Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) to Issue Monthly Dividend of $0.09 on June 30th

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Friday, April 4th, Wall Street Journal reports. Stockholders of record on Friday, June 13th will be paid a dividend of 0.0905 per share on Monday, June 30th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 7.82%. The ex-dividend date is Friday, June 13th.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

Shares of RMM stock opened at $13.89 on Friday. The stock’s 50-day moving average price is $14.78 and its 200 day moving average price is $15.18. Rivernorth Managed Duration Municipal Income Fund has a 52-week low of $13.89 and a 52-week high of $16.37.

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.