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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Thursday, January 2nd,NASDAQ Dividends reports. Investors of record on Wednesday, January 15th will be given a dividend of 0.0905 per share on Friday, January 31st. This represents a $1.09 annualized dividend and a yield of 7.36%. The ex-dividend date is Wednesday, January 15th.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

Shares of RMM traded up $0.20 during trading hours on Friday, reaching $14.76. 101,298 shares of the company’s stock traded hands, compared to its average volume of 87,799. Rivernorth Managed Duration Municipal Income Fund has a 12 month low of $13.97 and a 12 month high of $16.37. The firm’s 50 day simple moving average is $15.30 and its 200-day simple moving average is $15.47.

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.