Financial Holdings Rivernorth Purchases 4,138 Shares of RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Stock

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) insider Financial Holdings Rivernorth purchased 4,138 shares of the stock in a transaction dated Wednesday, October 15th. The shares were acquired at an average price of $14.74 per share, with a total value of $60,994.12. Following the transaction, the insider owned 6,281 shares in the company, valued at $92,581.94. This trade represents a 193.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, October 16th, Financial Holdings Rivernorth purchased 3,041 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired at an average price of $14.69 per share, with a total value of $44,672.29.
• On Tuesday, October 14th, Financial Holdings Rivernorth acquired 1,240 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average price of $14.68 per share, with a total value of $18,203.20.
• On Monday, October 13th, Financial Holdings Rivernorth acquired 903 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average price of $14.65 per share, with a total value of $13,228.95.

RiverNorth Opportunistic Municipal Income Fund Stock Performance

Shares of NYSE RMI opened at $14.52 on Friday. The firm has a 50 day moving average price of $14.30 and a 200 day moving average price of $14.28. RiverNorth Opportunistic Municipal Income Fund, Inc. has a 52-week low of $13.63 and a 52-week high of $16.74.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings 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 purchasing an additional 640 shares during the period. Advisor Resource Council bought a new position in RiverNorth Opportunistic Municipal Income Fund in the first quarter valued at approximately $235,000. Osaic Holdings Inc. lifted its stake in RiverNorth Opportunistic Municipal Income Fund by 17.0% in the second quarter. Osaic Holdings Inc. now owns 15,909 shares of the company’s stock valued at $227,000 after buying an additional 2,315 shares in the last quarter. River Street Advisors LLC bought a new position in RiverNorth Opportunistic Municipal Income Fund in the second quarter valued at approximately $294,000. Finally, Plancorp LLC bought a new position in RiverNorth Opportunistic Municipal Income Fund in the third quarter valued at approximately $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.