RiverNorth Managed Duration Municipal Income Fund II (NYSEARCA:RMMZ) Stock Price Down 1.5% – Should You Sell?

by · The Cerbat Gem

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ – Get Free Report) was down 1.5% during mid-day trading on Wednesday . The company traded as low as $14.78 and last traded at $14.80. Approximately 26,364 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 24,487 shares. The stock had previously closed at $15.02.

RiverNorth Managed Duration Municipal Income Fund II Trading Down 1.5%

The company has a fifty day moving average price of $14.76 and a 200 day moving average price of $14.82.

RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a $0.0891 dividend. This represents a c) dividend on an annualized basis and a yield of 7.2%. The ex-dividend date is Monday, March 16th.

Institutional Trading of RiverNorth Managed Duration Municipal Income Fund II

A number of large investors have recently modified their holdings of the company. Gateway Wealth Partners LLC acquired a new position in RiverNorth Managed Duration Municipal Income Fund II during the 3rd quarter valued at about $1,827,000. UBS Group AG raised its holdings in shares of RiverNorth Managed Duration Municipal Income Fund II by 3.5% during the third quarter. UBS Group AG now owns 201,748 shares of the company’s stock valued at $3,026,000 after buying an additional 6,802 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of RiverNorth Managed Duration Municipal Income Fund II by 3.3% during the fourth quarter. Wells Fargo & Company MN now owns 198,203 shares of the company’s stock worth $2,878,000 after buying an additional 6,400 shares during the period. Royal Bank of Canada boosted its position in shares of RiverNorth Managed Duration Municipal Income Fund II by 11.9% during the fourth 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 period. Finally, Raymond James Financial Inc. grew its holdings in RiverNorth Managed Duration Municipal Income Fund II by 49.8% in the 3rd quarter. Raymond James Financial Inc. now owns 29,330 shares of the company’s stock worth $440,000 after buying an additional 9,749 shares in the last quarter.

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