RiverNorth Managed Duration Municipal Income Fund II (NYSE:RMMZ) Share Price Breaks Below Fifty Day Moving Average – Time to Sell?

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSE:RMMZ) shares 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 Price Performance

The firm’s 50-day moving average is $13.63 and its 200 day moving average is $14.51.

RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be paid a $0.0891 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.07 annualized dividend and a dividend yield of 8.1%.

Institutional Trading of RiverNorth Managed Duration Municipal Income Fund II

A number of institutional investors have recently modified their holdings of RMMZ. Oppenheimer & Co. Inc. acquired a new position in RiverNorth Managed Duration Municipal Income Fund II during the 3rd quarter worth approximately $709,000. Integrated Wealth Concepts LLC acquired a new stake in shares of RiverNorth Managed Duration Municipal Income Fund II in the second quarter valued at approximately $98,000. Rivernorth Capital Management LLC raised its holdings in shares of RiverNorth Managed Duration Municipal Income Fund II by 62.3% in the second 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 during the last quarter. Wedbush Securities Inc. lifted its position in shares of RiverNorth Managed Duration Municipal Income Fund II by 397.2% in the second quarter. Wedbush Securities Inc. now owns 73,819 shares of the company’s stock worth $1,095,000 after purchasing an additional 58,972 shares in the last quarter. Finally, Noble Wealth Management PBC lifted its position in shares of RiverNorth Managed Duration Municipal Income Fund II by 416.7% in the second quarter. Noble Wealth Management PBC now owns 6,200 shares of the company’s stock worth $93,000 after purchasing an additional 5,000 shares in the last quarter.