RiverNorth Managed Duration Municipal Income Fund II (NYSEARCA:RMMZ) Stock Price Up 0.1% – Here’s Why

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ)’s stock price shot up 0.1% during trading on Monday . The company traded as high as $14.81 and last traded at $14.76. 13,832 shares were traded during mid-day trading, a decline of 36% from the average session volume of 21,622 shares. The stock had previously closed at $14.74.

RiverNorth Managed Duration Municipal Income Fund II Trading Up 0.2%

The firm has a fifty day simple moving average of $14.78 and a two-hundred day simple moving average of $14.80.

RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.0891 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a yield of 7.2%.

Institutional Investors Weigh In On RiverNorth Managed Duration Municipal Income Fund II

Several institutional investors have recently added to or reduced their stakes in RMMZ. Gateway Wealth Partners LLC purchased a new stake in RiverNorth Managed Duration Municipal Income Fund II during the third quarter valued at about $1,827,000. Closed End Fund Advisors Inc. purchased a new stake in RiverNorth Managed Duration Municipal Income Fund II during the fourth quarter valued at about $564,000. Royal Bank of Canada lifted its holdings in RiverNorth Managed Duration Municipal Income Fund II by 11.9% during the fourth quarter. Royal Bank of Canada now owns 192,533 shares of the company’s stock valued at $2,796,000 after purchasing an additional 20,473 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in RiverNorth Managed Duration Municipal Income Fund II by 21.0% during the third quarter. Oppenheimer & Co. Inc. now owns 59,906 shares of the company’s stock valued at $899,000 after purchasing an additional 10,407 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in 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 during the last quarter.