RiverNorth Managed Duration Municipal Income Fund II, Inc. to Issue Monthly Dividend of $0.09 (NYSEARCA:RMMZ)

by · The Markets Daily

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ – Get Free Report) announced a monthly dividend on Friday, January 2nd. Investors of record on Friday, February 13th will be given a dividend of 0.0891 per share on Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Friday, February 13th.

RiverNorth Managed Duration Municipal Income Fund II Price Performance

RMMZ stock remained flat at $15.10 during midday trading on Wednesday. The company had a trading volume of 8,190 shares, compared to its average volume of 25,121. The business has a fifty day moving average of $14.71 and a 200-day moving average of $14.74. RiverNorth Managed Duration Municipal Income Fund II has a 12-month low of $13.79 and a 12-month high of $15.99.

Insider Buying and Selling at RiverNorth Managed Duration Municipal Income Fund II

In related news, Portfolio Manager Robert A. Dimella sold 10,060 shares of RiverNorth Managed Duration Municipal Income Fund II stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $14.98, for a total value of $150,698.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of RiverNorth Managed Duration Municipal Income Fund II

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE bought a new position in RiverNorth Managed Duration Municipal Income Fund II in the 3rd quarter worth approximately $32,000. Harbour Investments Inc. lifted its stake in shares of RiverNorth Managed Duration Municipal Income Fund II by 450.0% during the second quarter. Harbour Investments Inc. now owns 11,000 shares of the company’s stock valued at $155,000 after acquiring an additional 9,000 shares during the period. Raymond James Financial Inc. boosted its holdings in RiverNorth Managed Duration Municipal Income Fund II by 49.8% in the third quarter. Raymond James Financial Inc. now owns 29,330 shares of the company’s stock valued at $440,000 after acquiring an additional 9,749 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new stake in RiverNorth Managed Duration Municipal Income Fund II in the fourth quarter worth about $564,000. Finally, Oppenheimer & Co. Inc. raised its holdings in RiverNorth Managed Duration Municipal Income Fund II by 21.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 59,906 shares of the company’s stock worth $899,000 after purchasing an additional 10,407 shares during the last quarter.

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