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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Monday, January 6th,Wall Street Journal reports. Investors of record on Friday, March 14th will be given a dividend of 0.0905 per share on Monday, March 31st. This represents a $1.09 annualized dividend and a dividend yield of 7.34%. The ex-dividend date is Friday, March 14th.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

Shares of NYSEARCA:RMM opened at $14.80 on Wednesday. Rivernorth Managed Duration Municipal Income Fund has a 12-month low of $13.97 and a 12-month high of $16.37. The company’s 50 day moving average price is $15.26 and its two-hundred day moving average price is $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.