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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Wednesday, July 1st. Investors of record on Wednesday, July 15th will be paid a dividend of 0.0847 per share on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Wednesday, July 15th.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

NYSEARCA RMM traded up $0.12 during mid-day trading on Thursday, reaching $14.93. 3,636 shares of the stock were exchanged, compared to its average volume of 52,198. The business’s 50 day moving average is $14.44 and its 200-day moving average is $14.19. Rivernorth Managed Duration Municipal Income Fund has a 1 year low of $13.35 and a 1 year high of $14.88.

Institutional Investors Weigh In On Rivernorth Managed Duration Municipal Income Fund

Several hedge funds have recently modified their holdings of RMM. Advocate Investing Services LLC acquired a new stake in shares of Rivernorth Managed Duration Municipal Income Fund during the 4th quarter valued at about $34,000. Advisory Services Network LLC acquired a new position in Rivernorth Managed Duration Municipal Income Fund in the 3rd quarter worth about $62,000. Kestra Advisory Services LLC acquired a new position in Rivernorth Managed Duration Municipal Income Fund in the 4th quarter worth about $67,000. EverSource Wealth Advisors LLC acquired a new position in Rivernorth Managed Duration Municipal Income Fund in the 3rd quarter worth about $71,000. Finally, Fifth Third Bancorp purchased a new position in Rivernorth Managed Duration Municipal Income Fund during the first quarter worth approximately $82,000.

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.