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

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Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Monday, January 4th, NASDAQ reports. Stockholders of record on Friday, January 15th will be given a dividend of 0.092 per share on Friday, January 29th. This represents a $1.10 annualized dividend and a dividend yield of 6.18%. The ex-dividend date is Thursday, January 14th.

Shares of RMM traded up $0.04 during trading hours on Wednesday, hitting $17.86. The stock had a trading volume of 94,370 shares, compared to its average volume of 55,923. The firm has a 50 day simple moving average of $17.64 and a 200-day simple moving average of $17.25. Rivernorth Managed Duration Municipal Income Fund has a 1-year low of $12.26 and a 1-year high of $21.32.

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.

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