RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Insider Purchases $99,495.07 in Stock

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) insider Financial Holdings Rivernorth purchased 6,857 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average price of $14.51 per share, with a total value of $99,495.07. Following the completion of the purchase, the insider owned 49,588 shares of the company’s stock, valued at $719,521.88. This trade represents a 16.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Financial Holdings Rivernorth also recently made the following trade(s):

• On Tuesday, November 11th, Financial Holdings Rivernorth acquired 1,657 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was bought at an average cost of $14.65 per share, with a total value of $24,275.05.
• On Monday, November 10th, Financial Holdings Rivernorth bought 1,301 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average cost of $14.54 per share, for a total transaction of $18,916.54.
• On Wednesday, November 5th, Financial Holdings Rivernorth purchased 1,226 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was bought at an average price of $14.67 per share, for a total transaction of $17,985.42.
• On Tuesday, November 4th, Financial Holdings Rivernorth acquired 6,857 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average cost of $14.69 per share, with a total value of $100,729.33.
• On Monday, November 3rd, Financial Holdings Rivernorth acquired 1,640 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average price of $14.65 per share, for a total transaction of $24,026.00.
• On Friday, October 31st, Financial Holdings Rivernorth bought 1,032 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.66 per share, for a total transaction of $15,129.12.
• On Friday, October 24th, Financial Holdings Rivernorth purchased 4,277 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average cost of $14.38 per share, with a total value of $61,503.26.
• On Wednesday, October 22nd, Financial Holdings Rivernorth purchased 4,277 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average price of $14.45 per share, for a total transaction of $61,802.65.
• On Tuesday, October 21st, Financial Holdings Rivernorth acquired 2,891 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost of $14.60 per share, for a total transaction of $42,208.60.
• On Monday, October 20th, Financial Holdings Rivernorth bought 2,794 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired at an average price of $14.60 per share, with a total value of $40,792.40.

RiverNorth Opportunistic Municipal Income Fund Stock Down 0.1%

Shares of RMI stock opened at $14.66 on Thursday. The stock’s fifty day moving average price is $14.53 and its two-hundred day moving average price is $14.33. RiverNorth Opportunistic Municipal Income Fund, Inc. has a fifty-two week low of $13.63 and a fifty-two week high of $16.74.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.0945 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) annualized dividend and a yield of 7.7%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RMI. Envestnet Asset Management Inc. acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the 3rd quarter valued at approximately $494,000. Plancorp LLC bought a new position in RiverNorth Opportunistic Municipal Income Fund in the 3rd quarter valued at approximately $308,000. River Street Advisors LLC acquired a new stake in RiverNorth Opportunistic Municipal Income Fund in the second quarter valued at approximately $294,000. Bank of America Corp DE boosted its position in RiverNorth Opportunistic Municipal Income Fund by 574.5% in the second quarter. Bank of America Corp DE now owns 16,457 shares of the company’s stock valued at $235,000 after buying an additional 14,017 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 129.6% during the first quarter. Apollon Wealth Management LLC now owns 24,535 shares of the company’s stock worth $366,000 after buying an additional 13,850 shares during the last quarter.

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.