Gateway Wealth Partners LLC Raises Stock Position in RiverNorth Opportunistic Municipal Income Fund, Inc. $RMI

Gateway Wealth Partners LLC increased its position in shares of RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) by 152.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,236 shares of the company’s stock after acquiring an additional 64,151 shares during the period. Gateway Wealth Partners LLC’s holdings in RiverNorth Opportunistic Municipal Income Fund were worth $1,600,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE boosted its holdings in RiverNorth Opportunistic Municipal Income Fund by 35.6% in the 4th quarter. Bank of America Corp DE now owns 2,440 shares of the company’s stock valued at $37,000 after purchasing an additional 640 shares during the period. Osaic Holdings Inc. increased its stake in RiverNorth Opportunistic Municipal Income Fund by 17.0% in the 2nd quarter. Osaic Holdings Inc. now owns 15,909 shares of the company’s stock worth $227,000 after acquiring an additional 2,315 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of RiverNorth Opportunistic Municipal Income Fund during the 3rd quarter valued at about $494,000. UBS Group AG boosted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 2.8% during the 3rd 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 during the last quarter. Finally, Arlington Capital Management Inc. purchased a new position in shares of RiverNorth Opportunistic Municipal Income Fund during the third quarter worth about $253,000.

RiverNorth Opportunistic Municipal Income Fund Stock Performance

RMI stock opened at $15.18 on Wednesday. The company’s 50 day moving average is $15.38 and its 200 day moving average is $15.27. RiverNorth Opportunistic Municipal Income Fund, Inc. has a 1-year low of $13.71 and a 1-year high of $16.36.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

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

RiverNorth Opportunistic Municipal Income Fund 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.