Harbour Investments Inc. Raises Stake in RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ)

Harbour Investments Inc. increased its stake in RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) by 100.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,000 shares of the company’s stock after buying an additional 1,000 shares during the period. Harbour Investments Inc.’s holdings in RiverNorth Managed Duration Municipal Income Fund II were worth $30,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. increased its position in shares of 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 acquiring an additional 12,319 shares during the period. Raymond James Financial Inc. bought a new position in RiverNorth Managed Duration Municipal Income Fund II in the fourth quarter worth approximately $351,000. Finally, Independent Advisor Alliance purchased a new position in RiverNorth Managed Duration Municipal Income Fund II during the 4th quarter worth $1,798,000.

RiverNorth Managed Duration Municipal Income Fund II Trading Up 0.7 %

Shares of RMMZ stock opened at $15.38 on Tuesday. RiverNorth Managed Duration Municipal Income Fund II, Inc. has a twelve month low of $14.70 and a twelve month high of $16.56. The stock has a fifty day simple moving average of $15.67 and a two-hundred day simple moving average of $15.76.

RiverNorth Managed Duration Municipal Income Fund II Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 16th were issued a dividend of $0.0951 per share. This represents a yield of 7.49%. The ex-dividend date was Wednesday, January 15th.