RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) Sees Significant Increase in Short Interest

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 52,900 shares, an increase of 45.3% from the September 30th total of 36,400 shares. Based on an average daily volume of 34,400 shares, the short-interest ratio is presently 1.5 days. Based on an average daily volume of 34,400 shares, the short-interest ratio is presently 1.5 days.

Institutional Trading of RiverNorth Managed Duration Municipal Income Fund II

Several hedge funds have recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its holdings in RiverNorth Managed Duration Municipal Income Fund II by 450.0% during the 2nd quarter. Harbour Investments Inc. now owns 11,000 shares of the company’s stock worth $155,000 after purchasing an additional 9,000 shares during the last quarter. River Street Advisors LLC acquired a new stake in RiverNorth Managed Duration Municipal Income Fund II during the 2nd quarter worth approximately $342,000. PFG Investments LLC lifted its holdings in RiverNorth Managed Duration Municipal Income Fund II by 7.7% during the 2nd quarter. PFG Investments LLC now owns 14,000 shares of the company’s stock worth $197,000 after purchasing an additional 1,000 shares during the last quarter. Royal Bank of Canada raised its holdings in RiverNorth Managed Duration Municipal Income Fund II by 1.5% in the 1st quarter. Royal Bank of Canada now owns 166,656 shares of the company’s stock valued at $2,537,000 after acquiring an additional 2,479 shares in the last quarter. Finally, Arlington Capital Management Inc. raised its holdings in RiverNorth Managed Duration Municipal Income Fund II by 12.2% in the 1st quarter. Arlington Capital Management Inc. now owns 16,134 shares of the company’s stock valued at $246,000 after acquiring an additional 1,750 shares in the last quarter.

RiverNorth Managed Duration Municipal Income Fund II Price Performance

NYSEARCA:RMMZ opened at $15.09 on Wednesday. The stock has a 50 day simple moving average of $14.90 and a 200 day simple moving average of $14.48. RiverNorth Managed Duration Municipal Income Fund II has a 1-year low of $13.79 and a 1-year high of $16.45.

RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.0951 per share. This represents a c) annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend is Monday, December 15th.