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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Wednesday, July 1st. Shareholders of record on Friday, October 16th will be paid a dividend of 0.0847 per share on Friday, October 30th. This represents a c) dividend on an annualized basis and a yield of 6.9%. The ex-dividend date is Friday, October 16th.

Rivernorth Managed Duration Municipal Income Fund Price Performance

Shares of NYSEARCA RMM opened at $14.81 on Thursday. The business has a 50 day simple moving average of $14.44 and a 200 day simple moving average of $14.19. Rivernorth Managed Duration Municipal Income Fund has a 52 week low of $13.35 and a 52 week high of $14.88.

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.