Stock market today: Stocks fall as investors rotate out of tech into Jackson Hole
In a recent transaction, Patrick W. Galley, President of RiverNorth Managed Duration Municipal Income Fund, Inc. (NYSE:RMM), a $258 million market cap fund offering an attractive 8.3% dividend yield, acquired a total of 6,000 shares of common stock. The purchases, which took place on April 8, 2025, were executed at prices ranging from $13.11 to $13.18 per share, amounting to a total investment of $78,900. According to InvestingPro data, these purchases occurred near the fund's 52-week low of $13.05.
Following these transactions, Galley now holds 11,000 shares in a trust account. This activity reflects Galley's continued investment in RiverNorth, underscoring his confidence in the company's future prospects, particularly notable given the fund's recent 15% decline over the past six months and its current Fair financial health rating.
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