RiverNorth Managed Duration Municipal Income Fund II (NYSEARCA:RMMZ) Stock Price Up 0.3% – Here’s Why

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ)’s share price rose 0.3% during mid-day trading on Wednesday . The stock traded as high as $14.89 and last traded at $14.80. Approximately 18,589 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 19,725 shares. The stock had previously closed at $14.76.

RiverNorth Managed Duration Municipal Income Fund II Price Performance

The stock’s 50 day simple moving average is $14.78 and its 200 day simple moving average is $14.75.

RiverNorth Managed Duration Municipal Income Fund II Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE purchased a new position in RiverNorth Managed Duration Municipal Income Fund II during the 3rd quarter valued at about $32,000. Osaic Holdings Inc. increased its position in RiverNorth Managed Duration Municipal Income Fund II by 94.2% during the 4th quarter. Osaic Holdings Inc. now owns 12,428 shares of the company’s stock valued at $180,000 after purchasing an additional 6,029 shares during the period. Harbour Investments Inc. increased its position in RiverNorth Managed Duration Municipal Income Fund II by 34.5% during the 4th quarter. Harbour Investments Inc. now owns 19,500 shares of the company’s stock valued at $283,000 after purchasing an additional 5,000 shares during the period. Rivernorth Capital Management LLC purchased a new position in RiverNorth Managed Duration Municipal Income Fund II during the 1st quarter valued at about $364,000. Finally, Raymond James Financial Inc. increased its position in RiverNorth Managed Duration Municipal Income Fund II by 49.8% during the 3rd 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 period.