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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Wednesday, July 3rd, Wall Street Journal reports. Shareholders of record on Monday, July 15th will be given a dividend of 0.0916 per share on Wednesday, July 31st. This represents a $1.10 dividend on an annualized basis and a yield of 7.11%. The ex-dividend date of this dividend is Monday, July 15th.

Rivernorth Managed Duration Municipal Income Fund Trading Up 0.4 %

RMM stock opened at $15.46 on Friday. Rivernorth Managed Duration Municipal Income Fund has a 52-week low of $12.32 and a 52-week high of $15.85. The business has a 50-day simple moving average of $14.90 and a two-hundred day simple moving average of $14.87.

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.