RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Trading Down 0.9%

Posted by Cynthia Vaughn on Jul 29th, 2024

Shares of RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Get Free Report) fell 0.9% on Monday . The company traded as low as $15.89 and last traded at $15.89. 31,115 shares changed hands during trading, an increase of 98% from the average session volume of 15,706 shares. The stock had previously closed at $16.03.

RiverNorth Opportunistic Municipal Income Fund Stock Performance

The business has a 50-day moving average price of $15.91 and a two-hundred day moving average price of $15.89.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.0965 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.16 dividend on an annualized basis and a yield of 7.29%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Robinson Capital Management LLC lifted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 1.5% in the first quarter. Robinson Capital Management LLC now owns 45,757 shares of the company’s stock valued at $707,000 after buying an additional 676 shares during the last quarter. Fairhaven Wealth Management LLC acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the first quarter valued at approximately $290,000. Finally, Wolverine Asset Management LLC lifted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 622.4% in the fourth quarter. Wolverine Asset Management LLC now owns 63,712 shares of the company’s stock valued at $970,000 after buying an additional 54,892 shares during the last quarter.

About RiverNorth Opportunistic Municipal Income Fund

(Get Free Report)

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.