RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Get Free Report) declared a monthly dividend on Wednesday, July 1st. Stockholders of record on Wednesday, July 15th will be given a dividend of 0.0889 per share on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Wednesday, July 15th.
RiverNorth Opportunistic Municipal Income Fund Stock Up 0.6%
Shares of RMI stock traded up $0.10 during trading hours on Thursday, reaching $15.72. The stock had a trading volume of 1,493 shares, compared to its average volume of 23,973. RiverNorth Opportunistic Municipal Income Fund has a twelve month low of $13.71 and a twelve month high of $16.36. The firm has a 50-day simple moving average of $15.29 and a 200-day simple moving average of $15.12.
Institutional Investors Weigh In On RiverNorth Opportunistic Municipal Income Fund
Several large investors have recently made changes to their positions in the company. Gateway Wealth Partners LLC boosted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 152.4% during the first quarter. Gateway Wealth Partners LLC now owns 106,236 shares of the company’s stock worth $1,600,000 after buying an additional 64,151 shares during the period. Rockefeller Capital Management L.P. increased its position in RiverNorth Opportunistic Municipal Income Fund by 252.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 72,050 shares of the company’s stock valued at $1,031,000 after acquiring an additional 51,625 shares during the period. Envestnet Asset Management Inc. bought a new stake in RiverNorth Opportunistic Municipal Income Fund during the 3rd quarter valued at $494,000. Bank of America Corp DE raised its stake in RiverNorth Opportunistic Municipal Income Fund by 176.7% during the 3rd quarter. Bank of America Corp DE now owns 45,533 shares of the company’s stock valued at $666,000 after acquiring an additional 29,076 shares in the last quarter. Finally, Arlington Capital Management Inc. acquired a new position in RiverNorth Opportunistic Municipal Income Fund during the 3rd quarter worth $253,000.
RiverNorth Opportunistic Municipal Income Fund Company Profile
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.
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