Closed End Fund Advisors Inc. Takes $564,000 Position in RiverNorth Managed Duration Municipal Income Fund II, Inc. $RMMZ

Closed End Fund Advisors Inc. bought a new stake in shares of RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) during the 4th quarter, HoldingsChannel.com reports. The firm bought 38,831 shares of the company’s stock, valued at approximately $564,000.

Several other institutional investors have also made changes to their positions in RMMZ. Gateway Wealth Partners LLC acquired a new stake in shares of RiverNorth Managed Duration Municipal Income Fund II during the 3rd quarter valued at about $1,827,000. Oppenheimer & Co. Inc. boosted its position in RiverNorth Managed Duration Municipal Income Fund II by 21.0% in the third quarter. Oppenheimer & Co. Inc. now owns 59,906 shares of the company’s stock valued at $899,000 after buying an additional 10,407 shares in the last quarter. Raymond James Financial Inc. boosted its position in RiverNorth Managed Duration Municipal Income Fund II by 49.8% in the third quarter. Raymond James Financial Inc. now owns 29,330 shares of the company’s stock valued at $440,000 after buying an additional 9,749 shares in the last quarter. UBS Group AG boosted its position in RiverNorth Managed Duration Municipal Income Fund II by 3.5% in the third quarter. UBS Group AG now owns 201,748 shares of the company’s stock valued at $3,026,000 after buying an additional 6,802 shares in the last quarter. Finally, Harbour Investments Inc. boosted its position in RiverNorth Managed Duration Municipal Income Fund II by 34.5% in the fourth quarter. Harbour Investments Inc. now owns 19,500 shares of the company’s stock valued at $283,000 after buying an additional 5,000 shares in the last quarter.

RiverNorth Managed Duration Municipal Income Fund II Stock Performance

NYSEARCA:RMMZ opened at $14.82 on Friday. RiverNorth Managed Duration Municipal Income Fund II, Inc. has a 12 month low of $13.83 and a 12 month high of $15.29. The company’s 50-day moving average price is $14.78 and its two-hundred day moving average price is $14.75.

RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement

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