Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) to Issue Monthly Dividend of $0.08 on May 29th

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Wednesday, April 1st. Investors of record on Friday, May 15th will be given a dividend of 0.0847 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Friday, May 15th.

Rivernorth Managed Duration Municipal Income Fund Trading Down 0.3%

Rivernorth Managed Duration Municipal Income Fund stock traded down $0.04 during mid-day trading on Wednesday, hitting $14.42. The company’s stock had a trading volume of 6,038 shares, compared to its average volume of 56,588. The stock’s fifty day moving average is $14.14 and its two-hundred day moving average is $14.06. Rivernorth Managed Duration Municipal Income Fund has a 1 year low of $13.28 and a 1 year high of $14.88.

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. 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.