RiverNorth Managed Duration Municipal Income Fund II, Inc. (RMMZ) to Distribute Monthly Dividend of $0.09 on December 31st

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSE:RMMZ) declared a monthly dividend on Thursday, October 1st. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.0891 per share on Thursday, December 31st. This represents a $1.07 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend is Tuesday, December 15th.

RiverNorth Managed Duration Municipal Income Fund II Stock Up 0.6%

RiverNorth Managed Duration Municipal Income Fund II stock opened at $13.25 on Friday. RiverNorth Managed Duration Municipal Income Fund II has a 12 month low of $12.77 and a 12 month high of $15.29. The business has a 50 day moving average price of $14.34 and a two-hundred day moving average price of $14.65.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMMZ. Gateway Wealth Partners LLC boosted its holdings 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 valued at $4,279,000 after purchasing an additional 159,344 shares in the last quarter. Royal Bank of Canada lifted its position 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 worth $2,940,000 after buying an additional 7,598 shares during the period. Wedbush Securities Inc. grew its position in RiverNorth Managed Duration Municipal Income Fund II by 397.2% in the second 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 lifted its holdings in shares of RiverNorth Managed Duration Municipal Income Fund II by 62.3% during the second quarter. Rivernorth Capital Management LLC now owns 40,249 shares of the company’s stock valued at $605,000 after acquiring an additional 15,447 shares during the period. Finally, Closed End Fund Advisors Inc. bought a new position in RiverNorth Managed Duration Municipal Income Fund II during the 4th quarter valued at about $564,000.