RiverNorth Managed Duration Municipal Income Fund II (NYSEARCA:RMMZ) Stock Price Down 1.5% – Should You Sell?

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ)’s stock price was down 1.5% on Wednesday . The stock traded as low as $14.78 and last traded at $14.80. Approximately 26,364 shares changed hands during trading, an increase of 8% from the average daily volume of 24,487 shares. The stock had previously closed at $15.02.

RiverNorth Managed Duration Municipal Income Fund II Stock Performance

The stock has a 50 day simple moving average of $14.76 and a 200 day simple moving average of $14.82.

RiverNorth Managed Duration Municipal Income Fund II Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a $0.0891 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a c) annualized dividend and a yield of 7.2%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE purchased a new stake in RiverNorth Managed Duration Municipal Income Fund II during the 3rd quarter worth $32,000. Osaic Holdings Inc. grew its stake in shares of RiverNorth Managed Duration Municipal Income Fund II by 94.2% during the fourth quarter. Osaic Holdings Inc. now owns 12,428 shares of the company’s stock valued at $180,000 after acquiring an additional 6,029 shares in the last quarter. Harbour Investments Inc. increased its position in shares of RiverNorth Managed Duration Municipal Income Fund II by 34.5% during the fourth quarter. Harbour Investments Inc. now owns 19,500 shares of the company’s stock worth $283,000 after acquiring an additional 5,000 shares during the last quarter. Raymond James Financial Inc. increased its position 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 worth $440,000 after acquiring an additional 9,749 shares during the last quarter. Finally, Closed End Fund Advisors Inc. acquired a new position in shares of RiverNorth Managed Duration Municipal Income Fund II in the fourth quarter worth about $564,000.