RMMZ - RMM: A Hybrid Approach To Muni Bonds With A Trading Strategy
2024-07-16 04:51:00 ET
Summary
- RiverNorth Managed Duration Municipal Income Fund is a muni bond-focused fund managed by RiverNorth and MacKay Shields.
- A swap to RiverNorth Flexible Municipal Income Fund II based on relative valuations has worked well, and there could be more potential room for this to play out.
- RMM offers a managed 6.75% distribution based on year-end NAV, and that payout will need to be supported with capital gains and/or return of capital.
Written by Nick Ackerman, co-produced by Stanford Chemist.
RiverNorth Managed Duration Municipal Income Fund ( RMM ) is one of several RiverNorth municipal bond-focused funds. These all work quite similarly, with RiverNorth as the manager of the muni closed-end fund sleeve, while MacKay Shields manages the other sleeve of individual underlying municipal bond holdings....
RMM: A Hybrid Approach To Muni Bonds With A Trading Strategy