RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Trading Up 3.7% – What’s Next?

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Get Free Report)’s stock price traded up 3.7% on Thursday . The stock traded as high as $14.69 and last traded at $14.6840. Approximately 35,992 shares changed hands during trading, an increase of 64% from the average daily volume of 21,913 shares. The stock had previously closed at $14.16.

RiverNorth Opportunistic Municipal Income Fund Price Performance

The firm’s fifty day moving average price is $15.26 and its 200-day moving average price is $15.32.

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RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were issued a dividend of $0.0889 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 7.4%.

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

A hedge fund recently raised its stake in RiverNorth Opportunistic Municipal Income Fund stock. Gateway Wealth Partners LLC raised its stake in shares of RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Free Report) by 152.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,236 shares of the company’s stock after acquiring an additional 64,151 shares during the period. Gateway Wealth Partners LLC’s holdings in RiverNorth Opportunistic Municipal Income Fund were worth $1,600,000 as of its most recent SEC filing.

RiverNorth Opportunistic Municipal Income Fund Company Profile

(Get Free Report)

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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