RiverNorth Opportunistic Municipal Income Fund, Inc. (RMI) to Issue Monthly Dividend of $0.09 on January 30th

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) declared a monthly dividend on Friday, January 2nd. Investors of record on Thursday, January 15th will be given a dividend of 0.0889 per share on Friday, January 30th. This represents a c) annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Thursday, January 15th.

RiverNorth Opportunistic Municipal Income Fund Trading Up 0.2%

Shares of NYSE:RMI traded up $0.04 during trading on Tuesday, hitting $14.62. The company’s stock had a trading volume of 1,397 shares, compared to its average volume of 24,423. RiverNorth Opportunistic Municipal Income Fund has a fifty-two week low of $13.63 and a fifty-two week high of $15.84. The stock’s 50-day moving average price is $14.52 and its two-hundred day moving average price is $14.36.

Insider Activity

In other RiverNorth Opportunistic Municipal Income Fund news, insider Financial Holdings Rivernorth bought 7,045 shares of RiverNorth Opportunistic Municipal Income Fund stock in a transaction dated Friday, November 14th. The stock was bought at an average cost of $14.50 per share, for a total transaction of $102,152.50. Following the purchase, the insider owned 63,255 shares in the company, valued at $917,197.50. This represents a 12.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders purchased 78,034 shares of company stock valued at $1,135,894.

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in RiverNorth Opportunistic Municipal Income Fund by 35.6% during the 4th quarter. Bank of America Corp DE now owns 2,440 shares of the company’s stock valued at $37,000 after acquiring an additional 640 shares during the last quarter. Noble Wealth Management PBC raised its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 6.8% in the 4th quarter. Noble Wealth Management PBC now owns 15,492 shares of the company’s stock valued at $222,000 after purchasing an additional 992 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 17.0% in the 2nd quarter. Osaic Holdings Inc. now owns 15,909 shares of the company’s stock valued at $227,000 after purchasing an additional 2,315 shares in the last quarter. Arlington Capital Management Inc. bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund during the third quarter worth about $253,000. Finally, River Street Advisors LLC bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund during the second quarter worth about $294,000.

About RiverNorth Opportunistic Municipal Income Fund

RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) is a closed-end management investment company that seeks to deliver tax-exempt income through diversified exposure to U.S. municipal securities. The fund is structured as a non-diversified, interval fund and primarily caters to investors pursuing high-quality, tax-advantaged income from state and local government obligations.

RMI employs an opportunistic, value-oriented investment process, focusing on both traditional investment-grade bonds and specialized niches within the municipal market.