64,649 Rivernorth Managed Duration Municipal Income Fund Inc. $RMM Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its holdings in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSE:RMM) by 59.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,804 shares of the company’s stock after selling 64,649 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $549,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of RMM. Gateway Wealth Partners LLC increased its holdings in Rivernorth Managed Duration Municipal Income Fund by 174.5% during the 1st quarter. Gateway Wealth Partners LLC now owns 115,380 shares of the company’s stock worth $1,573,000 after purchasing an additional 73,345 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in shares of Rivernorth Managed Duration Municipal Income Fund in the 1st quarter valued at approximately $1,472,000. Wedbush Securities Inc. purchased a new position in shares of Rivernorth Managed Duration Municipal Income Fund during the 3rd quarter valued at approximately $699,000. Janney Montgomery Scott LLC boosted its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 6.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 26,100 shares of the company’s stock valued at $356,000 after buying an additional 1,500 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 10.5% during the 1st quarter. NewEdge Advisors LLC now owns 17,850 shares of the company’s stock valued at $243,000 after buying an additional 1,700 shares during the last quarter.

Rivernorth Managed Duration Municipal Income Fund Price Performance

RMM stock opened at $13.28 on Thursday. Rivernorth Managed Duration Municipal Income Fund Inc. has a twelve month low of $12.15 and a twelve month high of $15.00. The firm has a 50 day simple moving average of $13.31 and a 200-day simple moving average of $14.09.

Rivernorth Managed Duration Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.0847 per share. This represents a $1.02 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Tuesday, December 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. 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.