Financial Holdings Rivernorth Acquires 5,558 Shares of RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Stock

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) insider Financial Holdings Rivernorth acquired 5,558 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were bought at an average price of $14.48 per share, for a total transaction of $80,479.84. Following the acquisition, the insider owned 75,455 shares of the company’s stock, valued at approximately $1,092,588.40. This represents a 7.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Financial Holdings Rivernorth also recently made the following trade(s):

• On Monday, November 17th, Financial Holdings Rivernorth bought 6,642 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was bought at an average price of $14.54 per share, with a total value of $96,574.68.
• On Friday, November 14th, Financial Holdings Rivernorth purchased 7,045 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average price of $14.50 per share, for a total transaction of $102,152.50.
• On Thursday, November 13th, Financial Holdings Rivernorth purchased 3,664 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was bought at an average cost of $14.60 per share, with a total value of $53,494.40.
• On Tuesday, November 11th, Financial Holdings Rivernorth acquired 1,657 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average price of $14.65 per share, with a total value of $24,275.05.
• On Monday, November 10th, Financial Holdings Rivernorth bought 1,301 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.54 per share, for a total transaction of $18,916.54.
• On Friday, November 7th, Financial Holdings Rivernorth bought 6,857 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average price of $14.51 per share, with a total value of $99,495.07.
• On Wednesday, November 5th, Financial Holdings Rivernorth purchased 1,226 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average cost of $14.67 per share, with a total value of $17,985.42.
• On Tuesday, November 4th, Financial Holdings Rivernorth acquired 6,857 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.69 per share, for a total transaction of $100,729.33.
• On Monday, November 3rd, Financial Holdings Rivernorth acquired 1,640 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average price of $14.65 per share, with a total value of $24,026.00.
• On Friday, October 31st, Financial Holdings Rivernorth bought 1,032 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average price of $14.66 per share, for a total transaction of $15,129.12.

RiverNorth Opportunistic Municipal Income Fund Trading Up 1.0%

Shares of NYSE:RMI opened at $14.65 on Thursday. RiverNorth Opportunistic Municipal Income Fund, Inc. has a twelve month low of $13.63 and a twelve month high of $16.74. The company’s 50 day moving average is $14.56 and its 200 day moving average is $14.33.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.0945 per share. This represents a c) annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend is Monday, December 15th.

Institutional Investors Weigh In On RiverNorth Opportunistic Municipal Income Fund

Several hedge funds have recently added to or reduced their stakes in RMI. Bank of America Corp DE raised its stake in shares of 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 buying an additional 640 shares during the last quarter. Osaic Holdings Inc. grew its holdings in RiverNorth Opportunistic Municipal Income Fund by 17.0% during the second quarter. Osaic Holdings Inc. now owns 15,909 shares of the company’s stock worth $227,000 after acquiring an additional 2,315 shares during the period. Arlington Capital Management Inc. acquired a new stake in RiverNorth Opportunistic Municipal Income Fund during the third quarter worth about $253,000. River Street Advisors LLC purchased a new position in RiverNorth Opportunistic Municipal Income Fund during the second quarter valued at approximately $294,000. Finally, Plancorp LLC acquired a new position in RiverNorth Opportunistic Municipal Income Fund in the third quarter valued at approximately $308,000.

About RiverNorth Opportunistic Municipal Income Fund

The RiverNorth Opportunistic Municipal Income Fund, Inc (the “Fund”) seeks to provide current income exempt from regular U.S. federal income taxes1 with a secondary objective of total return.