RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSE:RMMZ) Sees Large Growth in Short Interest

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSE:RMMZ) saw a significant increase in short interest in September. As of September 30th, there was short interest totaling 20,243 shares, an increase of 71.9% from the September 15th total of 11,776 shares. Based on an average trading volume of 32,306 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gateway Wealth Partners LLC boosted its position in shares of 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 valued at $4,279,000 after purchasing an additional 159,344 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of RiverNorth Managed Duration Municipal Income Fund II by 3.9% during the 1st quarter. Royal Bank of Canada now owns 200,131 shares of the company’s stock valued at $2,940,000 after buying an additional 7,598 shares in the last quarter. Wedbush Securities Inc. lifted its position in RiverNorth Managed Duration Municipal Income Fund II by 397.2% during 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 period. Rivernorth Capital Management LLC grew its holdings in 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 worth $605,000 after purchasing an additional 15,447 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in RiverNorth Managed Duration Municipal Income Fund II in the second quarter worth about $98,000.

RiverNorth Managed Duration Municipal Income Fund II Stock Up 0.8%

RiverNorth Managed Duration Municipal Income Fund II stock traded up $0.10 during mid-day trading on Friday, reaching $13.51. 8,552 shares of the company traded hands, compared to its average volume of 19,561. RiverNorth Managed Duration Municipal Income Fund II has a 52-week low of $12.77 and a 52-week high of $15.29. The firm’s 50 day moving average price is $14.07 and its 200 day moving average price is $14.57.

RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.0891 per share. This represents a $1.07 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend is Tuesday, December 15th.