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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM – Get Free Report) announced a monthly dividend on Friday, October 4th, Wall Street Journal reports. Investors of record on Friday, December 13th will be given 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

NYSEARCA:RMM opened at $15.91 on Friday. The firm has a 50-day moving average price of $15.65 and a two-hundred day moving average price of $15.20. Rivernorth Managed Duration Municipal Income Fund has a twelve month low of $12.32 and a twelve month high of $16.37.

About Rivernorth Managed Duration Municipal Income Fund

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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.

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