Insider Buying: RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Insider Buys 1,032 Shares of Stock

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) insider Financial Holdings Rivernorth bought 1,032 shares of the stock in a transaction on Friday, October 31st. The stock was purchased at an average price of $14.66 per share, with a total value of $15,129.12. Following the completion of the purchase, the insider owned 33,008 shares of the company’s stock, valued at $483,897.28. This represents a 3.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, November 3rd, Financial Holdings Rivernorth bought 1,640 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average price of $14.65 per share, with a total value of $24,026.00.
• On Friday, October 24th, Financial Holdings Rivernorth acquired 4,277 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought 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 bought at an average price of $14.45 per share, for a total transaction of $61,802.65.
• On Tuesday, October 21st, Financial Holdings Rivernorth acquired 2,891 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average price of $14.60 per share, for a total transaction of $42,208.60.
• On Monday, October 20th, Financial Holdings Rivernorth acquired 2,794 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average price of $14.60 per share, for a total transaction of $40,792.40.
• On Friday, October 17th, Financial Holdings Rivernorth acquired 4,138 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average price of $14.62 per share, for a total transaction of $60,497.56.
• On Thursday, October 16th, Financial Holdings Rivernorth acquired 3,041 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average price of $14.69 per share, with a total value of $44,672.29.
• On Wednesday, October 15th, Financial Holdings Rivernorth acquired 4,138 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average price of $14.74 per share, with a total value of $60,994.12.
• On Tuesday, October 14th, Financial Holdings Rivernorth acquired 1,240 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought 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 bought at an average price of $14.65 per share, with a total value of $13,228.95.

RiverNorth Opportunistic Municipal Income Fund Trading Down 0.2%

Shares of NYSE:RMI traded down $0.03 on Monday, hitting $14.68. 8,254 shares of the company were exchanged, compared to its average volume of 28,976. RiverNorth Opportunistic Municipal Income Fund, Inc. has a 1-year low of $13.63 and a 1-year high of $16.74. The stock’s 50 day moving average price is $14.41 and its 200 day moving average price is $14.30.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

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

Institutional Investors Weigh In On RiverNorth Opportunistic Municipal Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC lifted its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 25.9% during the third quarter. Concurrent Investment Advisors LLC now owns 33,470 shares of the company’s stock worth $489,000 after buying an additional 6,875 shares during the period. Plancorp LLC acquired a new position in RiverNorth Opportunistic Municipal Income Fund during the third quarter valued at $308,000. Osaic Holdings Inc. lifted its position in 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 purchasing an additional 2,315 shares during the period. Bank of America Corp DE lifted its position in RiverNorth Opportunistic Municipal Income Fund by 574.5% during the second quarter. Bank of America Corp DE now owns 16,457 shares of the company’s stock valued at $235,000 after purchasing an additional 14,017 shares during the period. Finally, River Street Advisors LLC acquired a new position in RiverNorth Opportunistic Municipal Income Fund during the second quarter valued at $294,000.

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.