RiverNorth Opportunistic Municipal Income Fund, Inc. (RMI) To Go Ex-Dividend on July 15th

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) announced a monthly dividend on Wednesday, July 1st. Shareholders 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 yield of 6.8%. The ex-dividend date is Wednesday, July 15th.

RiverNorth Opportunistic Municipal Income Fund Stock Performance

Shares of RMI stock opened at $15.62 on Friday. RiverNorth Opportunistic Municipal Income Fund has a fifty-two week low of $13.71 and a fifty-two week high of $16.36. The business has a fifty day simple moving average of $15.30 and a 200-day simple moving average of $15.13.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in RiverNorth Opportunistic Municipal Income Fund by 35.6% during the fourth 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 last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the fourth quarter valued at approximately $161,000. Noble Wealth Management PBC increased its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 6.8% during the 4th quarter. Noble Wealth Management PBC now owns 15,492 shares of the company’s stock worth $222,000 after purchasing an additional 992 shares in the last quarter. Osaic Holdings Inc. increased its stake 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 purchasing an additional 2,315 shares in the last quarter. Finally, Arlington Capital Management Inc. acquired a new position in shares of RiverNorth Opportunistic Municipal Income Fund during the 3rd quarter worth approximately $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.