RiverNorth Managed Duration Municipal Income Fund chart

Last update: 2022-12-30
Key statistics and financials
Revenue per share N/A
Dividend & Yield1.09$ (7.03%)
Beta N/A
Market capitalization 301.82M
Operating cash flow N/A
ESG Scores unknown

Company description

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. The fund employs proprietary research to create its portfolio. Rivernorth Managed Duration Municipal Income Fund Inc. was formed on July 26, 2019 and is domiciled in the United States.

Sector: Financial Services - Industry: Asset Management

Financial data

Financial Statements

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Insider Transactions

Here are the insider transactions of stock shares related to RiverNorth Managed Duration Municipal Income Fund :

Filer Name Transaction Text Ownership Date Filer Relation Shares
GALLEY PATRICK W.Sale at price 13.91 per share.D2022-11-04President2k
GALLEY PATRICK W.Sale at price 13.62 - 13.64 per share.D2022-10-31President3k
LAWLOR JOHN JSale at price 15.80 per share.D2022-05-03Other Executive1k
SPRAUER SCOTT APurchase at price 19.12 per share.D2022-02-15Other Executive1k
DIMELLA ROBERT APurchase at price 18.99 per share.D2022-02-11Other Executive10k
GALLEY PATRICK W.Purchase at price 18.75 per share.D2022-02-11President5k
HUTCHENS JOHN WAYNEPurchase at price 19.73 per share.D2021-11-22Director1.5k
DIMELLA ROBERT ASale at price 20.29 - 20.35 per share.D2021-06-17Other Executive15.86k
O NEILL STEPHEN ANDREWSale at price 19.28 - 19.29 per share.D2021-04-19Other Executive5.2k
SCHMUCKER BRIAN H.Sale at price 18.64 - 18.71 per share.D2021-04-01Affiliated Person29k
HUTCHENS JOHN WAYNEPurchase at price 17.90 per share.D2021-02-26Director1.5k
DOWDEN DAVID MPurchase at price 16.45 per share.D2020-05-21Other Executive500
SCHMUCKER BRIAN H.Purchase at price 13.79 - 13.80 per share.D2020-03-23Affiliated Person4k
DIMELLA ROBERT APurchase at price 14.20 per share.D2020-03-18Other Executive5k
SCHMUCKER BRIAN H.Purchase at price 14.04 - 16.19 per share.D2020-03-18Affiliate of Investment Advisor10k
SCHMUCKER BRIAN H.Purchase at price 17.28 - 18.40 per share.D2020-03-16Affiliated Person7.5k
DOWDEN DAVID MPurchase at price 19.24 per share.D2019-12-31Other Executive250

Insider transaction explanations

Insider buying is the legal purchase of shares by a senior executive or director of a company. "Filer Name" corresponds to the name of the stock buyer or seller. "Transaction Text" describes the transaction. "Ownership" gives information about the transaction type. "Date" is the reported transaction date. "Filer Relation" gives the role of the insider in the company. "Shares" is the value of the transaction. You will find the complete description of the General Transaction Codes on the SEC dedicated page


Investment strategy backtesting

These are the result of three automatic investment systems applied to RiverNorth Managed Duration Municipal Income Fund . You will find the performance of an systematic investment system, a momentum strategy, and a buy the dip trading strategy.


Systematic investment results on RiverNorth Managed Duration Municipal Income Fund

Here is the result of two systematic investment strategies applied to RiverNorth Managed Duration Municipal Income Fund . The first strategy automatically buys the first day of the month, and the second strategy buys the fifteenth day of the month.

Systematic investment equity curve on RiverNorth Managed Duration Municipal Income Fund

The following chart shows the equity curve of the two systematic investment strategies applied to RiverNorth Managed Duration Municipal Income Fund :

RiverNorth Managed Duration Municipal Income Fund  automated entries

The systematic investment strategy that buys the first day of the month would give a performance of -9.49% on the backtest period.

Performance at glance

Performance

-9.49 %

Latent gain

-210.57 $

Invested capital

2219.28 $

Annualized return

-2.29 %
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Momentum strategy results on RiverNorth Managed Duration Municipal Income Fund

This is the result of two momentum investment strategies applied to RiverNorth Managed Duration Municipal Income Fund . The first strategy uses a momentum signal calculated on one quarter, and the second uses a momentum signal calculated on two quarters.

Momentum entry openings on RiverNorth Managed Duration Municipal Income Fund

The following chart shows all the entries opened by the momentum investment system on RiverNorth Managed Duration Municipal Income Fund :

RiverNorth Managed Duration Municipal Income Fund  momentum entries
  • The first momentum investment strategy would give 4.95% of return on RiverNorth Managed Duration Municipal Income Fund . That represents 147.25$ of latent gain with 2977.41$ of employed capital.
  • The second momentum investment strategy would give 4.42% of return on RiverNorth Managed Duration Municipal Income Fund . That represents 66.17$ of latent gain with 1496.16$ of employed capital.
Performance at glance (1Q Momentum)

Performance

4.95 %

Latent gain

147.25 $

Invested capital

2977.41 $

Annualized return

0.0 %
Performance at glance (2Q Momentum)

Performance

4.42 %

Latent gain

66.17 $

Invested capital

1496.16 $

Annualized return

1.21 %

Momentum equity curve on RiverNorth Managed Duration Municipal Income Fund

The following chart shows the equity curve of the two momentum strategies applied to RiverNorth Managed Duration Municipal Income Fund :

RiverNorth Managed Duration Municipal Income Fund  momentum equity

Note: the dividends potentially given by RiverNorth Managed Duration Municipal Income Fund are not integrated into the calculation of the equity curve neither the performance of the strategy. The integration of the dividends will be available soon.


Employed capital on RiverNorth Managed Duration Municipal Income Fund

The following chart shows the employed capital evolution of the two momentum strategies on RiverNorth Managed Duration Municipal Income Fund since the beginning:

RiverNorth Managed Duration Municipal Income Fund

Note: the algorithm buys for a maximum of 250$ per entry. If the stock price is greater than 250$, the system buys only one stock per entry. The investment system stops automatically when the financial exposure reaches 10000$.


Buy the dip strategy result on RiverNorth Managed Duration Municipal Income Fund

Buy the dip entry openings on RiverNorth Managed Duration Municipal Income Fund

RiverNorth Managed Duration Municipal Income Fund

The performance achieved by the robo-advisor on RiverNorth Managed Duration Municipal Income Fund is 0%. That represents 0.0$ of latent gain with 0.0$ of employed capital. The following chart shows RiverNorth Managed Duration Municipal Income Fund stock price with all the entries opened by the automated investment system.

Note: The blue line represents the weekly stock price of RiverNorth Managed Duration Municipal Income Fund , and the green triangles represent the entry openings. The artificall robo-advisor needs at least 100 weeks of trading history to work.

Performance at glance

Performance

0 %

Latent gain

0.0 $

Invested capital

0.0 $

Annualized return

0.0 %

Equity curve of the strategy applied to RiverNorth Managed Duration Municipal Income Fund

The following chart shows the result of the investment strategy applied to RiverNorth Managed Duration Municipal Income Fund :

RiverNorth Managed Duration Municipal Income Fund

Note: the dividends potentially given by RiverNorth Managed Duration Municipal Income Fund are not integrated into the calculation of the equity curve neither the performance of the strategy. The integration of the dividends will be available soon.


Employed capital on RiverNorth Managed Duration Municipal Income Fund

The following chart shows the employed capital evolution since the beginning of the investment strategy on RiverNorth Managed Duration Municipal Income Fund :

RiverNorth Managed Duration Municipal Income Fund

Note: the algorithm buys for a maximum of 250$ per entry. If the stock price is greater than 250$, the system buys only one stock per entry. The investment system stops automatically when the financial exposure reaches 10000$.


Investment strategies comparison on RiverNorth Managed Duration Municipal Income Fund

In this section, I will compare the three previous investment strategies applied to RiverNorth Managed Duration Municipal Income Fund .

Equity curve comparison on RiverNorth Managed Duration Municipal Income Fund

The following chart shows the equity curve of the artificall advisor, the trend folowing and the automatic investment strategies:

RiverNorth Managed Duration Municipal Income Fund  investment strategy comparison

Employed capital comparison on RiverNorth Managed Duration Municipal Income Fund

RiverNorth Managed Duration Municipal Income Fund  investment comparison

Performance comparison on RiverNorth Managed Duration Municipal Income Fund

Strategy Latent Profit Growth Employed capital CAGR
Automatic investment -9.49% -210.57$ 2219.28$ -2.29%
Momentum 1 quarter 4.95% 147.25$ 2977.41$ 1.27%
Momentum 2 quarters 4.42% 66.17$ 1496.16$ 1.21%
Non-directional 0% 0.0$ 0.0$ 0.0%
Annualized return comparison

Automatic investment

-2.29 %

Momentum 1Q

1.21 %

Momentum 2Q

1.21 %

Non-directional

0.0 %

Correlated stocks

Here are the most positively and negatively correlated stocks with RiverNorth Managed Duration Municipal Income Fund :

Negative correlation

Most negatively correlated stocks this year


Most negatively correlated stocks last 3 months


Note: The algorithm computes the probability of correlation between RiverNorth Managed Duration Municipal Income Fund and the other stocks. There may be false positives or some missing correlated stocks. If the price of RiverNorth Managed Duration Municipal Income Fund does not vary for 36 weeks, the correlation calculation result will be wrong.


Company information

Company name RiverNorth Managed Duration Municipal Income Fund
Country United States
City Chicago
Address 325 North LaSalle Street
Phone 312-832-1440
Website www.rivernorth.com/closed-end-funds/rmm
FullTime employees
Industry Asset Management
Sector Financial Services
Exchange XNYS
Ticker RMM
Market www.nyse.com

RiverNorth Managed Duration Municipal Income Fund ESG Scores

Environment scores

Environment ESG Factors Scores
Environment Score 0
Peer Environment Performance unknown
Environment Percentile unknown
Palm Oil unknown
Nuclear unknown
Fur Leather unknown
GMO unknown
Coal unknown
Pesticides unknown
Animal Testing unknown

Social scores

Social ESG Factors Scores
Social Score 0
Peer Social Performance unknown
Social Percentile unknown
Highest Controversy unknown
Peer Highest Controversy Performance unknown
Adult unknown
Gambling unknown
Alcoholic unknown
Tobacco unknown
Catholic unknown
Controversial Weapons unknown
Small Arms unknown
Military Contract unknown
Peer Count unknown

Related Controversy:


Governance scores

Governance ESG Factors Scores
Governance Score 0
Peer Governance Performance unknown
Governance Percentile unknown

ESG at glance
Total ESG Scores: unknown
Environment Score: 0
Social Score: 0
Governance Score: 0

ESG Performance: unknown

Peer Group: unknown

Peer Esg Score Performance: unknown

Rating Year: unknown

Rating Month: unknown

Max Age: unknown

Percentile: unknown