4/A: RiverNorth Managed Duration Municipal Income Fund Director Purchases Additional Shares

Patrick W. Galley, a Director and President of RiverNorth Managed Duration Municipal Income Fund, Inc., reports purchasing additional shares of common stock through a trust account.

Summary

• On April 8, 2025, Patrick W. Galley, a Director and President of RiverNorth Managed Duration Municipal Income Fund, Inc. (RMM), purchased 2,000 shares of common stock at $13.11, 2,000 shares at $13.16, and 2,000 shares at $13.18.
• These purchases were made through a trust account.
• Following these transactions, Mr. Galley indirectly owns 11,000 shares through the trust account.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. Insider buying is generally viewed favorably, but the scale of the purchase is not significant enough to drastically alter sentiment.

Positives

• A director's purchase of company stock can be seen as a positive signal, indicating confidence in the company's future prospects.

Industry Context

Insider buying is often monitored by investors as an indicator of management's confidence in the company's prospects. It's a common practice and is regulated to prevent illegal insider trading.

Key Dates

Keywords

RiverNorth Managed Duration Municipal Income Fund, RMM, Patrick W. Galley, insider trading, beneficial ownership, Form 4, common stock, purchase