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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Friday, January 2nd. Investors of record on Monday, March 16th will be paid a dividend of 0.0847 per share on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 7.1%. The ex-dividend date is Monday, March 16th.

Rivernorth Managed Duration Municipal Income Fund Trading Up 1.2%

Shares of RMM stock opened at $14.41 on Friday. Rivernorth Managed Duration Municipal Income Fund has a twelve month low of $12.55 and a twelve month high of $14.88. The stock has a 50 day moving average of $14.21 and a 200 day moving average of $14.01.

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.