Ladenburg Thalmann Financial Services Inc. Trims Stake in Guggenheim Taxabl Mncpl Mngd Drtn Trst (NYSE:GBAB)

Ladenburg Thalmann Financial Services Inc. lowered its stake in shares of Guggenheim Taxabl Mncpl Mngd Drtn Trst (NYSE:GBAB) by 14.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 16,725 shares of the investment management company’s stock after selling 2,903 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Guggenheim Taxabl Mncpl Mngd Drtn Trst were worth $402,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Trust N.A. purchased a new stake in shares of Guggenheim Taxabl Mncpl Mngd Drtn Trst during the second quarter valued at approximately $588,000. Commonwealth Equity Services LLC lifted its position in Guggenheim Taxabl Mncpl Mngd Drtn Trst by 5.8% during the second quarter. Commonwealth Equity Services LLC now owns 14,618 shares of the investment management company’s stock valued at $350,000 after purchasing an additional 800 shares during the period. Busey Wealth Management lifted its position in Guggenheim Taxabl Mncpl Mngd Drtn Trst by 42.1% during the second quarter. Busey Wealth Management now owns 16,870 shares of the investment management company’s stock valued at $405,000 after purchasing an additional 5,000 shares during the period. Steward Partners Investment Advisory LLC bought a new position in Guggenheim Taxabl Mncpl Mngd Drtn Trst during the second quarter valued at approximately $36,000. Finally, Janney Montgomery Scott LLC lifted its position in Guggenheim Taxabl Mncpl Mngd Drtn Trst by 0.9% during the second quarter. Janney Montgomery Scott LLC now owns 50,612 shares of the investment management company’s stock valued at $1,214,000 after purchasing an additional 440 shares during the period.

GBAB opened at $24.60 on Wednesday. Guggenheim Taxabl Mncpl Mngd Drtn Trst has a 1-year low of $19.91 and a 1-year high of $25.58. The firm’s 50 day simple moving average is $24.53 and its two-hundred day simple moving average is $23.85.

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be given a $0.126 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.51 annualized dividend and a yield of 6.15%.

About Guggenheim Taxabl Mncpl Mngd Drtn Trst

Guggenheim Taxable Municipal Managed Duration Trust is a closed ended fixed income mutual fund launched by Guggenheim Partners, LLC. The fund is co-managed by Guggenheim Funds Investment Advisors, LLC and Guggenheim Partners Investment Management, LLC. It invests in fixed income markets of the United States.

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Institutional Ownership by Quarter for Guggenheim Taxabl Mncpl Mngd Drtn Trst (NYSE:GBAB)

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