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

Shares of RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) fell 0.2% on Wednesday . The stock traded as low as $14.44 and last traded at $14.4650. 39,670 shares changed hands during mid-day trading, an increase of 38% from the average session volume of 28,767 shares. The stock had previously closed at $14.49.

RiverNorth Opportunistic Municipal Income Fund Stock Down 0.2%

The stock has a fifty day moving average price of $14.57 and a 200-day moving average price of $14.35.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

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

Insider Activity at RiverNorth Opportunistic Municipal Income Fund

In other news, insider Financial Holdings Rivernorth bought 5,558 shares of the stock in a transaction dated Monday, November 24th. The shares were acquired at an average price of $14.48 per share, with a total value of $80,479.84. Following the acquisition, the insider owned 75,455 shares in the company, valued at $1,092,588.40. This trade represents a 7.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 71,178 shares of company stock valued at $1,037,161.

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

Large investors have recently made changes to their positions in the business. UBS Group AG raised its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 2.8% in the third quarter. UBS Group AG now owns 161,653 shares of the company’s stock valued at $2,363,000 after buying an additional 4,472 shares during the last quarter. Bank of America Corp DE increased its position in RiverNorth Opportunistic Municipal Income Fund by 176.7% in the 3rd 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 in the last quarter. Envestnet Asset Management Inc. bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the third quarter worth about $494,000. Concurrent Investment Advisors LLC lifted its position 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 purchasing an additional 6,875 shares in the last quarter. Finally, Plancorp LLC acquired a new position in shares of RiverNorth Opportunistic Municipal Income Fund during the third quarter worth approximately $308,000.

About RiverNorth Opportunistic Municipal Income Fund

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.