Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) To Go Ex-Dividend on June 15th

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Wednesday, April 1st. Investors of record on Monday, June 15th will be given a dividend of 0.0847 per share on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Monday, June 15th.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

NYSEARCA RMM remained flat at $14.60 during mid-day trading on Friday. 66,830 shares of the company traded hands, compared to its average volume of 54,052. The firm’s fifty day moving average price is $14.31 and its 200 day moving average price is $14.12. Rivernorth Managed Duration Municipal Income Fund has a twelve month low of $13.28 and a twelve month 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.