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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Thursday, July 4th, Wall Street Journal reports. Stockholders of record on Thursday, August 15th will be paid a dividend of 0.0916 per share on Friday, August 30th. This represents a $1.10 annualized dividend and a dividend yield of 7.11%. The ex-dividend date is Thursday, August 15th.

Rivernorth Managed Duration Municipal Income Fund Trading Up 0.4 %

RMM stock traded up $0.06 during midday trading on Thursday, reaching $15.46. The stock had a trading volume of 46,774 shares, compared to its average volume of 56,301. Rivernorth Managed Duration Municipal Income Fund has a 52-week low of $12.32 and a 52-week high of $15.85. The company’s fifty day simple moving average is $14.89 and its 200 day simple moving average is $14.86.

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.