Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) to Issue Monthly Dividend of $0.08 on August 31st

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Wednesday, July 1st. Investors of record on Friday, August 14th will be given a dividend of 0.0847 per share on Monday, August 31st. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, August 14th.

Rivernorth Managed Duration Municipal Income Fund Price Performance

Shares of NYSEARCA:RMM opened at $14.56 on Wednesday. The firm has a fifty day moving average price of $14.60 and a two-hundred day moving average price of $14.36. Rivernorth Managed Duration Municipal Income Fund has a one year low of $13.35 and a one year high of $15.00.

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.