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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Tuesday, October 1st,Wall Street Journal reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.0916 per share on Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.98%. The ex-dividend date of this dividend is Friday, November 15th.

Rivernorth Managed Duration Municipal Income Fund Price Performance

Rivernorth Managed Duration Municipal Income Fund stock traded up $0.17 during midday trading on Thursday, reaching $15.75. The stock had a trading volume of 51,359 shares, compared to its average volume of 51,936. The stock’s 50-day simple moving average is $15.77 and its 200 day simple moving average is $15.37. Rivernorth Managed Duration Municipal Income Fund has a twelve month low of $13.97 and a twelve month 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.