Rivernorth Managed Duration Municipal Income Fund Inc. (RMM) to Issue Monthly Dividend of $0.09 on December 31st

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) announced a monthly dividend on Friday, October 4th, Wall Street Journal reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.0916 per share on Tuesday, December 31st. This represents a $1.10 annualized dividend and a dividend yield of 6.91%. The ex-dividend date of this dividend is Friday, December 13th.

Rivernorth Managed Duration Municipal Income Fund Stock Performance

Shares of RMM stock opened at $15.91 on Friday. The stock’s 50-day moving average price is $15.65 and its 200 day moving average price is $15.20. Rivernorth Managed Duration Municipal Income Fund has a 52-week low of $12.32 and a 52-week 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.