ProVise Management Group LLC Lowers Stake in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)

ProVise Management Group LLC lessened its position in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 163,750 shares of the company’s stock after selling 2,970 shares during the period. ProVise Management Group LLC’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $2,360,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Noble Wealth Management PBC purchased a new stake in Rivernorth Managed Duration Municipal Income Fund during the fourth quarter valued at about $94,000. Wolverine Asset Management LLC acquired a new position in shares of Rivernorth Managed Duration Municipal Income Fund during the fourth quarter worth about $122,000. CreativeOne Wealth LLC lifted its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 13.0% during the third quarter. CreativeOne Wealth LLC now owns 11,968 shares of the company’s stock worth $192,000 after purchasing an additional 1,378 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 14.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 25,200 shares of the company’s stock worth $363,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Apollon Wealth Management LLC acquired a new position in shares of Rivernorth Managed Duration Municipal Income Fund during the fourth quarter worth about $402,000.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

Shares of RMM opened at $14.33 on Wednesday. The stock’s 50-day moving average is $14.91 and its two-hundred day moving average is $15.31. Rivernorth Managed Duration Municipal Income Fund Inc. has a 12 month low of $14.30 and a 12 month high of $16.37.

Rivernorth Managed Duration Municipal Income Fund Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were paid a dividend of $0.0905 per share. This represents a dividend yield of 7.32%. The ex-dividend date was Wednesday, January 15th.

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.