RiverNorth Managed Duration Municipal Income Fund II (NYSEARCA:RMMZ) Trading Up 0.1% – Still a Buy?

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ)’s stock price was up 0.1% during mid-day trading on Monday . The stock traded as high as $14.81 and last traded at $14.76. Approximately 13,832 shares were traded during trading, a decline of 36% from the average daily volume of 21,622 shares. The stock had previously closed at $14.74.

RiverNorth Managed Duration Municipal Income Fund II Trading Up 0.1%

The company has a 50-day moving average of $14.77 and a 200-day moving average of $14.80.

RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.0891 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 7.2%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RMMZ. Bank of America Corp DE purchased a new position in shares of RiverNorth Managed Duration Municipal Income Fund II during the third quarter valued at approximately $32,000. Osaic Holdings Inc. increased its position 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 acquiring an additional 6,029 shares during the last quarter. Harbour Investments Inc. increased its position in shares of RiverNorth Managed Duration Municipal Income Fund II by 34.5% during the fourth quarter. Harbour Investments Inc. now owns 19,500 shares of the company’s stock valued at $283,000 after acquiring an additional 5,000 shares during the last quarter. Raymond James Financial Inc. increased its position in shares of RiverNorth Managed Duration Municipal Income Fund II by 49.8% during the third quarter. Raymond James Financial Inc. now owns 29,330 shares of the company’s stock valued at $440,000 after acquiring an additional 9,749 shares during the last quarter. Finally, Closed End Fund Advisors Inc. purchased a new position in RiverNorth Managed Duration Municipal Income Fund II in the fourth quarter worth $564,000.