Arlington Capital Management Inc. Takes Position in RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ)

Arlington Capital Management Inc. bought a new position in RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ) in the 4th quarter, Holdings Channel.com reports. The firm bought 14,384 shares of the company’s stock, valued at approximately $215,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted 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 last quarter. Harbour Investments Inc. lifted its position in RiverNorth Managed Duration Municipal Income Fund II by 100.0% in the 4th quarter. Harbour Investments Inc. now owns 2,000 shares of the company’s stock worth $30,000 after buying an additional 1,000 shares during the last quarter. Independent Advisor Alliance purchased a new stake in RiverNorth Managed Duration Municipal Income Fund II in the fourth quarter worth approximately $1,798,000. LPL Financial LLC grew its position in RiverNorth Managed Duration Municipal Income Fund II by 25.6% during the fourth quarter. LPL Financial LLC now owns 24,969 shares of the company’s stock valued at $373,000 after acquiring an additional 5,097 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of RiverNorth Managed Duration Municipal Income Fund II during the fourth quarter worth approximately $351,000.

RiverNorth Managed Duration Municipal Income Fund II Stock Down 0.1 %

RMMZ stock opened at $15.36 on Wednesday. The firm’s fifty day moving average is $15.67 and its 200 day moving average is $15.76. RiverNorth Managed Duration Municipal Income Fund II, Inc. has a 52 week low of $14.70 and a 52 week high of $16.56.

RiverNorth Managed Duration Municipal Income Fund II Cuts Dividend

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