RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) President Acquires $22,608.00 in Stock

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) President Patrick W. Galley purchased 1,600 shares of RiverNorth Opportunistic Municipal Income Fund stock in a transaction that occurred on Wednesday, April 9th. The shares were bought at an average price of $14.13 per share, with a total value of $22,608.00. Following the transaction, the president now owns 3,600 shares of the company’s stock, valued at $50,868. This trade represents a 80.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

RiverNorth Opportunistic Municipal Income Fund Trading Down 1.3 %

RMI opened at $13.96 on Friday. RiverNorth Opportunistic Municipal Income Fund, Inc. has a twelve month low of $13.63 and a twelve month high of $16.74. The company’s 50-day moving average price is $15.29 and its two-hundred day moving average price is $15.60.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.0945 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.13 annualized dividend and a yield of 8.12%.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of the company. Logan Stone Capital LLC lifted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 187.5% during the 4th quarter. Logan Stone Capital LLC now owns 112,766 shares of the company’s stock valued at $1,698,000 after buying an additional 73,541 shares during the last quarter. Wolverine Asset Management LLC boosted its position in RiverNorth Opportunistic Municipal Income Fund by 133.4% during the fourth quarter. Wolverine Asset Management LLC now owns 87,801 shares of the company’s stock worth $1,322,000 after purchasing an additional 50,176 shares during the period. Independent Advisor Alliance purchased a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the fourth quarter worth about $629,000. LPL Financial LLC bought a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the fourth quarter valued at approximately $371,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of RiverNorth Opportunistic Municipal Income Fund during the 4th quarter valued at approximately $337,000.

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.