Financial Holdings Rivernorth Buys 6,857 Shares of RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Stock

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) insider Financial Holdings Rivernorth purchased 6,857 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were purchased at an average cost of $14.69 per share, with a total value of $100,729.33. Following the completion of the purchase, the insider owned 41,505 shares in the company, valued at $609,708.45. This represents a 19.79% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, November 5th, Financial Holdings Rivernorth acquired 1,226 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.67 per share, for a total transaction of $17,985.42.
• On Monday, November 3rd, Financial Holdings Rivernorth bought 1,640 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were 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 bought 1,032 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased 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 acquired at an average price 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 acquired 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 stock was 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 bought 2,794 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was acquired at an average price of $14.60 per share, for a total transaction 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 acquired 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 stock was acquired at an average price 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 stock was bought at an average cost of $14.74 per share, for a total transaction of $60,994.12.

RiverNorth Opportunistic Municipal Income Fund Trading Down 0.1%

Shares of NYSE:RMI opened at $14.64 on Friday. The stock has a fifty day moving average of $14.47 and a 200-day moving average of $14.31. RiverNorth Opportunistic Municipal Income Fund, Inc. has a one year low of $13.63 and a one year high of $16.74.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

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

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of RMI. Bank of America Corp DE lifted its stake in RiverNorth Opportunistic Municipal Income Fund by 35.6% during the fourth 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 in the last quarter. Osaic Holdings Inc. raised 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 acquiring an additional 2,315 shares during the period. River Street Advisors LLC acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund during the second quarter valued at approximately $294,000. Plancorp LLC purchased a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the 3rd quarter valued at approximately $308,000. Finally, Concurrent Investment Advisors LLC boosted its stake in RiverNorth Opportunistic Municipal Income Fund by 24.2% in the 1st quarter. Concurrent Investment Advisors LLC now owns 23,645 shares of the company’s stock worth $353,000 after purchasing an additional 4,600 shares during the period.

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.