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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a dividend on Tuesday, May 13th, investing.com reports. Investors of record on Friday, May 16th will be given a dividend of 0.0905 per share on Friday, May 30th. This represents a yield of 7.74%. The ex-dividend date is Thursday, May 15th.

Rivernorth Managed Duration Municipal Income Fund Trading Up 0.1%

NYSEARCA RMM traded up $0.01 during trading hours on Tuesday, hitting $14.04. 356 shares of the stock were exchanged, compared to its average volume of 58,883. Rivernorth Managed Duration Municipal Income Fund has a 12-month low of $12.55 and a 12-month high of $16.37. The stock has a 50-day moving average of $13.88 and a 200 day moving average of $14.70.

Insider Buying and Selling at Rivernorth Managed Duration Municipal Income Fund

In other Rivernorth Managed Duration Municipal Income Fund news, President Patrick W. Galley acquired 4,000 shares of Rivernorth Managed Duration Municipal Income Fund stock in a transaction dated Wednesday, April 9th. The stock was purchased at an average cost of $13.14 per share, for a total transaction of $52,560.00. Following the completion of the acquisition, the president now directly owns 15,000 shares of the company’s stock, valued at $197,100. This represents a 36.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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.