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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Thursday, April 3rd, Wall Street Journal reports. Investors of record on Friday, June 13th will be given a dividend of 0.0905 per share on Monday, June 30th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 7.55%. The ex-dividend date is Friday, June 13th.

Rivernorth Managed Duration Municipal Income Fund Stock Up 0.4 %

Shares of NYSEARCA RMM opened at $14.39 on Friday. Rivernorth Managed Duration Municipal Income Fund has a 1 year low of $14.21 and a 1 year high of $16.37. The stock has a fifty day moving average price of $14.80 and a two-hundred day moving average price of $15.20.

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.