RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Plans $0.09 Monthly Dividend

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) announced a monthly dividend on Wednesday, July 1st. Shareholders of record on Friday, August 14th will be paid a dividend of 0.0889 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Friday, August 14th.

RiverNorth Opportunistic Municipal Income Fund Price Performance

Shares of RMI opened at $15.64 on Thursday. The firm has a 50-day moving average of $15.29 and a 200-day moving average of $15.12. RiverNorth Opportunistic Municipal Income Fund has a one year low of $13.71 and a one year high of $16.36.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of RMI. Bank of America Corp DE increased 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 buying an additional 640 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in RiverNorth Opportunistic Municipal Income Fund in the fourth quarter valued at approximately $161,000. Noble Wealth Management PBC lifted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 6.8% in the fourth quarter. Noble Wealth Management PBC now owns 15,492 shares of the company’s stock valued at $222,000 after buying an additional 992 shares during the last quarter. Osaic Holdings Inc. boosted 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 acquiring an additional 2,315 shares during the period. Finally, Arlington Capital Management Inc. bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund during the 3rd quarter worth approximately $253,000.

About RiverNorth Opportunistic Municipal Income Fund

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.