Stifel Financial Corp Sells 3,717 Shares of RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ)

Stifel Financial Corp trimmed its position in shares of RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) by 9.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,877 shares of the company’s stock after selling 3,717 shares during the period. Stifel Financial Corp’s holdings in RiverNorth Managed Duration Municipal Income Fund II were worth $570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Oppenheimer & Co. Inc. purchased a new position in RiverNorth Managed Duration Municipal Income Fund II in the third quarter worth about $196,000. PFG Investments LLC lifted its stake in shares of RiverNorth Managed Duration Municipal Income Fund II by 70.0% in the 2nd quarter. PFG Investments LLC now owns 17,000 shares of the company’s stock valued at $276,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its holdings in shares of RiverNorth Managed Duration Municipal Income Fund II by 4.8% in the 2nd quarter. Wedbush Securities Inc. now owns 54,865 shares of the company’s stock worth $892,000 after purchasing an additional 2,509 shares during the period.

RiverNorth Managed Duration Municipal Income Fund II Stock Performance

NYSEARCA:RMMZ opened at $14.86 on Friday. The stock’s fifty day moving average is $15.76 and its 200 day moving average is $15.98. RiverNorth Managed Duration Municipal Income Fund II, Inc. has a fifty-two week low of $14.76 and a fifty-two week high of $16.56.

RiverNorth Managed Duration Municipal Income Fund II Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.0974 dividend. This represents a $1.17 annualized dividend and a dividend yield of 7.87%. The ex-dividend date is Friday, December 13th.