RMM Stock Overview
Rivernorth Managed Duration Municipal Income Fund Inc.
Price History & Performance
|Historical stock prices|
|Current Share Price||US$18.53|
|52 Week High||US$21.97|
|52 Week Low||US$17.62|
|1 Month Change||-5.60%|
|3 Month Change||-5.36%|
|1 Year Change||0.16%|
|3 Year Change||n/a|
|5 Year Change||n/a|
|Change since IPO||-7.30%|
Recent News & Updates
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.
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.
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
|RMM||US Capital Markets||US Market|
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.
|RMM Average Weekly Movement||1.8%|
|Capital Markets Industry Average Movement||0.7%|
|Market Average Movement||6.6%|
|10% most volatile stocks in US Market||15.7%|
|10% least volatile stocks in US Market||2.4%|
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
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
|RMM fundamental statistics|
Is RMM overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|RMM income statement (TTM)|
|Cost of Revenue||US$0|
Last Reported Earnings
Next Earnings Date
|Earnings per share (EPS)||0|
|Net Profit Margin||0.00%|
How did RMM perform over the long term?See historical performance and comparison
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.
How is Rivernorth Managed Duration Municipal Income Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
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.
How has Rivernorth Managed Duration Municipal Income Fund performed over the past 5 years?
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.
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.
What is Rivernorth Managed Duration Municipal Income Fund current dividend yield, its reliability and sustainability?
Upcoming Dividend Payment
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.
How experienced are the management team and are they aligned to shareholders interests?
Rivernorth Managed Duration Municipal Income Fund has no CEO, or we have no data on them.
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
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Rivernorth Managed Duration Municipal Income Fund Inc.'s employee growth, exchange listings and data sources
- 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
- Rivernorth Managed Duration Municipal Income Fund Inc.
- 433 West Van Buren Street
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/01/19 23:52|
|End of Day Share Price||2022/01/19 00:00|
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.