Rivernorth Capital Management Acquired Stake in Managed Duration Investment Grade Municipal Fund

August 10, 2017 - By Dolores Ford

 Rivernorth Capital Management Acquired Stake in Managed Duration Investment Grade Municipal Fund

Investors sentiment increased to 1.67 in Q4 2016. Its up 0.67, from 1 in 2016Q3. It improved, as 2 investors sold Managed Duration Invtmt Grd Mun Fund shares while 4 reduced holdings. 3 funds opened positions while 7 raised stakes. 2.55 million shares or 14.09% more from 2.24 million shares in 2016Q3 were reported.

Advsr Asset Mngmt holds 104,656 shares. Financial Bank Of America Corp De invested in 29,864 shares. Commonwealth Equity Svcs holds 10,012 shares or 0% of its portfolio. Karpus Mgmt stated it has 1.40 million shares or 1.06% of all its holdings. Sit Invest Assocs holds 0.06% of its portfolio in Managed Duration Invtmt Grd Mun Fund (NYSE:MZF) for 169,737 shares. The Michigan-based Sigma Planning Corporation has invested 0.03% in Managed Duration Invtmt Grd Mun Fund (NYSE:MZF). Horizon Kinetics Lc holds 0.01% or 31,893 shares. Raymond James Assocs holds 17,308 shares. Morgan Stanley holds 168,050 shares. Rivernorth Capital Mngmt Ltd Limited Liability Company owns 64,861 shares. Highlander Capital Limited Com invested in 414 shares or 0% of the stock. Pnc Fincl Services Grp holds 0% in Managed Duration Invtmt Grd Mun Fund (NYSE:MZF) or 83,400 shares. Fiera Cap holds 0.01% of its portfolio in Managed Duration Invtmt Grd Mun Fund (NYSE:MZF) for 119,373 shares. Janney Montgomery Scott Limited Co reported 10,730 shares. Wells Fargo Mn holds 0% of its portfolio in Managed Duration Invtmt Grd Mun Fund (NYSE:MZF) for 105,055 shares.

The New Rivernorth Capital Management Holding in Managed Duration Investment Grade Municipal Fund

Rivernorth Capital Management reported SC 13G form with the SEC for Managed Duration Investment Grade Municipal Fund. Access it here: 000091384917000265. As reported by Rivernorth Capital Management, the filler owns 10.32% or 702,434 shares of the Finance–company.

Managed Duration Investment Grade Municipal Fund stake is new for [reportingPerson]. Date of activity: July 31, 2017. This shows Rivernorth Capital Management’s positive view for Managed Duration Investment Grade Municipal Fund. For a institutional investor managing $2.15 billion in assets and having 18+ experts this is interesting position.

Managed Duration Investment Grade Municipal Fund Institutional Sentiment

Filings show 19 investors own Managed Duration Investment Grade Municipal Fund. The ownership in Q3 2015 is low, at 22.30 % of the outstanding shares. This is increased by 318459. 1516594 were owned by these investors. 4 funds opened new Managed Duration Investment Grade Municipal Fund stakes, 3 increased positions. There were 3 that closed positions and 7 reduced them.

Murray Stahl Horizon Kinetics Llc is an investor bullish on Managed Duration Investment Grade Municipal Fund, owning 60169 shares as of Q3 2015 for 0.01% of its portfolio. Tradewinds Capital Management Llc owns 33596 shares or 0.35% of its portfolio. NY Samson Capital Advisors Llc have 0.45% of its portfolio for 77284 shares. Further, Ashford Capital Management Inc reported stake worth 0.74% of its portfolio. The NY Karpus Management Inc owns 435649 shares. Managed Duration Investment Grade Municipal Fund is 0.27% of its portfolio.

Business Profile

Managed Duration Investment Grade Municipal Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is to provide its common shareholders with high current income exempt from regular federal income tax while seeking to protect the value of the Fund’s assets during periods of interest rate volatility. Under normal market conditions, the Fund seeks to achieve its objective by investing at least 80% of its total assets in municipal bonds of investment grade quality and will normally invest substantially all of its total assets in municipal bonds of investment-grade quality. The Fund’s portfolio includes its investments in various sectors, medical, transportation, power, education, industrial development, water and sewer, and airport. Cutwater Investor Services Corp. is the Fund’s investment advisor.

SEC Form 13G.

Rivernorth Capital Management website.

About 9,735 shares traded or 0.95% up from the average. Managed Duration Invtmt Grd Mun Fund (NYSE:MZF) has declined 2.17% since August 10, 2016 and is downtrending. It has underperformed by 18.87% the S&P500.

Managed Duration Investment Grade Municipal Fund is a diversified, closed-end management investment company. The company has market cap of $93.51 million. The Fund’s investment objective is to provide its common shareholders with high current income exempt from regular federal income tax while seeking to protect the value of the Fund’s assets during periods of interest rate volatility. It currently has negative earnings. Under normal market conditions, the Fund seeks to achieve its objective by investing at least 80% of its total assets in municipal bonds of investment grade quality and will normally invest substantially all of its total assets in municipal bonds of investment-grade quality.

More notable recent Managed Duration Invtmt Grd Mun Fund (NYSE:MZF) news were published by: Businesswire.com which released: “Managed Duration Investment Grade Municipal Fund Declares April Dividend” on March 31, 2017, also Businesswire.com with their article: “Managed Duration Investment Grade Municipal Fund Declares June Dividend” published on June 01, 2017, Businesswire.com published: “Managed Duration Investment Grade Municipal Fund Announces Redemption of …” on July 14, 2017. More interesting news about Managed Duration Invtmt Grd Mun Fund (NYSE:MZF) were released by: Seekingalpha.com and their article: “Managed Duration Investment Grade Muni CEF: ~10% Tax-Equivalent Yield, 9 …” published on March 04, 2014 as well as Businesswire.com‘s news article titled: “Managed Duration Investment Grade Municipal Fund Announces Pricing and Private …” with publication date: July 12, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.