RiverNorth Managed Duration Municipal Income Fund II, Inc. (RMMZ) to Issue Monthly Dividend of $0.09 on November 30th

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSE:RMMZ) announced a monthly dividend on Thursday, October 1st. Investors of record on Monday, November 16th will be given a dividend of $0.0891 per share on Monday, November 30th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date is Monday, November 16th.

RiverNorth Managed Duration Municipal Income Fund II Stock Up 0.6%

Shares of RMMZ stock opened at $13.25 on Friday. The stock has a fifty day moving average price of $14.34 and a 200 day moving average price of $14.65. RiverNorth Managed Duration Municipal Income Fund II has a 1 year low of $12.77 and a 1 year high of $15.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RMMZ. Wedbush Securities Inc. grew its stake in RiverNorth Managed Duration Municipal Income Fund II by 397.2% in the 2nd quarter. Wedbush Securities Inc. now owns 73,819 shares of the company’s stock valued at $1,095,000 after acquiring an additional 58,972 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new position in RiverNorth Managed Duration Municipal Income Fund II during the fourth quarter worth about $564,000. Gateway Wealth Partners LLC raised its position in RiverNorth Managed Duration Municipal Income Fund II by 120.8% during the first quarter. Gateway Wealth Partners LLC now owns 291,298 shares of the company’s stock worth $4,279,000 after acquiring an additional 159,344 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of RiverNorth Managed Duration Municipal Income Fund II in the second quarter valued at about $98,000. Finally, Rivernorth Capital Management LLC lifted its holdings in shares of RiverNorth Managed Duration Municipal Income Fund II by 62.3% in the second quarter. Rivernorth Capital Management LLC now owns 40,249 shares of the company’s stock valued at $605,000 after purchasing an additional 15,447 shares in the last quarter.