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RiverNorth Managed Duration Municipal Income Fund, Inc. (RMM)

National Muni Bond Funds - National Municipal (tax-free) Bond

Data as of March 27, 2024
Current
Market Price $14.96 (+ $0.02)
NAV (March 27, 2024) $16.41 (- $0.01)
Fund Listed NYSE
Premium / Discount -8.84% (+0.18%)
Fund Info
Inception July 26, 2019
Sponsor RiverNorth Capital Managment, LLC
Website https://www.rivernorth...
Phone
NAV Symbol XRMMX
Location Illinois
Incorporated Maryland
Staggered Board Yes
Term Date July 25, 2031
Objective: Current income exempt from regular U.S. federal income taxes with a secondary objective of total return.
Related Indexes
Term Municipal Fund Index
Capital & Leverage
Outstanding Shares 19,737,257
Total Assets (Reported: Dec. 31, 2023) $526M
Estimated Total Assets $522M
Net Assets $324M
Market Cap $295M
Portfolio Turnover 121.00%
Total Leverage 37.95%
Structural Leverage (out of total) 0.00%
Portfolio Leverage (out of total) 100.00%
Expense Ratio 5.29%
Non Lev Exp Ratio 2.36%
Rel Lev Cost 4.72%
Discount Data
Average Discount (3 Yr) -4.86%
Discount Low(3 Yr) -13.15%
Discount High(3 Yr) 6.00%
Discount Rel Range (3 Yr) 22.52%
Comp Discount 1.09
Discount St Dev (1Yr) 2.96
Z-Stat
Z-Stat (6mo) 0.36
Z-Stat (1Yr) -0.56
Z-Stat (3Yr) -1.07
Comp Z-Stat (6mo) -0.74
Comp Z-Stat (3Yr) -0.39
Distribution Data
Market Yield 7.35%
Income Yield 2.21%
Lev Adj NAV Yield 4.86%
Distribution Frequency M
Current Distribution $0.092
Current Income $0.028
Ex-Date 3/14/24
Payable Date 3/28/24
Div Growth (3yr) -0.11%
Dividend Change 0.6% on 1/2/24
Expected Div 4/1/24
RoC (1yr) 73.37%
RoC (3yr) 56.77%
Tax Dividend Data 2022 2020 - 2022
Income 30.6% 10.8%
ST Gains 0% 0%
QDI 0% 0%
LT Gains 25.2% 8.4%
RoC 2.7% 34.2%
Volume & Liquidity
Average Daily $ (K) $959
Avg Volume 30 day 48,664
Avg Volume 90 day 64,129
Volume Trend -24.12%
Comp Volume Trend -12.69%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
35.0%
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
65.0%
Price Correlation (1yr)
vs. CEFA's National Municipal Bond Index
74.0%
Most Correlated Peer (Mk Pr): EVN 78.0%
NAV - Price Correlation (30 d) 35.5%
NAV - Price Correlation (90 d) 68.5%
NAV - Price Correlation (1 Yr) 77.3%
Price St Dev (1Yr) 15.6%
NAV St Dev (1Yr) 7.1%
Earnings
Earnings / Share (12/31/23) $0.025
Earn Coverage 27.18%
Earnings Trend Down
UNII / Share (12/31/23) $-0.628
Rel UNII -190.19
UNII Trend Down
Bond Specific Data
Maturity 22.62
Duration 7.28
Credit Rating (rbo) A
Investment Grade 90.00%
Non Investment Grade 2.00%
Unrated Bonds 8.00%
Average Bond Price 97.44
Discount vs Price -11.40
Coupon 4.95%
Zero Coupon 0.00%
AMT 22.20%
AMT Yield 6.89%
Bond Calls Risk None%
Performance
NAV Beta (2yr)
vs. S&P 500 (TR)
0.61
NAV Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
0.75
NAV Beta (2yr)
vs. CEFA's National Municipal Bond Index
1.03

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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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