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) announced a monthly dividend on Friday, January 3rd, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid 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 7.45%. The ex-dividend date is Friday, March 14th.

Rivernorth Managed Duration Municipal Income Fund Price Performance

Shares of NYSEARCA RMM opened at $14.57 on Wednesday. Rivernorth Managed Duration Municipal Income Fund has a 1 year low of $14.35 and a 1 year high of $16.37. The firm has a 50-day moving average of $14.93 and a 200 day moving average of $15.34.

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.