RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Shares Down 0.3% – Here’s What Happened

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) shares traded down 0.3% during mid-day trading on Monday . The company traded as low as $14.86 and last traded at $14.92. 3,108 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 31,222 shares. The stock had previously closed at $14.97.

RiverNorth Opportunistic Municipal Income Fund Stock Performance

The stock has a 50 day moving average price of $15.28 and a 200 day moving average price of $14.80.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.0889 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 35.6% during the fourth quarter. Bank of America Corp DE now owns 2,440 shares of the company’s stock valued at $37,000 after purchasing an additional 640 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the fourth quarter valued at about $161,000. Noble Wealth Management PBC increased its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 6.8% in the fourth quarter. Noble Wealth Management PBC now owns 15,492 shares of the company’s stock valued at $222,000 after buying an additional 992 shares during the period. Osaic Holdings Inc. increased its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 17.0% in the second quarter. Osaic Holdings Inc. now owns 15,909 shares of the company’s stock valued at $227,000 after buying an additional 2,315 shares during the period. Finally, Arlington Capital Management Inc. acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the third quarter valued at about $253,000.

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.