RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ – Get Rating) announced a monthly dividend on Tuesday, January 3rd, Wall Street Journal reports. Stockholders of record on Wednesday, March 15th will be given a dividend of 0.0971 per share on Friday, March 31st. This represents a $1.17 annualized dividend and a dividend yield of 7.73%. The ex-dividend date is Tuesday, March 14th. This is a positive change from RiverNorth Managed Duration Municipal Income Fund II's previous monthly dividend of $0.10.
RiverNorth Managed Duration Municipal Income Fund II Stock Performance
RMMZ stock opened at $15.08 on Friday. RiverNorth Managed Duration Municipal Income Fund II has a one year low of $13.94 and a one year high of $20.04. The company has a fifty day moving average of $15.94 and a 200-day moving average of $15.62.
Get RiverNorth Managed Duration Municipal Income Fund II alerts:Institutional Trading of RiverNorth Managed Duration Municipal Income Fund II
Hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC acquired a new stake in shares of RiverNorth Managed Duration Municipal Income Fund II in the fourth quarter valued at about $142,000. Royal Bank of Canada lifted its stake in shares of RiverNorth Managed Duration Municipal Income Fund II by 4.8% in the third quarter. Royal Bank of Canada now owns 17,216 shares of the company's stock valued at $264,000 after purchasing an additional 784 shares during the period. Advisor Group Holdings Inc. lifted its stake in shares of RiverNorth Managed Duration Municipal Income Fund II by 9.1% in the fourth quarter. Advisor Group Holdings Inc. now owns 17,600 shares of the company's stock valued at $267,000 after purchasing an additional 1,469 shares during the period. Wells Fargo & Company MN lifted its stake in shares of RiverNorth Managed Duration Municipal Income Fund II by 19.9% in the fourth quarter. Wells Fargo & Company MN now owns 35,666 shares of the company's stock valued at $541,000 after purchasing an additional 5,931 shares during the period. Finally, Morgan Stanley lifted its stake in shares of RiverNorth Managed Duration Municipal Income Fund II by 44.6% in the fourth quarter. Morgan Stanley now owns 111,614 shares of the company's stock valued at $1,694,000 after purchasing an additional 34,432 shares during the period.
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