Oppenheimer & Co. Inc. acquired a new stake in shares of RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSE:RMMZ – Free Report) during the third quarter, HoldingsChannel reports. The fund acquired 54,100 shares of the company’s stock, valued at approximately $709,000.
Several other institutional investors have also added to or reduced their stakes in RMMZ. Wedbush Securities Inc. lifted its position in shares of RiverNorth Managed Duration Municipal Income Fund II by 397.2% in the 2nd quarter. Wedbush Securities Inc. now owns 73,819 shares of the company’s stock worth $1,095,000 after purchasing an additional 58,972 shares during the period. Gateway Wealth Partners LLC grew its holdings in shares of RiverNorth Managed Duration Municipal Income Fund II by 120.8% during the 1st quarter. Gateway Wealth Partners LLC now owns 291,298 shares of the company’s stock worth $4,279,000 after acquiring an additional 159,344 shares during the period. Rivernorth Capital Management LLC raised its holdings in RiverNorth Managed Duration Municipal Income Fund II by 62.3% in the second quarter. Rivernorth Capital Management LLC now owns 40,249 shares of the company’s stock worth $605,000 after purchasing an additional 15,447 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in RiverNorth Managed Duration Municipal Income Fund II during the 2nd quarter valued at about $98,000. Finally, Royal Bank of Canada lifted its holdings in shares of RiverNorth Managed Duration Municipal Income Fund II by 3.9% during the first quarter. Royal Bank of Canada now owns 200,131 shares of the company’s stock valued at $2,940,000 after purchasing an additional 7,598 shares during the last quarter.
RiverNorth Managed Duration Municipal Income Fund II Trading Up 1.1%
Shares of RiverNorth Managed Duration Municipal Income Fund II stock opened at $13.97 on Thursday. The firm’s 50-day moving average is $13.78 and its 200 day moving average is $14.55. RiverNorth Managed Duration Municipal Income Fund II, Inc. has a 1 year low of $12.77 and a 1 year high of $15.29.
RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be given a $0.0891 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend is Tuesday, December 15th.
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