RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSE:RMMZ) Stock Short Interest Jumps 71.9%

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSE:RMMZ) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totaling 20,243 shares, a growth of 71.9% from the September 15th total of 11,776 shares. Based on an average trading volume of 32,306 shares, the days-to-cover ratio is presently 0.6 days.

RiverNorth Managed Duration Municipal Income Fund II Price Performance

Shares of RMMZ traded up $0.10 during trading hours on Friday, hitting $13.51. The company had a trading volume of 8,552 shares, compared to its average volume of 19,561. The business has a fifty day moving average of $14.04 and a 200-day moving average of $14.56. RiverNorth Managed Duration Municipal Income Fund II has a 12 month low of $12.77 and a 12 month high of $15.29.

RiverNorth Managed Duration Municipal Income Fund II Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.0891 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend is Tuesday, December 15th.

Hedge Funds Weigh In On RiverNorth Managed Duration Municipal Income Fund II

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wedbush Securities Inc. increased its holdings in shares of RiverNorth Managed Duration Municipal Income Fund II by 397.2% during 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. 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 purchasing an additional 159,344 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of RiverNorth Managed Duration Municipal Income Fund II in the 2nd quarter valued at about $98,000. Rivernorth Capital Management LLC raised its holdings in RiverNorth Managed Duration Municipal Income Fund II by 62.3% during the 2nd quarter. Rivernorth Capital Management LLC now owns 40,249 shares of the company’s stock worth $605,000 after purchasing an additional 15,447 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in RiverNorth Managed Duration Municipal Income Fund II by 3.9% in the first quarter. Royal Bank of Canada now owns 200,131 shares of the company’s stock valued at $2,940,000 after buying an additional 7,598 shares during the period.