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

Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) declared a monthly dividend on Tuesday, October 5th, Wall Street Journal reports. Shareholders of record on Friday, October 15th will be given a dividend of 0.0917 per share on Friday, October 29th. This represents a $1.10 annualized dividend and a yield of 5.58%. The ex-dividend date of this dividend is Thursday, October 14th.

NYSEARCA RMM opened at $19.71 on Wednesday. Rivernorth Managed Duration Municipal Income Fund has a twelve month low of $16.51 and a twelve month high of $21.97. The firm’s 50 day moving average price is $20.84 and its two-hundred day moving average price is $20.38.

An institutional investor recently raised its position in Rivernorth Managed Duration Municipal Income Fund stock. Bank of America Corp DE grew its stake in shares of Rivernorth Managed Duration Municipal Income Fund Inc. (NYSEARCA:RMM) by 103.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,845 shares of the company’s stock after acquiring an additional 1,445 shares during the period. Bank of America Corp DE’s holdings in Rivernorth Managed Duration Municipal Income Fund were worth $58,000 as of its most recent SEC filing.

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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Dividend History for Rivernorth Managed Duration Municipal Income Fund (NYSEARCA:RMM)

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