RiverNorth Managed Duration Municipal Income Fund II (NYSEARCA:RMMZ) Trading Down 0.3% – Here’s What Happened

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) traded down 0.3% during trading on Tuesday . The company traded as low as $14.67 and last traded at $14.71. 2,016 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 17,614 shares. The stock had previously closed at $14.76.

RiverNorth Managed Duration Municipal Income Fund II Trading Down 0.3%

The firm’s 50 day moving average is $14.86 and its 200 day moving average is $14.82.

RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were issued a $0.0891 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 7.3%.

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

Large investors have recently modified their holdings of the stock. Rivernorth Capital Management LLC grew its holdings in shares of RiverNorth Managed Duration Municipal Income Fund II by 62.3% in 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. boosted its position in shares of RiverNorth Managed Duration Municipal Income Fund II by 397.2% in 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. Noble Wealth Management PBC boosted its position in shares of RiverNorth Managed Duration Municipal Income Fund II by 416.7% in 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. Royal Bank of Canada increased its stake in RiverNorth Managed Duration Municipal Income Fund II by 3.9% in the 1st quarter. Royal Bank of Canada now owns 200,131 shares of the company’s stock worth $2,940,000 after purchasing an additional 7,598 shares in the last quarter. Finally, Gateway Wealth Partners LLC increased its stake in RiverNorth Managed Duration Municipal Income Fund II by 120.8% in the 1st quarter. Gateway Wealth Partners LLC now owns 291,298 shares of the company’s stock worth $4,279,000 after purchasing an additional 159,344 shares in the last quarter.