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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Thursday, January 2nd,NASDAQ Dividends reports. Stockholders of record on Wednesday, January 15th will be paid a dividend of 0.0905 per share on Friday, January 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 Wednesday, January 15th.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

Rivernorth Managed Duration Municipal Income Fund stock traded up $0.20 during mid-day trading on Friday, reaching $14.76. The company’s stock had a trading volume of 101,298 shares, compared to its average volume of 87,799. Rivernorth Managed Duration Municipal Income Fund has a twelve month low of $13.97 and a twelve month high of $16.37. The business has a 50 day moving average price of $15.30 and a 200-day moving average price of $15.47.

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.