Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) Plans $0.08 Monthly Dividend

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM – Get Free Report) announced a monthly dividend on Wednesday, July 1st. Investors of record on Tuesday, September 15th will be paid a dividend of 0.0847 per share on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend is Tuesday, September 15th.

Rivernorth Managed Duration Municipal Income Fund Price Performance

NYSEARCA:RMM opened at $14.86 on Thursday. Rivernorth Managed Duration Municipal Income Fund has a 12 month low of $13.35 and a 12 month high of $14.88. The business’s 50-day moving average is $14.44 and its two-hundred day moving average is $14.19.

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About Rivernorth Managed Duration Municipal Income Fund

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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.

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