Rivernorth Managed Duration Municipal Income Fund Inc. to Issue Monthly Dividend of $0.08 (NYSEARCA:RMM)

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Wednesday, April 1st. Investors of record on Friday, May 15th will be paid a dividend of 0.0847 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Friday, May 15th.

Rivernorth Managed Duration Municipal Income Fund Price Performance

NYSEARCA RMM traded down $0.03 during trading on Wednesday, hitting $14.43. 4,388 shares of the company’s stock traded hands, compared to its average volume of 56,583. Rivernorth Managed Duration Municipal Income Fund has a 12-month low of $13.28 and a 12-month high of $14.88. The business has a 50 day moving average of $14.14 and a 200-day moving average of $14.06.

Rivernorth Managed Duration Municipal Income Fund Company Profile

Rivernorth Managed Duration Municipal Income Fund Inc is a closed ended fixed income mutual fund launched and managed by RiverNorth Capital Management, LLC. The fund is co-managed by MacKay Shields LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal debt securities. It seeks to invest in securities of any maturity. The fund employs a combination of fundamental and quantitative analysis. It benchmarks the performance of its portfolio against the Bloomberg Barclays Municipal Bond Index.