PFG Investments LLC Purchases 7,000 Shares of RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ)

PFG Investments LLC boosted its position in shares of RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) by 70.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 17,000 shares of the company’s stock after buying an additional 7,000 shares during the quarter. PFG Investments LLC’s holdings in RiverNorth Managed Duration Municipal Income Fund II were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RMMZ. Prudent Investors Network Inc. bought a new position in shares of RiverNorth Managed Duration Municipal Income Fund II in the first quarter valued at about $169,000. Fairhaven Wealth Management LLC bought a new position in shares of RiverNorth Managed Duration Municipal Income Fund II in the first quarter valued at about $272,000. Finally, &PARTNERS raised its position in shares of RiverNorth Managed Duration Municipal Income Fund II by 15.7% in the second quarter. &PARTNERS now owns 18,412 shares of the company’s stock valued at $299,000 after purchasing an additional 2,500 shares during the period.

RiverNorth Managed Duration Municipal Income Fund II Price Performance

Shares of RMMZ opened at $16.10 on Friday. The company’s 50-day moving average is $15.99 and its 200-day moving average is $15.93. RiverNorth Managed Duration Municipal Income Fund II, Inc. has a fifty-two week low of $12.92 and a fifty-two week high of $16.42.

RiverNorth Managed Duration Municipal Income Fund II Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.0974 dividend. This represents a $1.17 annualized dividend and a dividend yield of 7.26%. The ex-dividend date is Friday, September 13th.