RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Declares $0.09 Monthly Dividend

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

RiverNorth Opportunistic Municipal Income Fund Stock Up 0.3%

Shares of RMI stock traded up $0.05 during trading on Tuesday, hitting $14.63. 1,387 shares of the stock traded hands, compared to its average volume of 24,350. RiverNorth Opportunistic Municipal Income Fund has a 52-week low of $13.63 and a 52-week high of $15.84. The firm’s fifty day moving average price is $14.52 and its 200-day moving average price is $14.36.

Insider Buying and Selling

In other RiverNorth Opportunistic Municipal Income Fund news, insider Financial Holdings Rivernorth purchased 7,045 shares of the business’s stock in a transaction on Friday, November 14th. The shares were bought at an average cost of $14.50 per share, for a total transaction of $102,152.50. Following the completion of the purchase, the insider directly owned 63,255 shares of the company’s stock, valued at approximately $917,197.50. This trade represents a 12.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders bought 78,034 shares of company stock worth $1,135,894.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings 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 worth $37,000 after buying an additional 640 shares in the last quarter. Noble Wealth Management PBC boosted its holdings in 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 purchasing an additional 992 shares during the period. Osaic Holdings Inc. boosted its holdings in 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 purchasing an additional 2,315 shares during the period. Arlington Capital Management Inc. acquired a new position in RiverNorth Opportunistic Municipal Income Fund during the 3rd quarter worth $253,000. Finally, River Street Advisors LLC purchased a new stake in RiverNorth Opportunistic Municipal Income Fund during the 2nd 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.