Rivernorth Managed Duration Municipal Income Fund Inc. $RMM Shares Purchased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. boosted its stake in Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 98.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,605 shares of the company’s stock after acquiring an additional 47,358 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $1,301,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Advocate Investing Services LLC purchased a new stake in shares of Rivernorth Managed Duration Municipal Income Fund during the fourth quarter valued at approximately $34,000. Advisory Services Network LLC acquired a new stake in Rivernorth Managed Duration Municipal Income Fund during the 3rd quarter valued at $62,000. Kestra Advisory Services LLC acquired a new stake in Rivernorth Managed Duration Municipal Income Fund during the 4th quarter valued at $67,000. EverSource Wealth Advisors LLC purchased a new stake in Rivernorth Managed Duration Municipal Income Fund during the 3rd quarter worth $71,000. Finally, Closed End Fund Advisors Inc. purchased a new stake in Rivernorth Managed Duration Municipal Income Fund during the 4th quarter worth $162,000.

Rivernorth Managed Duration Municipal Income Fund Trading Up 0.2%

Shares of RMM stock opened at $14.81 on Thursday. The company’s fifty day moving average price is $14.44 and its two-hundred day moving average price is $14.19. Rivernorth Managed Duration Municipal Income Fund Inc. has a 12 month low of $13.35 and a 12 month high of $14.88.

Rivernorth Managed Duration Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be given a dividend of $0.0847 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, October 16th.

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.