Financial Holdings Rivernorth Purchases 6,642 Shares of RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Stock

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) insider Financial Holdings Rivernorth purchased 6,642 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average cost of $14.54 per share, with a total value of $96,574.68. Following the completion of the acquisition, the insider directly owned 69,867 shares in the company, valued at approximately $1,015,866.18. This represents a 10.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, November 14th, Financial Holdings Rivernorth acquired 7,045 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average cost 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 shares were bought at an average cost of $14.60 per share, for a total transaction 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 purchased at an average cost of $14.65 per share, for a total transaction of $24,275.05.
• On Monday, November 10th, Financial Holdings Rivernorth purchased 1,301 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired at an average cost of $14.54 per share, with a total value of $18,916.54.
• On Friday, November 7th, Financial Holdings Rivernorth acquired 6,857 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average cost of $14.51 per share, with a total value of $99,495.07.
• On Wednesday, November 5th, Financial Holdings Rivernorth bought 1,226 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average price 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 shares were acquired 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 shares were acquired at an average price of $14.65 per share, for a total transaction of $24,026.00.
• On Friday, October 31st, Financial Holdings Rivernorth bought 1,032 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average price of $14.66 per share, for a total transaction of $15,129.12.
• On Friday, October 24th, Financial Holdings Rivernorth purchased 4,277 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average price of $14.38 per share, for a total transaction of $61,503.26.

RiverNorth Opportunistic Municipal Income Fund Trading Up 0.7%

NYSE RMI traded up $0.10 during trading on Tuesday, hitting $14.55. The stock had a trading volume of 23,702 shares, compared to its average volume of 28,911. RiverNorth Opportunistic Municipal Income Fund, Inc. has a 12 month low of $13.63 and a 12 month high of $16.74. The company’s 50-day moving average price is $14.56 and its two-hundred day moving average price is $14.33.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $0.0945 per share. This represents a c) dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend is Monday, December 15th.

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its stake 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 acquiring an additional 640 shares during the period. Osaic Holdings Inc. boosted its position in shares of 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 worth $227,000 after acquiring an additional 2,315 shares in the last quarter. Arlington Capital Management Inc. acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the 3rd quarter valued at $253,000. River Street Advisors LLC bought a new position in RiverNorth Opportunistic Municipal Income Fund in the second quarter valued at about $294,000. Finally, Plancorp LLC bought a new stake in shares of RiverNorth Opportunistic Municipal Income Fund during the 3rd quarter valued at approximately $308,000.

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.