmarks the performance of its portfolio against the Bloomberg Barclays Municipal Bond Index.