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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Wednesday, July 1st. Shareholders of record on Wednesday, July 15th will be paid a dividend of 0.0847 per share on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Wednesday, July 15th.

Rivernorth Managed Duration Municipal Income Fund Trading Up 0.8%

NYSEARCA:RMM traded up $0.12 during mid-day trading on Thursday, hitting $14.93. The company had a trading volume of 19,683 shares, compared to its average volume of 52,198. The business’s fifty day moving average is $14.44 and its two-hundred day moving average is $14.19. Rivernorth Managed Duration Municipal Income Fund has a fifty-two week low of $13.35 and a fifty-two week high of $14.98.

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.