Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) Holdings Cut by Wells Fargo & Company MN

Wells Fargo & Company MN cut its stake in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 479,116 shares of the company’s stock after selling 28,871 shares during the quarter. Wells Fargo & Company MN’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $6,906,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Landscape Capital Management L.L.C. bought a new stake in shares of Rivernorth Managed Duration Municipal Income Fund during the fourth quarter valued at approximately $152,000. World Investment Advisors increased its position in Rivernorth Managed Duration Municipal Income Fund by 9.4% in the 4th quarter. World Investment Advisors now owns 29,000 shares of the company’s stock valued at $418,000 after acquiring an additional 2,500 shares during the period. Independent Advisor Alliance bought a new stake in Rivernorth Managed Duration Municipal Income Fund during the 4th quarter valued at $427,000. Raymond James Financial Inc. acquired a new position in Rivernorth Managed Duration Municipal Income Fund during the 4th quarter worth $900,000. Finally, Noble Wealth Management PBC bought a new position in shares of Rivernorth Managed Duration Municipal Income Fund in the fourth quarter worth $94,000.

Insider Activity

In related news, President Patrick W. Galley bought 4,000 shares of the business’s stock in a transaction dated Wednesday, April 9th. The shares were bought at an average cost of $13.14 per share, with a total value of $52,560.00. Following the completion of the transaction, the president now directly owns 15,000 shares of the company’s stock, valued at approximately $197,100. This trade represents a 36.36 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Rivernorth Managed Duration Municipal Income Fund Price Performance

Rivernorth Managed Duration Municipal Income Fund stock opened at $13.24 on Friday. Rivernorth Managed Duration Municipal Income Fund Inc. has a 52 week low of $12.55 and a 52 week high of $16.37. The company’s 50-day moving average price is $14.35 and its two-hundred day moving average price is $14.97.

Rivernorth Managed Duration Municipal Income Fund Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Wednesday, April 16th will be issued a $0.0905 dividend. This represents a yield of 8.32%. The ex-dividend date is Tuesday, April 15th.

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.