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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSE:RMM) announced a monthly dividend on Thursday, October 1st. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.0847 per share on Thursday, December 31st. This represents a $1.02 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend is Tuesday, December 15th.

Rivernorth Managed Duration Municipal Income Fund Trading Up 0.9%

Shares of NYSE:RMM traded up $0.11 during trading on Friday, reaching $12.70. 5,819 shares of the company traded hands, compared to its average volume of 53,012. The firm has a fifty day simple moving average of $13.95 and a 200 day simple moving average of $14.22. Rivernorth Managed Duration Municipal Income Fund has a 1-year low of $12.15 and a 1-year high of $15.00.

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.