In Friday’s session, Rivernorth Managed Duration Municipal Income Fund Inc. (NYSE:RMM) marked $14.40 per share, down from $14.41 in the previous session. While Rivernorth Managed Duration Municipal Income Fund Inc. has underperformed by -0.07%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RMM fell by -28.00%, with highs and lows ranging from $20.25 to $13.43, whereas the simple moving average fell by -7.89% in the last 200 days.
Analysis of Rivernorth Managed Duration Municipal Income Fund Inc. (RMM)
With RMM’s current dividend of $1.11 per share, investors can expect to earn a return regardless of performance.
The average volume for any stock is also a very valuable indicator of volatility, and RMM has an average volume of 81.06K. On a monthly basis, the volatility of the stock is set at 2.40%, whereas on a weekly basis, it is put at 3.36%, with a loss of -1.57% over the past seven days.
How Do You Analyze Rivernorth Managed Duration Municipal Income Fund Inc. Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As opposed to executive stock, institutional ownership accounts for 10.19% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in RMM shares?
The recent increase in stakes in RMM appears to be a result of several institutional investors and hedge funds increasing their positions. UBS Financial Services, Inc.’s position in RMM has increased by 2.35% in the first quarter. The company now owns 374,385 shares of the stock, with a value of $5.81 million, following the purchase of 8,607 additional shares during the last quarter. Morgan Stanley Smith Barney LLC made another increased to its shares in RMM during the first quarter, upping its stake by 3.69%. During the last quarter, the company picked up 11,085 additional shares for a total stake of worth $4.84 million, bringing number of shares owned by the company to 311,552.
During the first quarter, RBC Capital Markets LLC added a 50,901 position in RMM. Wells Fargo Clearing Services LLC purchased an additional 1047.0 shares in the last quarter, increasing its holdings by 0.68%, now holding 0.16 million shares worth $2.42 million. At the end of the first quarter, Stifel Nicolaus & Co., Inc. decreased its RMM holdings by -2.55% and now holds 0.15 million RMM shares valued at $2.4 million with the lessened 4051.0 shares during the period. RMM shares are owned by institutional investors to the tune of 10.19% at present.