RiverNorth Managed Duration Municipal Income Fund II (NYSEARCA:RMMZ) Stock Price Down 0.5% – Here’s Why

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ)’s stock price was down 0.5% during trading on Thursday . The stock traded as low as $14.67 and last traded at $14.76. Approximately 6,838 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 18,746 shares. The stock had previously closed at $14.84.

RiverNorth Managed Duration Municipal Income Fund II Trading Down 0.3%

The business’s 50-day moving average price is $14.86 and its 200 day moving average price is $14.80.

RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a $0.0891 dividend. This represents a c) annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Wednesday, July 15th.

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

Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE bought a new position in RiverNorth Managed Duration Municipal Income Fund II during the third quarter valued at approximately $32,000. Noble Wealth Management PBC grew its stake in shares of 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 buying an additional 5,000 shares during the last quarter. 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 buying an additional 6,029 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of 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 worth $283,000 after buying an additional 5,000 shares during the period. Finally, Rivernorth Capital Management LLC purchased a new position in shares of RiverNorth Managed Duration Municipal Income Fund II in the first quarter worth about $364,000.