RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Trading Down 0.9%

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was down 0.9% on Monday . The company traded as low as $15.89 and last traded at $15.89. Approximately 31,115 shares were traded during mid-day trading, an increase of 98% from the average daily volume of 15,706 shares. The stock had previously closed at $16.03.

RiverNorth Opportunistic Municipal Income Fund Price Performance

The business has a 50 day moving average price of $15.91 and a two-hundred day moving average price of $15.89.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.0965 per share. This represents a $1.16 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date is Friday, September 13th.

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 company. Fairhaven Wealth Management LLC purchased a new stake in RiverNorth Opportunistic Municipal Income Fund during the first quarter valued at approximately $290,000. Robinson Capital Management LLC purchased a new stake in RiverNorth Opportunistic Municipal Income Fund during the fourth quarter valued at approximately $687,000. Finally, Wolverine Asset Management LLC raised its position in RiverNorth Opportunistic Municipal Income Fund by 622.4% during the fourth quarter. Wolverine Asset Management LLC now owns 63,712 shares of the company’s stock valued at $970,000 after purchasing an additional 54,892 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.