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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Friday, January 2nd. Stockholders of record on Thursday, January 15th will be paid a dividend of 0.0847 per share on Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Thursday, January 15th.

Rivernorth Managed Duration Municipal Income Fund Stock Up 0.0%

Shares of NYSEARCA RMM traded up $0.01 during midday trading on Tuesday, reaching $14.01. The company’s stock had a trading volume of 2,473 shares, compared to its average volume of 72,875. The company has a 50 day moving average price of $13.88 and a 200 day moving average price of $13.84. Rivernorth Managed Duration Municipal Income Fund has a one year low of $12.55 and a one year high of $15.23.

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.