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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Monday, January 6th,Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.0905 per share on Monday, March 31st. This represents a $1.09 annualized dividend and a dividend yield of 7.33%. The ex-dividend date is Friday, March 14th.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

Shares of NYSEARCA RMM opened at $14.81 on Tuesday. The stock’s 50-day moving average is $15.28 and its two-hundred day moving average is $15.48. Rivernorth Managed Duration Municipal Income Fund has a 1-year low of $13.97 and a 1-year high of $16.37.

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.