RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Insider Purchases $15,129.12 in Stock

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) insider Financial Holdings Rivernorth acquired 1,032 shares of RiverNorth Opportunistic Municipal Income Fund stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average cost of $14.66 per share, with a total value of $15,129.12. Following the purchase, the insider directly owned 33,008 shares of the company’s stock, valued at $483,897.28. This represents a 3.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, November 4th, Financial Holdings Rivernorth acquired 6,857 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was acquired at an average cost of $14.69 per share, with a total value of $100,729.33.
• On Monday, November 3rd, Financial Holdings Rivernorth purchased 1,640 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired at an average cost of $14.65 per share, for a total transaction of $24,026.00.
• On Friday, October 24th, Financial Holdings Rivernorth purchased 4,277 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired at an average cost of $14.38 per share, for a total transaction of $61,503.26.
• On Wednesday, October 22nd, Financial Holdings Rivernorth purchased 4,277 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired at an average cost of $14.45 per share, for a total transaction of $61,802.65.
• On Tuesday, October 21st, Financial Holdings Rivernorth purchased 2,891 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired at an average cost of $14.60 per share, for a total transaction of $42,208.60.
• On Monday, October 20th, Financial Holdings Rivernorth purchased 2,794 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired at an average cost of $14.60 per share, for a total transaction of $40,792.40.
• On Friday, October 17th, Financial Holdings Rivernorth purchased 4,138 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired at an average cost of $14.62 per share, for a total transaction of $60,497.56.
• On Thursday, October 16th, Financial Holdings Rivernorth purchased 3,041 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired at an average cost of $14.69 per share, for a total transaction of $44,672.29.
• On Wednesday, October 15th, Financial Holdings Rivernorth purchased 4,138 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired 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 shares were acquired at an average cost of $14.68 per share, for a total transaction of $18,203.20.

RiverNorth Opportunistic Municipal Income Fund Stock Down 0.1%

Shares of RMI stock opened at $14.65 on Thursday. The business’s fifty day simple moving average is $14.46 and its 200-day simple moving average is $14.31. RiverNorth Opportunistic Municipal Income Fund, Inc. has a 12-month low of $13.63 and a 12-month high of $16.74.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a dividend of $0.0945 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%.

Institutional Investors Weigh In On RiverNorth Opportunistic Municipal Income Fund

A number of large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. purchased a new stake in shares of RiverNorth Opportunistic Municipal Income Fund during the third quarter valued at $494,000. Concurrent Investment Advisors LLC grew its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 25.9% during the third quarter. Concurrent Investment Advisors LLC now owns 33,470 shares of the company’s stock valued at $489,000 after buying an additional 6,875 shares during the last quarter. Plancorp LLC purchased a new stake in shares of RiverNorth Opportunistic Municipal Income Fund during the third quarter valued at $308,000. Osaic Holdings Inc. grew its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 17.0% during the second 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. Finally, Bank of America Corp DE grew its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 574.5% during the second quarter. Bank of America Corp DE now owns 16,457 shares of the company’s stock valued at $235,000 after buying an additional 14,017 shares during 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.