RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) Shares Bought by Wedbush Securities Inc.

Wedbush Securities Inc. grew its holdings in RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) by 9.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,762 shares of the company’s stock after buying an additional 4,679 shares during the period. Wedbush Securities Inc.’s holdings in RiverNorth Managed Duration Municipal Income Fund II were worth $818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Independent Advisor Alliance purchased a new stake in RiverNorth Managed Duration Municipal Income Fund II in the 4th quarter valued at $1,798,000. Raymond James Financial Inc. acquired a new position in shares of RiverNorth Managed Duration Municipal Income Fund II during the 4th quarter valued at about $351,000. Wells Fargo & Company MN grew its holdings in shares of RiverNorth Managed Duration Municipal Income Fund II by 11.6% in the fourth quarter. Wells Fargo & Company MN now owns 222,173 shares of the company’s stock valued at $3,319,000 after purchasing an additional 23,090 shares during the period. Arlington Capital Management Inc. acquired a new stake in RiverNorth Managed Duration Municipal Income Fund II during the fourth quarter worth about $215,000. Finally, Oppenheimer & Co. Inc. raised its stake in RiverNorth Managed Duration Municipal Income Fund II by 102.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 24,337 shares of the company’s stock worth $364,000 after purchasing an additional 12,319 shares during the period.

RiverNorth Managed Duration Municipal Income Fund II Price Performance

RiverNorth Managed Duration Municipal Income Fund II stock opened at $14.35 on Tuesday. The firm has a 50 day simple moving average of $15.61 and a 200-day simple moving average of $15.69. RiverNorth Managed Duration Municipal Income Fund II, Inc. has a 1-year low of $14.16 and a 1-year high of $16.56.

RiverNorth Managed Duration Municipal Income Fund II Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.0951 per share. The ex-dividend date is Friday, June 13th. This represents a $1.14 annualized dividend and a yield of 7.95%.