RiverNorth Managed Duration Municipal Income Fund

RMM

Market cap $276M

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Municipal bonds are trading at persistent discounts due to the Federal Reserve maintaining interest rates at elevated levels. We forecast additional cuts that will boost values considerably. Collect federal tax-free income.

I maintain a 'hold' rating on RMM, despite its attractive 8% yield and notable discount to NAV, due to lingering concerns from past reviews. Municipal bonds remain a core allocation for me, offering superior after-tax yields versus similarly rated corporates, especially as tax rates rise. RMM's current discount to NAV is appealing, but it's consistent with its historical range, so I don't see it as a standout bargain.

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WEST PALM BEACH, Fla.--(BUSINESS WIRE)--In accordance with the RiverNorth closed-end funds (the “Funds”) level distribution policies, the reset distribution rates have been proposed for the calendar year 2025, as detailed below. Further, the Funds have established the distribution dates for January, February, and March 2025. The payment of the distributions are subject to Board approval. Ex Date Record Date Payable Date January 15, 2025 January 15, 2025 January 31, 2025 February 14, 2025 Februa.

The recent 10-year Treasury yield spike presents a buying opportunity in the muni bond CEFs offering better NAV discount and high yield. RiverNorth Managed Duration Muni offers a 6.88% yield and relatively strong performance in 2024 due to the unique and adaptive fund strategy. RMM and its peer RMI (7% yield) are term funds with liquidation in 6-7 years, offering price stability and ensuring NAV discount closure, good for longer-term holding.

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--In accordance with the RiverNorth closed-end funds (the “Funds”) level distribution policies, the Funds have declared distributions for October, November and December 2024, as detailed below. Ex Date Record Date Payable Date October 15, 2024 October 15, 2024 October 31, 2024 November 15, 2024 November 15, 2024 November 29, 2024 December 13, 2024 December 13, 2024 December 31, 2024 Tax-Exempt Distributions1 Fund Name Ticker Distribution Per Share Net Asset.

RiverNorth Managed Duration Municipal Income Fund is a muni bond-focused fund managed by RiverNorth and MacKay Shields. A swap to RiverNorth Flexible Municipal Income Fund II based on relative valuations has worked well, and there could be more potential room for this to play out. RMM offers a managed 6.75% distribution based on year-end NAV, and that payout will need to be supported with capital gains and/or return of capital.

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--In accordance with the RiverNorth closed-end funds (the “Funds”) level distribution policies, the Funds have declared distributions for July, August and September 2024, as detailed below. Ex Date Record Date Payable Date July 15, 2024 July 15, 2024 July 31, 2024 August 15, 2024 August 15, 2024 August 30, 2024 September 13, 2024 September 13, 2024 September 30, 2024 Tax-Exempt Distributions1 Fund Name Ticker Distribution Per Share Net Asset Value (NAV) as.

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