Wagner Wealth Management LLC Raises Position in Rivernorth Managed Duration Municipal Income Fund Inc. $RMM

Wagner Wealth Management LLC increased its stake in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 222.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,638 shares of the company’s stock after buying an additional 49,403 shares during the quarter. Wagner Wealth Management LLC’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $1,013,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC grew its holdings in Rivernorth Managed Duration Municipal Income Fund by 7.4% during the 2nd quarter. NewEdge Advisors LLC now owns 16,750 shares of the company’s stock valued at $225,000 after purchasing an additional 1,150 shares during the last quarter. XML Financial LLC lifted its stake in Rivernorth Managed Duration Municipal Income Fund by 3.6% in the third quarter. XML Financial LLC now owns 34,099 shares of the company’s stock worth $482,000 after purchasing an additional 1,200 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Rivernorth Managed Duration Municipal Income Fund by 6.5% during the second quarter. Bank of America Corp DE now owns 21,076 shares of the company’s stock valued at $283,000 after buying an additional 1,284 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Rivernorth Managed Duration Municipal Income Fund by 13.1% during the second quarter. Janney Montgomery Scott LLC now owns 17,304 shares of the company’s stock valued at $232,000 after buying an additional 2,000 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its holdings in shares of Rivernorth Managed Duration Municipal Income Fund by 2.1% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 166,643 shares of the company’s stock worth $2,356,000 after buying an additional 3,500 shares during the period.

Rivernorth Managed Duration Municipal Income Fund Price Performance

Shares of RMM stock opened at $13.61 on Friday. The stock has a 50 day moving average price of $13.90 and a 200 day moving average price of $13.81. Rivernorth Managed Duration Municipal Income Fund Inc. has a 52-week low of $12.55 and a 52-week high of $15.23.

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.