RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Insider Purchases $24,275.05 in Stock

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) insider Financial Holdings Rivernorth acquired 1,657 shares of the stock in a transaction on Tuesday, November 11th. The stock was bought at an average price of $14.65 per share, with a total value of $24,275.05. Following the transaction, the insider directly owned 52,546 shares in the company, valued at approximately $769,798.90. This represents a 3.26% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, November 10th, Financial Holdings Rivernorth purchased 1,301 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average cost of $14.54 per share, for a total transaction of $18,916.54.
• On Friday, November 7th, Financial Holdings Rivernorth acquired 6,857 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was bought at an average price of $14.51 per share, with a total value of $99,495.07.
• On Wednesday, November 5th, Financial Holdings Rivernorth acquired 1,226 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average cost of $14.67 per share, for a total transaction of $17,985.42.
• On Tuesday, November 4th, Financial Holdings Rivernorth bought 6,857 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.69 per share, with a total value of $100,729.33.
• On Monday, November 3rd, Financial Holdings Rivernorth bought 1,640 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were 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 purchased 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.
• On Friday, October 24th, Financial Holdings Rivernorth acquired 4,277 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average cost of $14.38 per share, with a total value of $61,503.26.
• On Wednesday, October 22nd, Financial Holdings Rivernorth bought 4,277 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired at an average price of $14.45 per share, for a total transaction of $61,802.65.
• On Tuesday, October 21st, Financial Holdings Rivernorth bought 2,891 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was acquired at an average cost of $14.60 per share, for a total transaction of $42,208.60.
• On Monday, October 20th, Financial Holdings Rivernorth purchased 2,794 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired at an average cost of $14.60 per share, with a total value of $40,792.40.

RiverNorth Opportunistic Municipal Income Fund Trading Down 0.1%

NYSE RMI traded down $0.01 during trading hours on Wednesday, hitting $14.66. The company’s stock had a trading volume of 23,423 shares, compared to its average volume of 28,831. RiverNorth Opportunistic Municipal Income Fund, Inc. has a twelve month low of $13.63 and a twelve month high of $16.74. The stock has a fifty day moving average of $14.51 and a 200 day moving average of $14.33.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

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

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

Several institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. acquired a new stake in RiverNorth Opportunistic Municipal Income Fund during the 3rd quarter worth $494,000. Plancorp LLC acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund during the third quarter worth about $308,000. River Street Advisors LLC bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund during the 2nd quarter valued at about $294,000. Bank of America Corp DE grew its position in shares of RiverNorth Opportunistic Municipal Income Fund by 574.5% in the 2nd quarter. Bank of America Corp DE now owns 16,457 shares of the company’s stock valued at $235,000 after purchasing an additional 14,017 shares during the period. Finally, Apollon Wealth Management LLC grew its position in shares of RiverNorth Opportunistic Municipal Income Fund by 129.6% in the 1st quarter. Apollon Wealth Management LLC now owns 24,535 shares of the company’s stock valued at $366,000 after purchasing an additional 13,850 shares during the period.

RiverNorth Opportunistic Municipal Income Fund Company Profile

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.