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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Wednesday, July 1st. Investors of record on Friday, October 16th will be given a dividend of 0.0847 per share on Friday, October 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Friday, October 16th.

Rivernorth Managed Duration Municipal Income Fund Trading Up 0.3%

Shares of NYSEARCA RMM opened at $14.86 on Thursday. The firm’s 50-day moving average price is $14.44 and its 200-day moving average price is $14.19. Rivernorth Managed Duration Municipal Income Fund has a 1-year low of $13.35 and a 1-year high of $14.88.

Institutional Investors Weigh In On Rivernorth Managed Duration Municipal Income Fund

Hedge funds have recently added to or reduced their stakes in the company. Advocate Investing Services LLC bought a new stake in shares of Rivernorth Managed Duration Municipal Income Fund during the fourth quarter valued at approximately $34,000. Advisory Services Network LLC bought a new stake in Rivernorth Managed Duration Municipal Income Fund during the 3rd quarter valued at $62,000. Kestra Advisory Services LLC acquired a new position in Rivernorth Managed Duration Municipal Income Fund during the fourth quarter worth $67,000. EverSource Wealth Advisors LLC acquired a new position in Rivernorth Managed Duration Municipal Income Fund during the third quarter worth $71,000. Finally, Fifth Third Bancorp bought a new position in shares of Rivernorth Managed Duration Municipal Income Fund in the first quarter valued at $82,000.

About Rivernorth Managed Duration Municipal Income Fund

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.