Is RiverNorth Managed Duration Municipal Income Fund Inc halal to invest in?

According to Musaffa's Shariah screening methodology, RiverNorth Managed Duration Municipal Income Fund Inc (RMM) is currently classified as NOT HALAL as of April 2026. The classification is based on an evaluation of the company's business activities and financial ratios to determine whether it meets Islamic investment guidelines.

Is RiverNorth Managed Duration Municipal Income Fund Inc a Shariah-compliant stock?

A stock is Shariah-compliant if the company operates in permissible business activities and meets Islamic financial screening thresholds. Musaffa analyzes RiverNorth Managed Duration Municipal Income Fund Inc using these criteria to determine its compliance status.

Can Muslims buy shares of RiverNorth Managed Duration Municipal Income Fund Inc?

Muslim investors may consider investing in RiverNorth Managed Duration Municipal Income Fund Inc if it meets Shariah compliance standards. Investors typically review the company's business activities, debt levels, and non-permissible income before making a decision.

Why is RiverNorth Managed Duration Municipal Income Fund Inc classified as NOT HALAL?

Musaffa determines the Shariah status of RiverNorth Managed Duration Municipal Income Fund Inc by analyzing whether the company's core business operations are permissible and whether its financial ratios fall within accepted Islamic thresholds.

How often is the Shariah compliance for RiverNorth Managed Duration Municipal Income Fund Inc updated?

The Shariah compliance status of RiverNorth Managed Duration Municipal Income Fund Inc may be updated periodically when new financial statements, earnings reports, or business activity information become available.

Where can I check the Shariah status of RiverNorth Managed Duration Municipal Income Fund Inc?

You can check the latest Shariah compliance status of RiverNorth Managed Duration Municipal Income Fund Inc on Musaffa's stock page, where screening results and key financial indicators are updated to help Muslim investors make informed decisions.

RMM Shariah Compliance

Screening Methodology: AAOIFI

NOT HALAL

Last Updated: April 17, 2026

Report Source: 2026 2nd Quarter Report

RiverNorth Managed Duration Municipal Income Fund Inc. Stock Analysis RMM

Q: Can a halal stock like RiverNorth Managed Duration Municipal Income Fund Inc become non-compliant?

Yes. A stock that is currently Shariah-compliant may become non-compliant if the company's financial ratios exceed Shariah thresholds or its business activities change.

United States N/A Micro Cap Report: Q2, 2026

RiverNorth Managed Duration Municipal Income Fund Inc is a US-based company operating in industry. The company is headquartered in West Palm Beach, Florida. The company went IPO on 2019-07-26. RiverNorth Managed Duration Municipal Income Fund, Inc. (the Fund) is a diversified, closed-end management investment company. The Fund’s primary investment objective is to seek current income exempt from regular U.S. federal income taxes. The Fund’s secondary investment objective is total return. The Fund’s investment strategy includes Tactical Municipal Closed-End Fund (CEF) Strategy and Municipal Bond Income Strategy. The Tactical Municipal CEF Strategy typically invests in municipal CEFs and exchange-traded funds (ETFs) and other investment companies. The Municipal Bond Income Strategy primarily invests in municipal debt securities of any credit quality, including securities that are rated below investment grade. The Fund’s investment adviser is RiverNorth Capital Management, LLC and the Fund’s sub-adviser is MacKay Shields, LLC.

Key Statistics of RiverNorth Managed Duration Municipal Income Fund Inc (RMM)

Key statistics in the stock market are essential financial indicators that measure a company's performance, valuation, profitability, and risk.

Today's Range

$14.30$14.45

Today's Open

$14.43

Volume

23.01K

P/E Ratio (TTM)

52 Week Range

$13.28$14.88

Market Cap

285.83M

Avg. Volume

39.31K

Dividend Yield

6.98%

Financial Metrics & Statements of RiverNorth Managed Duration Municipal Income Fund Inc (RMM)

FAQ's for RiverNorth Managed Duration Municipal Income Fund Inc (RMM)

According to Musaffa’s Shariah screening methodology, RiverNorth Managed Duration Municipal Income Fund Inc (RMM) is currently classified as NOT HALAL as of April 2026. The classification is based on an evaluation of the company’s business activities and financial ratios to determine whether it meets Islamic investment guidelines.