RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Trading Down 0.9% – What’s Next?

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI)’s share price dropped 0.9% on Friday . The company traded as low as $15.27 and last traded at $15.2860. 2,780 shares were traded during trading, a decline of 88% from the average daily volume of 22,701 shares. The stock had previously closed at $15.42.

RiverNorth Opportunistic Municipal Income Fund Stock Down 0.9%

The company has a 50 day moving average of $15.37 and a 200-day moving average of $15.26.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be issued a $0.0889 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a yield of 7.0%.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

Several hedge funds have recently made changes to their positions in the business. UBS Group AG raised its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 2.8% during the third quarter. UBS Group AG now owns 161,653 shares of the company’s stock valued at $2,363,000 after acquiring an additional 4,472 shares in the last quarter. Gateway Wealth Partners LLC increased its position in RiverNorth Opportunistic Municipal Income Fund by 152.4% during the 1st quarter. Gateway Wealth Partners LLC now owns 106,236 shares of the company’s stock valued at $1,600,000 after purchasing an additional 64,151 shares during the period. Royal Bank of Canada increased its position in RiverNorth Opportunistic Municipal Income Fund by 1.2% during the 4th quarter. Royal Bank of Canada now owns 96,874 shares of the company’s stock valued at $1,386,000 after purchasing an additional 1,141 shares during the period. Rockefeller Capital Management L.P. raised its holdings in RiverNorth Opportunistic Municipal Income Fund by 252.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 72,050 shares of the company’s stock worth $1,031,000 after purchasing an additional 51,625 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in RiverNorth Opportunistic Municipal Income Fund by 176.7% in the 3rd quarter. Bank of America Corp DE now owns 45,533 shares of the company’s stock worth $666,000 after purchasing an additional 29,076 shares in the last quarter.

RiverNorth Opportunistic Municipal Income Fund Company Profile

RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) is a closed-end management investment company that seeks to deliver tax-exempt income through diversified exposure to U.S. municipal securities. The fund is structured as a non-diversified, interval fund and primarily caters to investors pursuing high-quality, tax-advantaged income from state and local government obligations.

RMI employs an opportunistic, value-oriented investment process, focusing on both traditional investment-grade bonds and specialized niches within the municipal market.