Stratos Wealth Partners LTD. Decreases Stake in Rivernorth Managed Duration Municipal Income Fund Inc. $RMM

Stratos Wealth Partners LTD. cut its holdings in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 11.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 387,816 shares of the company’s stock after selling 51,627 shares during the period. Stratos Wealth Partners LTD.’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $5,201,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RMM. Royal Bank of Canada grew its stake in Rivernorth Managed Duration Municipal Income Fund by 10.7% during the 1st quarter. Royal Bank of Canada now owns 268,226 shares of the company’s stock valued at $3,841,000 after purchasing an additional 25,822 shares in the last quarter. ProVise Management Group LLC boosted its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 0.8% during the 1st quarter. ProVise Management Group LLC now owns 165,000 shares of the company’s stock valued at $2,363,000 after buying an additional 1,250 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its position in shares of Rivernorth Managed Duration Municipal Income Fund by 67.7% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 163,143 shares of the company’s stock worth $2,188,000 after buying an additional 65,888 shares in the last quarter. World Investment Advisors increased its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 316.6% in the first quarter. World Investment Advisors now owns 120,800 shares of the company’s stock worth $1,730,000 after buying an additional 91,800 shares during the last quarter. Finally, Apollon Wealth Management LLC increased its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 39.5% in the first quarter. Apollon Wealth Management LLC now owns 38,945 shares of the company’s stock worth $558,000 after buying an additional 11,034 shares during the last quarter.

Rivernorth Managed Duration Municipal Income Fund Price Performance

Shares of RMM stock opened at $14.02 on Friday. The firm has a fifty day moving average of $13.84 and a two-hundred day moving average of $13.70. Rivernorth Managed Duration Municipal Income Fund Inc. has a 1-year low of $12.55 and a 1-year high of $16.29.

Rivernorth Managed Duration Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a dividend of $0.0905 per share. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend is Monday, December 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.