Truist Financial Corp Has $435,000 Position in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)

Truist Financial Corp boosted its holdings in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 20.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 28,500 shares of the company’s stock after purchasing an additional 4,886 shares during the period. Truist Financial Corp’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. bought a new position in shares of Rivernorth Managed Duration Municipal Income Fund in the first quarter valued at approximately $150,000. CreativeOne Wealth LLC grew its holdings in Rivernorth Managed Duration Municipal Income Fund by 8.0% during the 1st quarter. CreativeOne Wealth LLC now owns 11,097 shares of the company’s stock worth $166,000 after acquiring an additional 824 shares during the last quarter. Fairhaven Wealth Management LLC bought a new stake in Rivernorth Managed Duration Municipal Income Fund during the 1st quarter worth about $295,000. XML Financial LLC grew its holdings in Rivernorth Managed Duration Municipal Income Fund by 8.6% during the 1st quarter. XML Financial LLC now owns 22,000 shares of the company’s stock worth $329,000 after acquiring an additional 1,750 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in Rivernorth Managed Duration Municipal Income Fund during the 1st quarter worth about $353,000.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

Rivernorth Managed Duration Municipal Income Fund stock opened at $15.76 on Thursday. Rivernorth Managed Duration Municipal Income Fund Inc. has a 1 year low of $12.32 and a 1 year high of $16.37. The company’s 50-day moving average is $15.73 and its two-hundred day moving average is $15.25.

Rivernorth Managed Duration Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given 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 dividend yield of 6.97%.

Rivernorth Managed Duration Municipal Income Fund Company 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.