Karpus Management Inc. Sells 38,408 Shares of RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ)

Karpus Management Inc. reduced its holdings in shares of RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) by 14.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,848 shares of the company’s stock after selling 38,408 shares during the period. Karpus Management Inc.’s holdings in RiverNorth Managed Duration Municipal Income Fund II were worth $3,643,000 at the end of the most recent reporting period.

Separately, PFG Investments LLC bought a new stake in shares of RiverNorth Managed Duration Municipal Income Fund II during the first quarter valued at approximately $161,000.

RiverNorth Managed Duration Municipal Income Fund II Stock Up 0.6 %

Shares of RMMZ traded up $0.10 during mid-day trading on Thursday, hitting $15.94. 24,400 shares of the company traded hands, compared to its average volume of 20,156. The stock has a 50-day moving average price of $15.99 and a two-hundred day moving average price of $15.91. RiverNorth Managed Duration Municipal Income Fund II, Inc. has a 1 year low of $12.92 and a 1 year high of $16.70.

RiverNorth Managed Duration Municipal Income Fund II Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.0974 dividend. This represents a $1.17 annualized dividend and a dividend yield of 7.33%. The ex-dividend date of this dividend is Friday, September 13th.