RiverNorth Managed Duration Municipal Income Fund II, Inc. $RMMZ Shares Bought by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC raised its stake in RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) by 120.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 291,298 shares of the company’s stock after purchasing an additional 159,344 shares during the quarter. Gateway Wealth Partners LLC’s holdings in RiverNorth Managed Duration Municipal Income Fund II were worth $4,279,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RMMZ. Osaic Holdings Inc. raised its stake 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 worth $180,000 after purchasing an additional 6,029 shares during the last quarter. Royal Bank of Canada increased its stake in RiverNorth Managed Duration Municipal Income Fund II by 11.9% in the 4th quarter. Royal Bank of Canada now owns 192,533 shares of the company’s stock valued at $2,796,000 after buying an additional 20,473 shares during the period. Wells Fargo & Company MN increased its stake in RiverNorth Managed Duration Municipal Income Fund II by 3.3% in the 4th quarter. Wells Fargo & Company MN now owns 198,203 shares of the company’s stock valued at $2,878,000 after buying an additional 6,400 shares during the period. Closed End Fund Advisors Inc. purchased a new position in RiverNorth Managed Duration Municipal Income Fund II during the 4th quarter worth $564,000. Finally, Harbour Investments Inc. raised its position in RiverNorth Managed Duration Municipal Income Fund II by 34.5% during the 4th quarter. Harbour Investments Inc. now owns 19,500 shares of the company’s stock worth $283,000 after buying an additional 5,000 shares during the last quarter.

RiverNorth Managed Duration Municipal Income Fund II Stock Performance

RMMZ stock opened at $14.65 on Tuesday. The company has a fifty day moving average of $14.85 and a 200-day moving average of $14.80. RiverNorth Managed Duration Municipal Income Fund II, Inc. has a one year low of $13.91 and a one year high of $15.29.

RiverNorth Managed Duration Municipal Income Fund II Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a $0.0891 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 7.3%.