RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ – Get Free Report) announced a monthly dividend on Wednesday, April 1st. Investors of record on Friday, May 15th will be paid a dividend of 0.0891 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Friday, May 15th.
RiverNorth Managed Duration Municipal Income Fund II Stock Up 0.9%
RiverNorth Managed Duration Municipal Income Fund II stock traded up $0.13 during mid-day trading on Wednesday, reaching $15.08. 7,502 shares of the company traded hands, compared to its average volume of 19,858. RiverNorth Managed Duration Municipal Income Fund II has a 52-week low of $13.83 and a 52-week high of $15.29. The firm’s 50 day moving average price is $14.75 and its 200 day moving average price is $14.78.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE bought a new position in shares of RiverNorth Managed Duration Municipal Income Fund II in the 3rd quarter worth about $32,000. Osaic Holdings Inc. grew its holdings in RiverNorth Managed Duration Municipal Income Fund II by 94.2% in the fourth quarter. Osaic Holdings Inc. now owns 12,428 shares of the company’s stock worth $180,000 after purchasing an additional 6,029 shares during the period. Harbour Investments Inc. grew its holdings in RiverNorth Managed Duration Municipal Income Fund II by 34.5% in the fourth quarter. Harbour Investments Inc. now owns 19,500 shares of the company’s stock worth $283,000 after purchasing an additional 5,000 shares during the period. Raymond James Financial Inc. increased its stake in shares of RiverNorth Managed Duration Municipal Income Fund II by 49.8% during the third quarter. Raymond James Financial Inc. now owns 29,330 shares of the company’s stock valued at $440,000 after purchasing an additional 9,749 shares in the last quarter. Finally, Closed End Fund Advisors Inc. purchased a new position in shares of RiverNorth Managed Duration Municipal Income Fund II during the fourth quarter valued at approximately $564,000.
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