RiverNorth Managed Duration Municipal Income Fund II (NYSEARCA:RMMZ) Shares Up 0.7% – Here’s What Happened

Shares of RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) shot up 0.7% during mid-day trading on Tuesday . The company traded as high as $14.87 and last traded at $14.83. 67,111 shares were traded during trading, an increase of 150% from the average session volume of 26,841 shares. The stock had previously closed at $14.72.

RiverNorth Managed Duration Municipal Income Fund II Stock Up 0.7%

The business has a fifty day moving average price of $14.67 and a 200 day moving average price of $14.70.

RiverNorth Managed Duration Municipal Income Fund II Announces Dividend

The company 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. The ex-dividend date is Monday, March 16th. This represents a c) annualized dividend and a yield of 7.2%.

Insiders Place Their Bets

In other news, Portfolio Manager Robert A. Dimella sold 10,060 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $14.98, for a total transaction of $150,698.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of RiverNorth Managed Duration Municipal Income Fund II

A number of institutional investors have recently made changes to their positions in the business. Bank of America Corp DE acquired a new position in RiverNorth Managed Duration Municipal Income Fund II during the third quarter worth $32,000. Raymond James Financial Inc. increased its stake 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 valued at $440,000 after buying an additional 9,749 shares during the last quarter. UBS Group AG lifted its position in RiverNorth Managed Duration Municipal Income Fund II by 3.5% during 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 in the last quarter. Oppenheimer & Co. Inc. lifted its position in RiverNorth Managed Duration Municipal Income Fund II by 21.0% during 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 in the last quarter. Finally, Gateway Wealth Partners LLC acquired a new position in shares of RiverNorth Managed Duration Municipal Income Fund II during the 3rd quarter worth about $1,827,000.