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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Wednesday, July 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.0847 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Tuesday, September 15th.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

RMM opened at $14.81 on Thursday. Rivernorth Managed Duration Municipal Income Fund has a 1-year low of $13.35 and a 1-year high of $14.88. The stock’s 50 day simple moving average is $14.44 and its 200 day simple moving average is $14.19.

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.