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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Wednesday, July 1st. Shareholders of record on Friday, August 14th will be paid a dividend of 0.0847 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 6.9%. The ex-dividend date is Friday, August 14th.

Rivernorth Managed Duration Municipal Income Fund Stock Up 0.2%

Rivernorth Managed Duration Municipal Income Fund stock opened at $14.81 on Thursday. Rivernorth Managed Duration Municipal Income Fund has a one year low of $13.35 and a one year high of $14.88. The business has a fifty day moving average price of $14.44 and a 200-day moving average price of $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.