RiverNorth Managed Duration Municipal Income Fund II (NYSE:RMMZ) Shares Down 0.6% – What’s Next?

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSE:RMMZ) traded down 0.6% on Tuesday. The stock traded as low as $13.65 and last traded at $13.67. Approximately 20,189 shares traded hands during trading, an increase of 13% from the average daily volume of 17,876 shares. The stock had previously closed at $13.75.

RiverNorth Managed Duration Municipal Income Fund II Stock Down 2.1%

The business’s 50-day moving average price is $14.58 and its 200-day moving average price is $14.72.

RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were paid a dividend of $0.0891 per share. The ex-dividend date was Wednesday, July 15th. This represents a $1.07 annualized dividend and a dividend yield of 8.0%.

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

Several institutional investors and hedge funds have recently modified their holdings of RMMZ. Integrated Wealth Concepts LLC bought a new stake in shares of RiverNorth Managed Duration Municipal Income Fund II during the 2nd quarter worth $98,000. Rivernorth Capital Management LLC lifted its position in RiverNorth Managed Duration Municipal Income Fund II by 62.3% during the 2nd quarter. Rivernorth Capital Management LLC now owns 40,249 shares of the company’s stock worth $605,000 after acquiring an additional 15,447 shares during the last quarter. Wedbush Securities Inc. lifted its position in RiverNorth Managed Duration Municipal Income Fund II by 397.2% during the 2nd quarter. Wedbush Securities Inc. now owns 73,819 shares of the company’s stock worth $1,095,000 after acquiring an additional 58,972 shares during the last quarter. Noble Wealth Management PBC boosted its holdings in RiverNorth Managed Duration Municipal Income Fund II by 416.7% during the second quarter. Noble Wealth Management PBC now owns 6,200 shares of the company’s stock valued at $93,000 after acquiring an additional 5,000 shares during the period. Finally, Royal Bank of Canada boosted its holdings in RiverNorth Managed Duration Municipal Income Fund II by 3.9% during the first quarter. Royal Bank of Canada now owns 200,131 shares of the company’s stock valued at $2,940,000 after acquiring an additional 7,598 shares during the period.