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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Thursday, October 3rd, Wall Street Journal reports. Stockholders 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 6.88%. The ex-dividend date of this dividend is Friday, November 15th.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

NYSEARCA RMM traded down $0.30 on Thursday, reaching $15.97. The stock had a trading volume of 57,812 shares, compared to its average volume of 51,899. The firm has a fifty day moving average of $15.63 and a two-hundred day moving average of $15.19. Rivernorth Managed Duration Municipal Income Fund has a 1-year low of $12.32 and a 1-year 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.