Stifel Financial Corp Has $5.30 Million Holdings in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)

Stifel Financial Corp raised its position in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 37.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 329,524 shares of the company’s stock after acquiring an additional 89,861 shares during the period. Stifel Financial Corp’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $5,295,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. CreativeOne Wealth LLC boosted its stake in Rivernorth Managed Duration Municipal Income Fund by 13.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 11,968 shares of the company’s stock valued at $192,000 after purchasing an additional 1,378 shares during the period. XML Financial LLC boosted its position in shares of 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 grew its stake in shares of 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 worth $435,000 after acquiring an additional 4,886 shares during the last quarter. Advisors Asset Management Inc. increased its position in Rivernorth Managed Duration Municipal Income Fund by 65.3% during the third quarter. Advisors Asset Management Inc. now owns 113,914 shares of the company’s stock worth $1,831,000 after acquiring an additional 45,002 shares during the period. Finally, ProVise Management Group LLC boosted its holdings in Rivernorth Managed Duration Municipal Income Fund by 13.6% in the 2nd quarter. ProVise Management Group LLC now owns 159,630 shares of the company’s stock valued at $2,436,000 after purchasing an additional 19,149 shares during the period.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

NYSEARCA:RMM opened at $15.40 on Friday. The firm’s 50-day moving average is $15.65 and its 200-day moving average is $15.50. Rivernorth Managed Duration Municipal Income Fund Inc. has a 52-week low of $13.97 and a 52-week high of $16.37.

Rivernorth Managed Duration Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.0916 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.14%.

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.