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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Friday, January 2nd. Stockholders of record on Monday, March 16th will be paid a dividend of 0.0847 per share on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Monday, March 16th.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

Shares of Rivernorth Managed Duration Municipal Income Fund stock opened at $14.41 on Friday. The company has a fifty day simple moving average of $14.21 and a 200-day simple moving average of $14.01. Rivernorth Managed Duration Municipal Income Fund has a 12-month low of $12.55 and a 12-month high of $14.88.

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. 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.