UBS Group AG Sells 48,979 Shares of Rivernorth Managed Duration Municipal Income Fund Inc. $RMM

UBS Group AG decreased its holdings in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 23.4% in the fourth quarter, Holdings Channel reports. The fund owned 159,932 shares of the company’s stock after selling 48,979 shares during the quarter. UBS Group AG’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $2,177,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Advisory Services Network LLC bought a new position in shares of Rivernorth Managed Duration Municipal Income Fund in the 3rd quarter valued at about $62,000. EverSource Wealth Advisors LLC bought a new stake in Rivernorth Managed Duration Municipal Income Fund in the third quarter worth about $71,000. Osaic Holdings Inc. lifted its stake in Rivernorth Managed Duration Municipal Income Fund by 79.5% in the second quarter. Osaic Holdings Inc. now owns 12,867 shares of the company’s stock worth $173,000 after purchasing an additional 5,700 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Rivernorth Managed Duration Municipal Income Fund in the second quarter worth about $217,000. Finally, NewEdge Advisors LLC lifted its stake in Rivernorth Managed Duration Municipal Income Fund by 7.4% in the second quarter. NewEdge Advisors LLC now owns 16,750 shares of the company’s stock worth $225,000 after purchasing an additional 1,150 shares during the last quarter.

Rivernorth Managed Duration Municipal Income Fund Price Performance

Shares of NYSEARCA RMM opened at $14.50 on Thursday. Rivernorth Managed Duration Municipal Income Fund Inc. has a 1 year low of $13.28 and a 1 year high of $14.88. The firm has a 50-day simple moving average of $14.13 and a two-hundred day simple moving average of $14.09.

Rivernorth Managed Duration Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.0847 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a yield of 7.0%.

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.