Oppenheimer & Co. Inc. Has $354,000 Stock Position in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM)

Oppenheimer & Co. Inc. lessened its holdings in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 6.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,000 shares of the company’s stock after selling 1,600 shares during the period. Oppenheimer & Co. Inc.’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $354,000 at the end of the most recent quarter.

Several other large investors have also 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. Truist Financial Corp boosted its holdings in Rivernorth Managed Duration Municipal Income Fund by 20.7% during the 2nd 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. CreativeOne Wealth LLC grew its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 8.0% in 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 in the last quarter. ProVise Management Group LLC raised its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 13.6% in the second 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 last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in shares of Rivernorth Managed Duration Municipal Income Fund by 0.7% during the third quarter. Stratos Wealth Partners LTD. now owns 428,086 shares of the company’s stock valued at $6,879,000 after purchasing an additional 3,060 shares in the last quarter.

Rivernorth Managed Duration Municipal Income Fund Stock Down 0.6 %

Shares of Rivernorth Managed Duration Municipal Income Fund stock opened at $15.25 on Friday. Rivernorth Managed Duration Municipal Income Fund Inc. has a 1 year low of $13.97 and a 1 year high of $16.37. The stock has a fifty day moving average price of $15.73 and a 200-day moving average price of $15.39.

Rivernorth Managed Duration Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.0916 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.10 annualized dividend and a yield of 7.21%.

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.