RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSE:RMMZ) Shareholders Set to Receive $0.09 Monthly Dividend

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSE:RMMZ) announced a monthly dividend on Thursday, October 1st. Stockholders of record on Monday, November 16th will be paid a dividend of $0.0891 per share on Monday, November 30th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date is Monday, November 16th.

RiverNorth Managed Duration Municipal Income Fund II Stock Performance

RiverNorth Managed Duration Municipal Income Fund II stock traded up $0.10 during trading hours on Friday, hitting $13.27. 7,974 shares of the stock traded hands, compared to its average volume of 18,604. RiverNorth Managed Duration Municipal Income Fund II has a one year low of $12.77 and a one year high of $15.29. The firm’s 50-day moving average price is $14.37 and its two-hundred day moving average price is $14.66.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RMMZ. Gateway Wealth Partners LLC grew its stake in shares of RiverNorth Managed Duration Municipal Income Fund II by 120.8% in the first quarter. Gateway Wealth Partners LLC now owns 291,298 shares of the company’s stock worth $4,279,000 after acquiring an additional 159,344 shares during the last quarter. Royal Bank of Canada increased its stake in RiverNorth Managed Duration Municipal Income Fund II by 3.9% during the 1st quarter. Royal Bank of Canada now owns 200,131 shares of the company’s stock valued at $2,940,000 after purchasing an additional 7,598 shares in the last quarter. Wedbush Securities Inc. lifted its stake 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 buying an additional 58,972 shares in the last quarter. Rivernorth Capital Management LLC lifted its position in 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 valued at $605,000 after acquiring an additional 15,447 shares in the last quarter. Finally, Closed End Fund Advisors Inc. purchased a new stake in shares of RiverNorth Managed Duration Municipal Income Fund II during the fourth quarter valued at $564,000.