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

RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) saw a significant increase in short interest in May. As of May 31st, there was short interest totalling 12,600 shares, an increase of 70.3% from the May 15th total of 7,400 shares. Based on an average daily volume of 25,400 shares, the days-to-cover ratio is currently 0.5 days.

RiverNorth Managed Duration Municipal Income Fund II Stock Down 0.2%

NYSEARCA:RMMZ traded down $0.03 during trading hours on Tuesday, hitting $14.20. The stock had a trading volume of 2,834 shares, compared to its average volume of 27,521. The business has a 50 day simple moving average of $14.31 and a two-hundred day simple moving average of $15.06. RiverNorth Managed Duration Municipal Income Fund II has a 1-year low of $13.79 and a 1-year high of $16.56.

RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.0951 dividend. The ex-dividend date was Thursday, May 15th. This represents a yield of 7.85%.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its stake in shares of RiverNorth Managed Duration Municipal Income Fund II by 100.0% in the fourth quarter. Harbour Investments Inc. now owns 2,000 shares of the company’s stock worth $30,000 after acquiring an additional 1,000 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of RiverNorth Managed Duration Municipal Income Fund II during the fourth quarter worth approximately $176,000. Arlington Capital Management Inc. acquired a new position in RiverNorth Managed Duration Municipal Income Fund II in the fourth quarter worth about $215,000. TT Capital Management LLC bought a new position in RiverNorth Managed Duration Municipal Income Fund II during the 4th quarter worth approximately $268,000. Finally, Raymond James Financial Inc. acquired a new position in shares of RiverNorth Managed Duration Municipal Income Fund II in the 4th quarter worth approximately $351,000.