Insider Buying: RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Insider Purchases $18,203.20 in Stock

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) insider Financial Holdings Rivernorth acquired 1,240 shares of RiverNorth Opportunistic Municipal Income Fund stock in a transaction on Tuesday, October 14th. The stock was acquired at an average cost of $14.68 per share, for a total transaction of $18,203.20. Following the completion of the purchase, the insider owned 2,143 shares of the company’s stock, valued at approximately $31,459.24. The trade was a 137.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

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

RiverNorth Opportunistic Municipal Income Fund Stock Down 0.1%

Shares of RMI stock opened at $14.62 on Friday. RiverNorth Opportunistic Municipal Income Fund, Inc. has a 52-week low of $13.63 and a 52-week high of $16.74. The firm’s 50 day moving average price is $14.29 and its two-hundred day moving average price is $14.28.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

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

Institutional Investors Weigh In On RiverNorth Opportunistic Municipal Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in RMI. Bank of America Corp DE increased its stake in RiverNorth Opportunistic Municipal Income Fund by 35.6% in the 4th quarter. Bank of America Corp DE now owns 2,440 shares of the company’s stock valued at $37,000 after buying an additional 640 shares during the last quarter. Osaic Holdings Inc. increased its stake in RiverNorth Opportunistic Municipal Income Fund by 17.0% in the 2nd quarter. Osaic Holdings Inc. now owns 15,909 shares of the company’s stock valued at $227,000 after buying an additional 2,315 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in RiverNorth Opportunistic Municipal Income Fund by 12.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,595 shares of the company’s stock valued at $379,000 after buying an additional 2,950 shares during the last quarter. Apollon Wealth Management LLC increased its stake in RiverNorth Opportunistic Municipal Income Fund by 129.6% in the 1st quarter. Apollon Wealth Management LLC now owns 24,535 shares of the company’s stock valued at $366,000 after buying an additional 13,850 shares during the last quarter. Finally, Advisor Resource Council acquired a new stake in RiverNorth Opportunistic Municipal Income Fund in the 1st quarter valued at $235,000.

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.