Financial Holdings Rivernorth Buys 3,041 Shares of RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Stock

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) insider Financial Holdings Rivernorth acquired 3,041 shares of the company’s stock in a transaction on Thursday, October 16th. The shares were acquired at an average cost of $14.69 per share, for a total transaction of $44,672.29. Following the completion of the acquisition, the insider owned 9,322 shares of the company’s stock, valued at approximately $136,940.18. The trade was a 48.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, October 15th, Financial Holdings Rivernorth purchased 4,138 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.74 per share, for a total transaction of $60,994.12.
• On Tuesday, October 14th, Financial Holdings Rivernorth purchased 1,240 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.68 per share, for a total transaction of $18,203.20.
• On Monday, October 13th, Financial Holdings Rivernorth purchased 903 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.65 per share, for a total transaction of $13,228.95.

RiverNorth Opportunistic Municipal Income Fund Price Performance

Shares of RiverNorth Opportunistic Municipal Income Fund stock opened at $14.52 on Friday. 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 $14.30 and its 200-day moving average price is $14.28.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

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

Institutional Investors Weigh In On RiverNorth Opportunistic Municipal Income Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Concurrent Investment Advisors LLC lifted its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 12.5% in the second quarter. Concurrent Investment Advisors LLC now owns 26,595 shares of the company’s stock worth $379,000 after buying an additional 2,950 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of RiverNorth Opportunistic Municipal Income Fund by 129.6% in the first quarter. Apollon Wealth Management LLC now owns 24,535 shares of the company’s stock worth $366,000 after purchasing an additional 13,850 shares during the last quarter. River Street Advisors LLC bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the second quarter worth approximately $294,000. Advisor Resource Council bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the first quarter worth approximately $235,000. Finally, Bank of America Corp DE increased its position in shares of RiverNorth Opportunistic Municipal Income Fund by 574.5% in the second quarter. Bank of America Corp DE now owns 16,457 shares of the company’s stock worth $235,000 after purchasing an additional 14,017 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.