World Investment Advisors LLC Makes New $426,000 Investment in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)

World Investment Advisors LLC purchased a new position in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 26,500 shares of the company’s stock, valued at approximately $426,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CreativeOne Wealth LLC increased its stake in Rivernorth Managed Duration Municipal Income Fund by 13.0% in the third quarter. CreativeOne Wealth LLC now owns 11,968 shares of the company’s stock valued at $192,000 after acquiring an additional 1,378 shares during the period. XML Financial LLC increased its stake in Rivernorth Managed Duration Municipal Income Fund by 5.8% in the third quarter. XML Financial LLC now owns 25,399 shares of the company’s stock valued at $408,000 after acquiring an additional 1,399 shares during the period. Truist Financial Corp increased its stake in Rivernorth Managed Duration Municipal Income Fund by 20.7% in the second quarter. Truist Financial Corp now owns 28,500 shares of the company’s stock valued at $435,000 after acquiring an additional 4,886 shares during the period. Advisors Asset Management Inc. increased its stake in Rivernorth Managed Duration Municipal Income Fund by 65.3% in the third quarter. Advisors Asset Management Inc. now owns 113,914 shares of the company’s stock valued at $1,831,000 after acquiring an additional 45,002 shares during the period. Finally, ProVise Management Group LLC increased its stake 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.

Rivernorth Managed Duration Municipal Income Fund Price Performance

NYSEARCA RMM opened at $15.02 on Wednesday. The company’s 50-day simple moving average is $15.62 and its 200 day simple moving average is $15.52. Rivernorth Managed Duration Municipal Income Fund Inc. has a twelve month low of $13.97 and a twelve month 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. Investors of record on Friday, December 13th will be paid a $0.0916 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.10 dividend on an annualized basis and a yield of 7.32%.

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.