Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) To Go Ex-Dividend on January 15th

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Friday, January 2nd. Investors of record on Thursday, January 15th will be given a dividend of 0.0847 per share on Friday, January 30th. This represents a c) annualized dividend and a yield of 7.2%. The ex-dividend date is Thursday, January 15th.

Rivernorth Managed Duration Municipal Income Fund Stock Up 0.3%

NYSEARCA RMM traded up $0.04 during trading hours on Tuesday, hitting $14.04. 9,296 shares of the company’s stock traded hands, compared to its average volume of 73,536. The firm’s 50-day moving average is $13.88 and its 200-day moving average is $13.84. Rivernorth Managed Duration Municipal Income Fund has a 52-week low of $12.55 and a 52-week high of $15.23.

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.