RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Insider Buys $99,495.07 in Stock

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) insider Financial Holdings Rivernorth acquired 6,857 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was purchased at an average price of $14.51 per share, for a total transaction of $99,495.07. Following the acquisition, the insider directly owned 49,588 shares in the company, valued at $719,521.88. This represents a 16.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Wednesday, November 5th, Financial Holdings Rivernorth purchased 1,226 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was bought at an average price of $14.67 per share, with a total value of $17,985.42.
• On Tuesday, November 4th, Financial Holdings Rivernorth bought 6,857 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was bought at an average price of $14.69 per share, with a total value of $100,729.33.
• On Monday, November 3rd, Financial Holdings Rivernorth acquired 1,640 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.65 per share, with a total value of $24,026.00.
• On Friday, October 31st, Financial Holdings Rivernorth purchased 1,032 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.66 per share, with a total value of $15,129.12.
• On Friday, October 24th, Financial Holdings Rivernorth bought 4,277 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired at an average cost of $14.38 per share, with a total value of $61,503.26.
• On Wednesday, October 22nd, Financial Holdings Rivernorth acquired 4,277 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was bought at an average price 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 stock was bought 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 purchased at an average price of $14.60 per share, with a total value of $40,792.40.
• On Friday, October 17th, Financial Holdings Rivernorth bought 4,138 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average price of $14.62 per share, with a total value 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 price of $14.69 per share, for a total transaction of $44,672.29.

RiverNorth Opportunistic Municipal Income Fund Price Performance

RiverNorth Opportunistic Municipal Income Fund stock traded up $0.14 during mid-day trading on Monday, reaching $14.60. 21,164 shares of the company’s stock were exchanged, compared to its average volume of 28,885. RiverNorth Opportunistic Municipal Income Fund, Inc. has a twelve month low of $13.63 and a twelve month high of $16.74. The company has a fifty day moving average of $14.48 and a 200-day moving average of $14.32.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

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

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

Several hedge funds have recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC lifted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 12.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,595 shares of the company’s stock worth $379,000 after buying an additional 2,950 shares during the last quarter. Apollon Wealth Management LLC increased its position in shares of RiverNorth Opportunistic Municipal Income Fund by 129.6% during the first quarter. Apollon Wealth Management LLC now owns 24,535 shares of the company’s stock worth $366,000 after purchasing an additional 13,850 shares in the last quarter. River Street Advisors LLC acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the 2nd quarter valued at about $294,000. Bank of America Corp DE grew its stake 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 buying an additional 640 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in RiverNorth Opportunistic Municipal Income Fund in the third quarter valued at approximately $494,000.

About RiverNorth Opportunistic Municipal Income Fund

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.