RiverNorth Managed Duration Municipal Income Fund II (NYSEARCA:RMMZ) Trading Down 0.3% – Here’s What Happened

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) traded down 0.3% on Tuesday . The company traded as low as $14.67 and last traded at $14.71. 2,016 shares changed hands during trading, a decline of 89% from the average session volume of 17,614 shares. The stock had previously closed at $14.76.

RiverNorth Managed Duration Municipal Income Fund II Stock Down 0.3%

The firm has a 50 day simple moving average of $14.86 and a 200-day simple moving average of $14.82.

RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement

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

Institutional Investors Weigh In On RiverNorth Managed Duration Municipal Income Fund II

Several institutional investors have recently bought and sold shares of RMMZ. Gateway Wealth Partners LLC grew its holdings in 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 purchasing an additional 159,344 shares during the last quarter. Closed End Fund Advisors Inc. acquired a new stake in shares of RiverNorth Managed Duration Municipal Income Fund II in the 4th quarter worth $564,000. Rivernorth Capital Management LLC purchased a new position in RiverNorth Managed Duration Municipal Income Fund II during the 1st quarter worth $364,000. Royal Bank of Canada grew its stake in RiverNorth Managed Duration Municipal Income Fund II by 11.9% during the 4th quarter. Royal Bank of Canada now owns 192,533 shares of the company’s stock worth $2,796,000 after buying an additional 20,473 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in RiverNorth Managed Duration Municipal Income Fund II by 49.8% during the 3rd quarter. Raymond James Financial Inc. now owns 29,330 shares of the company’s stock valued at $440,000 after buying an additional 9,749 shares in the last quarter.