RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Get Free Report)’s share price fell 1.4% on Friday. The company traded as low as $13.48 and last traded at $13.57. 6,981 shares traded hands during trading, a decline of 69% from the average daily volume of 22,410 shares. The stock had previously closed at $13.76.
RiverNorth Opportunistic Municipal Income Fund Price Performance
The company has a fifty day moving average price of $14.39 and a 200-day moving average price of $15.05.
RiverNorth Opportunistic Municipal Income Fund Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be issued a dividend of $0.0889 per share. This represents a $1.07 annualized dividend and a yield of 7.9%. The ex-dividend date is Tuesday, December 15th.
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 grew its position in shares of RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Free Report) by 152.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 106,236 shares of the company’s stock after acquiring an additional 64,151 shares during the quarter. Gateway Wealth Partners LLC’s holdings in RiverNorth Opportunistic Municipal Income Fund were worth $1,600,000 at the end of the most recent reporting period.
About RiverNorth Opportunistic Municipal Income Fund
RiverNorth Opportunistic Municipal Income Fund (NYSE: RMI) is a closed-end investment fund that seeks to provide current income exempt from regular U.S. federal income tax. The fund invests primarily in municipal securities issued by states, municipalities and other public entities to finance projects and public services.
RMI uses an opportunistic approach to the municipal bond market, with the flexibility to invest across different maturities, credit qualities and sectors. Its portfolio may include investment-grade and below-investment-grade municipal obligations, allowing the fund to pursue income opportunities while managing credit and interest-rate risks.
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