Financial Holdings Rivernorth Acquires 4,277 Shares of RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Stock

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) insider Financial Holdings Rivernorth acquired 4,277 shares of RiverNorth Opportunistic Municipal Income Fund stock in a transaction dated Wednesday, October 22nd. The stock was purchased at an average cost of $14.45 per share, with a total value of $61,802.65. Following the completion of the purchase, the insider owned 27,699 shares of the company’s stock, valued at approximately $400,250.55. This represents a 18.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, October 21st, Financial Holdings Rivernorth acquired 2,891 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.60 per share, with a total value of $42,208.60.
• On Monday, October 20th, Financial Holdings Rivernorth acquired 2,794 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.60 per share, with a total value of $40,792.40.
• On Friday, October 17th, Financial Holdings Rivernorth acquired 4,138 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.62 per share, with a total value of $60,497.56.
• On Thursday, October 16th, Financial Holdings Rivernorth acquired 3,041 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 $44,672.29.
• On Wednesday, October 15th, Financial Holdings Rivernorth acquired 4,138 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.74 per share, with a total value of $60,994.12.
• On Tuesday, October 14th, Financial Holdings Rivernorth acquired 1,240 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.68 per share, with a total value of $18,203.20.
• On Monday, October 13th, Financial Holdings Rivernorth acquired 903 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.65 per share, with a total value of $13,228.95.

RiverNorth Opportunistic Municipal Income Fund Price Performance

Shares of NYSE RMI opened at $14.42 on Friday. The firm has a fifty day moving average price of $14.34 and a 200-day moving average price of $14.28. RiverNorth Opportunistic Municipal Income Fund, Inc. has a 1 year low of $13.63 and a 1 year high of $16.74.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.0945 dividend. 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 7.9%.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of RMI. Plancorp LLC bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund during the third quarter worth $308,000. River Street Advisors LLC bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund during the second quarter worth $294,000. Bank of America Corp DE boosted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 574.5% during the second quarter. Bank of America Corp DE now owns 16,457 shares of the company’s stock worth $235,000 after acquiring an additional 14,017 shares during the last quarter. Apollon Wealth Management LLC boosted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 129.6% during the first quarter. Apollon Wealth Management LLC now owns 24,535 shares of the company’s stock worth $366,000 after acquiring an additional 13,850 shares during the last quarter. Finally, Concurrent Investment Advisors LLC boosted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 24.2% during the first quarter. Concurrent Investment Advisors LLC now owns 23,645 shares of the company’s stock worth $353,000 after acquiring an additional 4,600 shares during the last quarter.

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.