Rivernorth Managed Duration Municipal Income Fund Inc. (NYSE:RMM) Shareholders to Collect $0.08 Monthly Dividend

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSE:RMM) declared a monthly dividend on Thursday, October 1st. Shareholders of record on Monday, November 16th will be given a dividend of $0.0847 per share on Monday, November 30th. This represents a $1.02 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend is Monday, November 16th.

Rivernorth Managed Duration Municipal Income Fund Stock Up 0.9%

Shares of Rivernorth Managed Duration Municipal Income Fund stock traded up $0.11 during trading hours on Friday, reaching $12.70. The company’s stock had a trading volume of 5,819 shares, compared to its average volume of 53,012. The stock’s fifty day simple moving average is $13.95 and its two-hundred day simple moving average is $14.22. Rivernorth Managed Duration Municipal Income Fund has a one year low of $12.15 and a one year high of $15.00.

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. It seeks to invest in securities of any maturity. The fund employs a combination of fundamental and quantitative analysis. It benchmarks the performance of its portfolio against the Bloomberg Barclays Municipal Bond Index.