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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Thursday, January 2nd,NASDAQ Dividends reports. Investors of record on Wednesday, January 15th will be paid a dividend of 0.0905 per share on Friday, January 31st. This represents a $1.09 annualized dividend and a dividend yield of 7.36%. The ex-dividend date is Wednesday, January 15th.

Rivernorth Managed Duration Municipal Income Fund Trading Up 1.4 %

RMM traded up $0.20 during trading on Friday, hitting $14.76. 101,298 shares of the stock traded hands, compared to its average volume of 87,799. Rivernorth Managed Duration Municipal Income Fund has a 12-month low of $13.97 and a 12-month high of $16.37. The firm has a 50-day moving average of $15.30 and a 200 day moving average of $15.47.

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.