RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Trading Down 0.2% – Here’s What Happened

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI)’s share price dropped 0.2% on Wednesday . The stock traded as low as $15.27 and last traded at $15.28. Approximately 13,263 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 26,433 shares. The stock had previously closed at $15.31.

RiverNorth Opportunistic Municipal Income Fund Price Performance

The company’s 50-day moving average is $15.26 and its 200 day moving average is $15.02.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.0889 per share. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its position in 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 buying an additional 640 shares during the period. Janney Montgomery Scott LLC acquired a new stake in RiverNorth Opportunistic Municipal Income Fund during the 4th quarter worth about $161,000. Noble Wealth Management PBC grew its stake in RiverNorth Opportunistic Municipal Income Fund by 6.8% during the 4th quarter. Noble Wealth Management PBC now owns 15,492 shares of the company’s stock valued at $222,000 after acquiring an additional 992 shares in the last quarter. Osaic Holdings Inc. grew its stake in RiverNorth Opportunistic Municipal Income Fund by 17.0% during the 2nd quarter. Osaic Holdings Inc. now owns 15,909 shares of the company’s stock valued at $227,000 after acquiring an additional 2,315 shares in the last quarter. Finally, Arlington Capital Management Inc. acquired a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the 3rd 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.