Rivernorth Managed Duration Municipal Income Fund Inc. Declares Monthly Dividend of $0.09 (NYSEARCA:RMM)

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Wednesday, July 3rd, Wall Street Journal reports. Investors of record on Thursday, August 15th will be paid a dividend of 0.0916 per share on Friday, August 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.11%. The ex-dividend date is Thursday, August 15th.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

RMM stock traded up $0.06 during midday trading on Wednesday, hitting $15.46. 46,774 shares of the company’s stock were exchanged, compared to its average volume of 56,301. The stock’s fifty day moving average price is $14.87 and its 200-day moving average price is $14.86. Rivernorth Managed Duration Municipal Income Fund has a one year low of $12.32 and a one year high of $15.85.

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.