RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) President Patrick W. Galley Acquires 1,600 Shares

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) President Patrick W. Galley acquired 1,600 shares of RiverNorth Opportunistic Municipal Income Fund stock in a transaction dated Wednesday, April 9th. The shares were acquired at an average price of $14.13 per share, with a total value of $22,608.00. Following the completion of the acquisition, the president now directly owns 3,600 shares of the company’s stock, valued at approximately $50,868. The trade was a 80.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

RiverNorth Opportunistic Municipal Income Fund Stock Down 1.3 %

Shares of NYSE RMI opened at $13.96 on Friday. RiverNorth Opportunistic Municipal Income Fund, Inc. has a fifty-two week low of $13.63 and a fifty-two week high of $16.74. The firm’s 50-day simple moving average is $15.29 and its 200 day simple moving average is $15.60.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.0945 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.13 annualized dividend and a dividend yield of 8.12%.

Institutional Investors Weigh In On RiverNorth Opportunistic Municipal Income Fund

Several institutional investors have recently bought and sold shares of RMI. Bank of America Corp DE boosted its holdings in RiverNorth Opportunistic Municipal Income Fund by 35.6% during the 4th 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. Atala Financial Inc purchased a new position in RiverNorth Opportunistic Municipal Income Fund during the fourth quarter worth about $28,000. Noble Wealth Management PBC bought a new stake in RiverNorth Opportunistic Municipal Income Fund in the 4th quarter worth about $107,000. Robinson Capital Management LLC increased its stake in RiverNorth Opportunistic Municipal Income Fund by 22.3% in the 4th quarter. Robinson Capital Management LLC now owns 46,217 shares of the company’s stock valued at $696,000 after buying an additional 8,441 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 1.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 483,316 shares of the company’s stock worth $7,279,000 after buying an additional 8,865 shares in the last quarter.

RiverNorth Opportunistic Municipal Income Fund Company Profile

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.