Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) To Go Ex-Dividend on September 15th

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Wednesday, July 1st. Investors of record on Tuesday, September 15th will be given a dividend of 0.0847 per share on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend is Tuesday, September 15th.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

Shares of RMM opened at $14.87 on Friday. The firm has a 50 day simple moving average of $14.45 and a two-hundred day simple moving average of $14.20. Rivernorth Managed Duration Municipal Income Fund has a one year low of $13.35 and a one year high of $14.98.

Hedge Funds Weigh In On Rivernorth Managed Duration Municipal Income Fund

Institutional investors have recently modified their holdings of the business. Advocate Investing Services LLC acquired a new stake in Rivernorth Managed Duration Municipal Income Fund in the fourth quarter valued at about $34,000. Advisory Services Network LLC acquired a new position in Rivernorth Managed Duration Municipal Income Fund during the third quarter worth about $62,000. Kestra Advisory Services LLC bought a new position in shares of Rivernorth Managed Duration Municipal Income Fund in the fourth quarter worth about $67,000. EverSource Wealth Advisors LLC bought a new position in shares of Rivernorth Managed Duration Municipal Income Fund in the third quarter worth about $71,000. Finally, Fifth Third Bancorp acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund in the 1st quarter valued at approximately $82,000.

About Rivernorth Managed Duration Municipal Income Fund

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.