RiverNorth Managed Duration Municipal Income Fund II, Inc. Plans Monthly Dividend of $0.09 (NYSEARCA:RMMZ)

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) declared a monthly dividend on Wednesday, April 1st. Shareholders of record on Monday, June 15th will be paid a dividend of 0.0891 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 7.2%. The ex-dividend date is Monday, June 15th.

RiverNorth Managed Duration Municipal Income Fund II Price Performance

NYSEARCA:RMMZ traded down $0.01 during mid-day trading on Friday, reaching $14.87. The company’s stock had a trading volume of 19,470 shares, compared to its average volume of 19,599. RiverNorth Managed Duration Municipal Income Fund II has a 12-month low of $13.83 and a 12-month high of $15.29. The firm’s fifty day moving average price is $14.82 and its two-hundred day moving average price is $14.75.

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

A number of hedge funds have recently bought and sold shares of RMMZ. Royal Bank of Canada raised its position in 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 worth $2,537,000 after buying an additional 2,479 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in RiverNorth Managed Duration Municipal Income Fund II by 21.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 59,906 shares of the company’s stock worth $899,000 after buying an additional 10,407 shares during the last quarter. UBS Group AG raised its position in RiverNorth Managed Duration Municipal Income Fund II by 3.5% in the 3rd quarter. UBS Group AG now owns 201,748 shares of the company’s stock worth $3,026,000 after buying an additional 6,802 shares during the last quarter. Raymond James Financial Inc. raised its position 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 during the last quarter. Finally, Bank of America Corp DE purchased a new position in RiverNorth Managed Duration Municipal Income Fund II in the 3rd quarter worth about $32,000.