Insider Buying: RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Insider Acquires $24,275.05 in Stock

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) insider Financial Holdings Rivernorth bought 1,657 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was acquired at an average price of $14.65 per share, for a total transaction of $24,275.05. Following the acquisition, the insider directly owned 52,546 shares in the company, valued at $769,798.90. This trade represents a 3.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, November 13th, Financial Holdings Rivernorth purchased 3,664 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was bought at an average cost of $14.60 per share, with a total value of $53,494.40.
• On Monday, November 10th, Financial Holdings Rivernorth purchased 1,301 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average price of $14.54 per share, with a total value of $18,916.54.
• On Friday, November 7th, Financial Holdings Rivernorth acquired 6,857 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average cost of $14.51 per share, for a total transaction of $99,495.07.
• On Wednesday, November 5th, Financial Holdings Rivernorth bought 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 shares were bought 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 bought at an average price of $14.65 per share, for a total transaction 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 bought at an average cost of $14.66 per share, for a total transaction of $15,129.12.
• On Friday, October 24th, Financial Holdings Rivernorth purchased 4,277 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was bought at an average cost of $14.38 per share, for a total transaction of $61,503.26.
• On Wednesday, October 22nd, Financial Holdings Rivernorth acquired 4,277 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average price of $14.45 per share, with a total value of $61,802.65.
• On Tuesday, October 21st, Financial Holdings Rivernorth acquired 2,891 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average cost of $14.60 per share, with a total value of $42,208.60.

RiverNorth Opportunistic Municipal Income Fund Stock Performance

Shares of NYSE RMI opened at $14.54 on Friday. RiverNorth Opportunistic Municipal Income Fund, Inc. has a one year low of $13.63 and a one year high of $16.74. The business’s 50-day moving average price is $14.55 and its two-hundred day moving average price is $14.33.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

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

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its position in RiverNorth Opportunistic Municipal Income Fund by 35.6% in the fourth 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 in the last quarter. Osaic Holdings Inc. raised its holdings 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 valued at $227,000 after purchasing an additional 2,315 shares in the last quarter. Arlington Capital Management Inc. acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the 3rd quarter valued at $253,000. River Street Advisors LLC acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the 2nd quarter valued at $294,000. Finally, Plancorp LLC bought a new stake in RiverNorth Opportunistic Municipal Income Fund in the third quarter worth $308,000.

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.