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RMM

Rivernorth Managed Duration Municipal Income FundNYSE:RMM Stock Report

Last Price

US$18.53

Market Cap

US$390.3m

7D

-7.3%

1Y

0.2%

Updated

19 Jan, 2022

Data

Company Financials
RMM fundamental analysis
Snowflake Score
Valuation0/6
Future Growth0/6
Past Performance0/6
Financial Health0/6
Dividends0/6

RMM Stock Overview

Rivernorth Managed Duration Municipal Income Fund Inc.

Price History & Performance

Summary of all time highs, changes and price drops for Rivernorth Managed Duration Municipal Income Fund
Historical stock prices
Current Share PriceUS$18.53
52 Week HighUS$21.97
52 Week LowUS$17.62
Beta0
1 Month Change-5.60%
3 Month Change-5.36%
1 Year Change0.16%
3 Year Changen/a
5 Year Changen/a
Change since IPO-7.30%

Recent News & Updates

Jun 15

RMM: Muni Exposure And Monthly Income

RMM is another RiverNorth fund that is similar to RMI that we just covered. The strategies are largely the same; however, RMM is meaningfully larger, and the portfolio hedged duration is shorter. Over the last year, RMM has outperformed RMI as well.

Jan 04

RiverNorth Managed Duration Municipal Income Fund declares $0.0917 dividend

RiverNorth Managed Duration Municipal Income Fund (RMM) declares $0.0917/share monthly dividend, in line with previous.Forward yield 6.16%Payable Jan. 29; for shareholders of record Jan. 15; ex-div Jan. 14.Payable Feb. 26; for shareholders of record Feb. 11; ex-div Feb. 10.Payable Mar. 31; for shareholders of record Mar. 17; ex-div Mar. 16.See RMM Dividend Scorecard, Yield Chart, & Dividend Growth.

Dec 21

RMM: Clearly Has One Of The Highest Muni Yields, But It Is Not A Clear Buy

Main Thesis The purpose of this article is to evaluate the RiverNorth Managed Duration Municipal Income Fund (RMM) as an investment option at its current market price. As my readers are aware, I continue to push muni bond exposure for the new year. However, I am well aware of the risks facing the sector, as well as the broader market. Therefore, I believe selective buying is the name of the game. Specifically, this means finding

Shareholder Returns

RMMUS Capital MarketsUS Market
7D-7.3%-5.5%-4.6%
1Y0.2%24.6%7.7%

Return vs Industry: RMM underperformed the US Capital Markets industry which returned 25.7% over the past year.

Return vs Market: RMM underperformed the US Market which returned 10.2% over the past year.

Price Volatility

Is RMM's price volatile compared to industry and market?
RMM volatility
RMM Average Weekly Movement1.8%
Capital Markets Industry Average Movement0.7%
Market Average Movement6.6%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.4%

Stable Share Price: RMM is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: RMM's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2019n/an/ahttps://www.rivernorth.com/closed-end-funds/rmm

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.

Rivernorth Managed Duration Municipal Income Fund Fundamentals Summary

How do Rivernorth Managed Duration Municipal Income Fund's earnings and revenue compare to its market cap?
RMM fundamental statistics
Market CapUS$390.25m
Earnings (TTM)US$0
Revenue (TTM)n/a

n/a

P/E Ratio

n/a

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
RMM income statement (TTM)
RevenueUS$0
Cost of RevenueUS$0
Gross ProfitUS$0
ExpensesUS$0
EarningsUS$0

Last Reported Earnings

n/a

Next Earnings Date

n/a

Earnings per share (EPS)0
Gross Margin0.00%
Net Profit Margin0.00%
Debt/Equity Ratio0.0%

How did RMM perform over the long term?

See historical performance and comparison

Valuation

Is Rivernorth Managed Duration Municipal Income Fund undervalued compared to its fair value and its price relative to the market?


In this section, we usually try to help investors determine whether Rivernorth Managed Duration Municipal Income Fund is trading at an attractive price based on the cash flow it is expected to produce in the future. But as Rivernorth Managed Duration Municipal Income Fund has not provided consistent financial data, and the stock also has no analyst forecast or coverage, its intrinsic value cannot be reliably calculated by extrapolating past data or using analyst consensus cash flow predictions.

This is quite a rare situation as 89% of companies covered by Simply Wall St do have a valuation analysis.

Future Growth

How is Rivernorth Managed Duration Municipal Income Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

6.3%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Rivernorth Managed Duration Municipal Income Fund has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Rivernorth Managed Duration Municipal Income Fund performed over the past 5 years?

20.3%

Historical Diversified Financials annual earnings growth


In this section we usually display a company’s past earnings and revenues to help investors visualise the trend through time. We also gauge the company’s performance by benchmarking its returns and growth to its industry peers and the wider market. However, Rivernorth Managed Duration Municipal Income Fund has not provided sufficient past data to assess its track record.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have historical data.

Financial Health

How is Rivernorth Managed Duration Municipal Income Fund's financial position?


In this section we usually analyse Rivernorth Managed Duration Municipal Income Fund's finance health to determine how well-positioned it is against times of financial distress, in particular, its ability to manage its cash and debt levels. Rivernorth Managed Duration Municipal Income Fund has not provided adequate balance sheet data, its financial health cannot be properly assessed as it.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have financial information.

Dividend

What is Rivernorth Managed Duration Municipal Income Fund current dividend yield, its reliability and sustainability?


Upcoming Dividend Payment

TodayJan 20 2022Ex Dividend DateFeb 10 2022Dividend Pay DateFeb 28 202218 days from Ex DividendBuy in the next 21 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: Unable to evaluate RMM's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate RMM's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if RMM's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if RMM's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of RMM's dividend in 3 years as they are not forecast to pay a notable one for the US market.

Management

How experienced are the management team and are they aligned to shareholders interests?


CEO

Rivernorth Managed Duration Municipal Income Fund has no CEO, or we have no data on them.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: RMM insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Rivernorth Managed Duration Municipal Income Fund Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Rivernorth Managed Duration Municipal Income Fund Inc.
  • Ticker: RMM
  • Exchange: NYSE
  • Founded: 2019
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Implied Market Cap: US$390.250m
  • Shares outstanding: 19.74m
  • Website: https://www.rivernorth.com/closed-end-funds/rmm

Location

  • Rivernorth Managed Duration Municipal Income Fund Inc.
  • 433 West Van Buren Street
  • 1150-E
  • Chicago
  • Illinois
  • 60607
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/19 23:52
End of Day Share Price2022/01/19 00:00
EarningsN/A
Annual EarningsN/A


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.