Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) to Issue Monthly Dividend of $0.09 on March 31st

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Friday, January 3rd,Wall Street Journal reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.0905 per share on Monday, March 31st. This represents a $1.09 dividend on an annualized basis and a dividend yield of 7.36%. The ex-dividend date of this dividend is Friday, March 14th.

Rivernorth Managed Duration Municipal Income Fund Stock Up 1.4 %

Rivernorth Managed Duration Municipal Income Fund stock opened at $14.76 on Friday. The firm’s 50 day simple moving average is $15.29 and its 200 day simple moving average is $15.48. Rivernorth Managed Duration Municipal Income Fund has a 1-year low of $13.97 and a 1-year high of $16.37.

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.