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RiverNorth Mngd Drtn Mncpl ncm Fnd , nc (N:RMMZ)

Business Focus: Closed End Funds

Sector:  Financials Industry:  Closed End Funds
 
See Regulatory Filings on SEC
Company Contact
Address: 360 S. Rosemary Ave, Suite 1420
WEST PALM BEACH FL 33401
Tel: N/A
Website: N/A
IR: N/A
Key People
Patrick W. Galley
Chairman of the Board, President
Jonathan M. Mohrhardt
Chief Financial Officer, Treasurer
Marcus L. Collins
Chief Compliance Officer, Secretary
Business Overview
RiverNorth Managed Duration Municipal Income Fund II, Inc. (the Fund) is a closed-end management investment company. The Fund's primary investment objective is current income exempt from regular United States (U.S) federal income taxes. The Fund's secondary investment objective is total return. The Fund seeks to achieve its investment objectives by investing, directly or indirectly, at least 80% of its Managed Assets in municipal bonds, the interest on which is, in the opinion of bond counsel to the issuers, generally excludable from gross income for regular U.S. federal income tax purposes, except that the interest may be includable in taxable income for purposes of the Federal alternative minimum tax (Municipal Bonds). The Fund may also invest in underlying funds that invest in securities. The Fund invests in various sectors, which include closed-end funds, municipal bonds, short-term investments. The Fund's investment adviser is RiverNorth Capital Management, LLC.
Financial Overview
For the fiscal year ended 30 June 2024, RiverNorth Mngd Drtn Mncpl ncm Fnd , nc revenues decreased 6% to $9.5M. Net income increased 63% to $11.2M. Revenues reflect Interest decrease of 15% to $5.5M. Net income reflects Investments decrease of 65% to $4.8M (expense), Investments increase of 24% to $9.9M (income). Dividend per share decreased from $1.21 to $1.17.