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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Tuesday, October 1st, NASDAQ reports. Stockholders of record on Tuesday, October 15th will be paid a dividend of 0.0916 per share on Thursday, October 31st. 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 Tuesday, October 15th.

Rivernorth Managed Duration Municipal Income Fund Trading Down 1.8 %

NYSEARCA:RMM traded down $0.30 during midday trading on Thursday, reaching $15.97. 62,139 shares of the stock traded hands, compared to its average volume of 51,922. The company has a fifty day moving average of $15.63 and a 200 day moving average of $15.19. Rivernorth Managed Duration Municipal Income Fund has a 12 month low of $12.32 and a 12 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.