RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSE:RMMZ – Get Free Report) passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $13.68 and traded as low as $13.57. RiverNorth Managed Duration Municipal Income Fund II shares last traded at $13.5850, with a volume of 29,266 shares trading hands.
RiverNorth Managed Duration Municipal Income Fund II Trading Down 0.8%
The business’s 50 day moving average is $13.68 and its two-hundred day moving average is $14.53.
RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.0891 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Tuesday, December 15th.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in RMMZ. Oppenheimer & Co. Inc. bought a new stake in RiverNorth Managed Duration Municipal Income Fund II during the third quarter worth approximately $709,000. Integrated Wealth Concepts LLC bought a new position in RiverNorth Managed Duration Municipal Income Fund II during the 2nd quarter valued at $98,000. Rivernorth Capital Management LLC boosted its stake 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 valued at $605,000 after purchasing an additional 15,447 shares in the last quarter. Wedbush Securities Inc. increased its position in shares of 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 valued at $1,095,000 after purchasing an additional 58,972 shares during the period. Finally, Noble Wealth Management PBC increased its position in shares of RiverNorth Managed Duration Municipal Income Fund II by 416.7% during the 2nd quarter. Noble Wealth Management PBC now owns 6,200 shares of the company’s stock valued at $93,000 after purchasing an additional 5,000 shares during the period.
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