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See exactly how RMMZ's revenue becomes profit — a Sankey that traces revenue (and its reported segments) through gross profit, operating expenses, and net profit, with the year-over-year change on every line.
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The RiverNorth Managed Duration Municipal Income Fund II, Inc. (RMMZ) is structured as a diversified, closed-end management investment vehicle. Its primary aim is to produce current income that is not subject to regular U.S. Federal income tax, with a secondary objective of achieving total return. The firm maintains its principal operations in Chicago, Illinois.
Municipal bond closed-end funds (CEFs) are seeing narrowing discounts, with NXP and MHF offering the most compelling value in the space at present. Leverage costs are easing as the Fed cuts rates, which should improve distribution coverage and make leveraged muni CEFs more attractive. Of course, there are always risks that include increased volatility from leverage and sensitivity to long-term Treasury rates, but we've seen long-term rate stabilization within a fairly narrow range.
RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ - Get Free Report)'s stock price dropped 1.1% during trading on Monday. The stock traded as low as $14.70 and last traded at $14.71. Approximately 13,002 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 30,732 shares. The
RiverNorth Managed Duration Municipal Income Fund II, Inc. (NYSEARCA:RMMZ - Get Free Report) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 52,900 shares, an increase of 45.3% from the September 30th total of 36,400 shares. Based on an average
RMMZ offers unique swap opportunities and diversification via a hybrid muni bond and fund-of-funds approach, but there are some potential drawbacks. The current discount has narrowed, making RMMZ less attractive relative to its sister funds for considering. The distribution yield is high at 7.8%, but overdistribution leads to a mix of tax-exempt income and return of capital, impacting sustainability and tax treatment.
What if I told you we've got a shot at grabbing 2 cheap muni bonds that kick out huge dividends—I'm talking 7.5% and higher—and those payouts are tax-free too?