Form 4: RiverNorth Capital Management Transfers Shares in RMMZ Fund

RiverNorth Capital Management, LLC transferred 47,687 common shares of RiverNorth Managed Duration Municipal Income Fund II, Inc. to a sister company.

Summary

• RiverNorth Capital Management, LLC, an adviser to RiverNorth Managed Duration Municipal Income Fund II, Inc. (RMMZ), transferred 47,687 common shares of the fund.
• The shares were transferred to a sister company within the same overall organization.
• The transfer was not a sale and did not involve a transaction price.

Sentiment

Score: 5

Explanation: The document describes a routine internal transfer of shares, which is neither positive nor negative for the fund's performance or outlook.

Industry Context

This type of transaction is common within large financial organizations for internal restructuring and does not typically indicate a change in the fund's strategy or performance.

Comparison to Industry Standards

• Internal share transfers are a standard practice among investment management firms and are not unusual.
• Similar transactions can be seen across various asset management companies when reorganizing holdings between related entities.

Related Party Transactions

• The transfer of shares to a sister company is a related party transaction.

Stakeholder Impact

• The share transfer is unlikely to have a direct impact on shareholders as it is an internal transaction.

Key Dates

Keywords

RiverNorth Capital Management, RMMZ, share transfer, beneficial ownership, municipal income fund