RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Trading Down 0.2% – Here’s Why

Shares of RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) fell 0.2% during trading on Wednesday . The company traded as low as $15.27 and last traded at $15.28. 13,263 shares were traded during mid-day trading, a decline of 50% from the average session volume of 26,433 shares. The stock had previously closed at $15.31.

RiverNorth Opportunistic Municipal Income Fund Price Performance

The business’s 50-day moving average price is $15.26 and its 200 day moving average price is $15.02.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.0889 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Monday, June 15th.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

A number of large investors have recently modified their holdings of RMI. Gateway Wealth Partners LLC boosted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 152.4% in the first quarter. Gateway Wealth Partners LLC now owns 106,236 shares of the company’s stock valued at $1,600,000 after acquiring an additional 64,151 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 252.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 72,050 shares of the company’s stock valued at $1,031,000 after acquiring an additional 51,625 shares during the period. Envestnet Asset Management Inc. bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the third quarter valued at approximately $494,000. Bank of America Corp DE boosted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 176.7% in the third quarter. Bank of America Corp DE now owns 45,533 shares of the company’s stock valued at $666,000 after acquiring an additional 29,076 shares during the period. Finally, Arlington Capital Management Inc. bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the third quarter valued at approximately $253,000.

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.