RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) Sees Significant Growth in Short Interest

by · The Markets Daily

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ – Get Free Report) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 52,900 shares, a growth of 45.3% from the September 30th total of 36,400 shares. Based on an average daily trading volume, of 34,400 shares, the short-interest ratio is currently 1.5 days. Based on an average daily trading volume, of 34,400 shares, the short-interest ratio is currently 1.5 days.

RiverNorth Managed Duration Municipal Income Fund II Stock Up 0.3%

Shares of NYSEARCA RMMZ traded up $0.05 during midday trading on Tuesday, hitting $15.05. The stock had a trading volume of 1,735 shares, compared to its average volume of 29,968. The company’s 50-day simple moving average is $14.89 and its 200 day simple moving average is $14.47. RiverNorth Managed Duration Municipal Income Fund II has a fifty-two week low of $13.79 and a fifty-two week high of $16.45.

RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.0951 dividend. This represents a c) annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend is Monday, December 15th.

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

Several hedge funds and other institutional investors have recently made changes to their positions in RMMZ. River Street Advisors LLC acquired a new stake in shares of RiverNorth Managed Duration Municipal Income Fund II in the 2nd quarter valued at $342,000. Harbour Investments Inc. increased its stake in shares of RiverNorth Managed Duration Municipal Income Fund II by 450.0% in the 2nd quarter. Harbour Investments Inc. now owns 11,000 shares of the company’s stock valued at $155,000 after buying an additional 9,000 shares during the period. Royal Bank of Canada increased its stake in shares of RiverNorth Managed Duration Municipal Income Fund II by 1.5% in the 1st quarter. Royal Bank of Canada now owns 166,656 shares of the company’s stock valued at $2,537,000 after buying an additional 2,479 shares during the period. Arlington Capital Management Inc. grew its stake in shares of RiverNorth Managed Duration Municipal Income Fund II by 12.2% during the first quarter. Arlington Capital Management Inc. now owns 16,134 shares of the company’s stock worth $246,000 after purchasing an additional 1,750 shares during the period. Finally, PFG Investments LLC grew its stake in shares of RiverNorth Managed Duration Municipal Income Fund II by 7.7% during the second quarter. PFG Investments LLC now owns 14,000 shares of the company’s stock worth $197,000 after purchasing an additional 1,000 shares during the period.

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