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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Friday, January 3rd,Wall Street Journal reports. Shareholders 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 annualized dividend and a dividend yield of 7.36%. The ex-dividend date of this dividend is Friday, March 14th.

Rivernorth Managed Duration Municipal Income Fund Stock Up 1.4 %

Shares of Rivernorth Managed Duration Municipal Income Fund stock traded up $0.20 on Friday, hitting $14.76. The stock had a trading volume of 101,298 shares, compared to its average volume of 87,799. Rivernorth Managed Duration Municipal Income Fund has a 52-week low of $13.97 and a 52-week high of $16.37. The company’s 50 day moving average price is $15.30 and its 200 day moving average price is $15.47.

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.