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 Wednesday, July 1st. Investors of record on Wednesday, July 15th will be given a dividend of 0.0847 per share on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Wednesday, July 15th.

Rivernorth Managed Duration Municipal Income Fund Trading Up 0.8%

NYSEARCA RMM traded up $0.12 on Thursday, reaching $14.93. 3,636 shares of the company’s stock traded hands, compared to its average volume of 52,198. Rivernorth Managed Duration Municipal Income Fund has a fifty-two week low of $13.35 and a fifty-two week high of $14.88. The stock has a 50 day moving average price of $14.44 and a 200-day moving average price of $14.19.

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.