RiverNorth Managed Duration Municipal Income Fund, Inc. (NYSEARCA:RMM) announced a monthly dividend on Thursday, July 9th, Wall Street Journal reports. Investors of record on Friday, August 14th will be paid a dividend of 0.0917 per share on Monday, August 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.35%. The ex-dividend date is Thursday, August 13th.
Shares of RMM stock opened at $17.32 on Friday. RiverNorth Managed Duration Municipal Income Fund has a 52-week low of $12.26 and a 52-week high of $21.32. The stock has a 50 day moving average price of $17.18 and a 200 day moving average price of $18.31.
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.
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