RiverNorth Managed Duration Municipal Income Fund said on April 3, 2023 that its board of directors declared a regular
monthly dividend of $0.09 per share ($1.09 annualized).
Previously, the company paid $0.09 per share.
Shares must be purchased before the ex-div date of April 13, 2023 to qualify for the dividend.
Shareholders of record as of April 14, 2023
will receive the payment on April 28, 2023.
At the current share price of $15.16 / share,
the stock’s dividend yield is 7.21%.
Looking back five years and taking a sample every week, the average dividend yield has been
31.85%,
the lowest has been 7.07%,
and the highest has been 43.52%.
The standard deviation of yields is 5.97 (n=174).
The current dividend yield is
4.13 standard deviations
below
the historical average.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 33 funds or institutions reporting positions in RiverNorth Managed Duration Municipal Income Fund.
This is an increase
of
5
owner(s) or 17.86% in the last quarter.
Average portfolio weight of all funds dedicated to RMM is 0.05%,
a decrease
of 3.76%.
Total shares owned by institutions increased
in the last three months by 10.53% to 2,197K shares.
What are Other Shareholders Doing?
Janney Montgomery Scott
holds 25K shares.
In it’s prior filing, the firm reported owning 43K shares, representing
a decrease
of 74.81%.
The firm
decreased
its portfolio allocation in RMM by 48.72% over the last quarter.
Morgan Stanley
holds 367K shares.
In it’s prior filing, the firm reported owning 312K shares, representing
an increase
of 15.11%.
The firm
decreased
its portfolio allocation in RMM by 86.71% over the last quarter.
West Branch Capital
holds 0K shares.
Wagner Wealth Management
holds 15K shares.
In it’s prior filing, the firm reported owning 33K shares, representing
a decrease
of 125.20%.
The firm
decreased
its portfolio allocation in RMM by 63.54% over the last quarter.
Advisor Group Holdings
holds 92K shares.
In it’s prior filing, the firm reported owning 93K shares, representing
a decrease
of 0.96%.
The firm
decreased
its portfolio allocation in RMM by 87.02% over the last quarter.
RiverNorth Managed Duration Municipal Income Fund Background Information
(This description is provided by the company.)
The RiverNorth Managed Duration Municipal Income Fund, Inc. (the “Fund”) seeks to provide current income exempt from regular U.S. federal income taxes1 with a secondary objective of total return.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
