Rivernorth Managed Duration Municipal Income Fund Inc. (NYSE:RMM) to Issue Monthly Dividend of $0.08

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSE:RMM) declared a monthly dividend on Thursday, October 1st. Shareholders of record on Monday, November 16th will be given a dividend of $0.0847 per share on Monday, November 30th. This represents a $1.02 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend is Monday, November 16th.

Rivernorth Managed Duration Municipal Income Fund Stock Up 0.9%

Shares of RMM stock traded up $0.11 on Friday, hitting $12.70. 5,819 shares of the stock were exchanged, compared to its average volume of 53,012. Rivernorth Managed Duration Municipal Income Fund has a fifty-two week low of $12.15 and a fifty-two week high of $15.00. The business has a 50-day moving average of $13.95 and a 200 day moving average of $14.22.

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.