RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Stock Price Up 0% – What’s Next?

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI)’s stock price rose 0% during trading on Tuesday . The company traded as high as $15.11 and last traded at $14.9850. Approximately 37,009 shares were traded during trading, an increase of 67% from the average daily volume of 22,114 shares. The stock had previously closed at $14.98.

RiverNorth Opportunistic Municipal Income Fund Stock Up 0.0%

The stock’s fifty day simple moving average is $14.56 and its 200-day simple moving average is $14.40.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $0.0889 dividend. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Monday, March 16th.

Insider Transactions at RiverNorth Opportunistic Municipal Income Fund

In related news, insider Financial Holdings Rivernorth purchased 3,941 shares of RiverNorth Opportunistic Municipal Income Fund stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average price of $14.47 per share, with a total value of $57,026.27. Following the completion of the transaction, the insider directly owned 84,454 shares of the company’s stock, valued at $1,222,049.38. This represents a 4.89% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased a total of 42,949 shares of company stock worth $623,538 over the last 90 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RMI. Arlington Capital Management Inc. lifted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 6.6% during the 4th quarter. Arlington Capital Management Inc. now owns 18,442 shares of the company’s stock worth $264,000 after buying an additional 1,141 shares during the last quarter. Noble Wealth Management PBC grew its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 6.8% during the 4th quarter. Noble Wealth Management PBC now owns 15,492 shares of the company’s stock valued at $222,000 after purchasing an additional 992 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 176.7% during the 3rd quarter. Bank of America Corp DE now owns 45,533 shares of the company’s stock valued at $666,000 after purchasing an additional 29,076 shares during the last quarter. UBS Group AG increased its position in 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 worth $2,363,000 after purchasing an additional 4,472 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in RiverNorth Opportunistic Municipal Income Fund in the 3rd quarter valued at approximately $494,000.

RiverNorth Opportunistic Municipal Income Fund Company 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.