RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Shares Down 1.4% – Here’s What Happened

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) shares traded down 1.4% on Friday. The stock traded as low as $13.48 and last traded at $13.57. 6,981 shares changed hands during trading, a decline of 69% from the average session volume of 22,410 shares. The stock had previously closed at $13.76.

RiverNorth Opportunistic Municipal Income Fund Trading Down 1.4%

The stock has a fifty day moving average of $14.39 and a 200-day moving average of $15.05.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be issued a $0.0889 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 7.9%.

Institutional Investors Weigh In On RiverNorth Opportunistic Municipal Income Fund

A hedge fund recently raised its position in RiverNorth Opportunistic Municipal Income Fund stock. Rockefeller Capital Management L.P. raised its position in RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) by 252.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 72,050 shares of the company’s stock after buying an additional 51,625 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in RiverNorth Opportunistic Municipal Income Fund were worth $1,031,000 as of its most recent filing with the SEC.

RiverNorth Opportunistic Municipal Income Fund Company Profile

RiverNorth Opportunistic Municipal Income Fund (NYSE: RMI) is a closed-end investment fund that seeks to provide current income exempt from regular U.S. federal income tax. The fund invests primarily in municipal securities issued by states, municipalities and other public entities to finance projects and public services.

RMI uses an opportunistic approach to the municipal bond market, with the flexibility to invest across different maturities, credit qualities and sectors. Its portfolio may include investment-grade and below-investment-grade municipal obligations, allowing the fund to pursue income opportunities while managing credit and interest-rate risks.