RiverNorth Managed Duration Municipal Income Fund II (NYSEARCA:RMMZ) Stock Price Down 0.5% – Time to Sell?

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ)’s stock price fell 0.5% during trading on Thursday . The company traded as low as $14.67 and last traded at $14.76. Approximately 6,838 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 18,746 shares. The stock had previously closed at $14.84.

RiverNorth Managed Duration Municipal Income Fund II Trading Down 0.5%

The firm has a 50-day simple moving average of $14.86 and a 200-day simple moving average of $14.80.

RiverNorth Managed Duration Municipal Income Fund II Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a dividend of $0.0891 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 7.2%.

Institutional Trading of RiverNorth Managed Duration Municipal Income Fund II

Several hedge funds have recently modified their holdings of RMMZ. Royal Bank of Canada boosted its holdings 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 in the last quarter. UBS Group AG raised its stake in shares of 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 acquiring an additional 6,802 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of RiverNorth Managed Duration Municipal Income Fund II by 49.8% during the 3rd quarter. Raymond James Financial Inc. now owns 29,330 shares of the company’s stock worth $440,000 after acquiring an additional 9,749 shares in the last quarter. Bank of America Corp DE purchased a new stake in RiverNorth Managed Duration Municipal Income Fund II during the third quarter valued at approximately $32,000. Finally, Harbour Investments Inc. lifted its position in RiverNorth Managed Duration Municipal Income Fund II by 34.5% during the fourth quarter. Harbour Investments Inc. now owns 19,500 shares of the company’s stock valued at $283,000 after acquiring an additional 5,000 shares during the last quarter.