RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Stock Price Up 3.7% – Time to Buy?

by · The Markets Daily

Shares of RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Get Free Report) traded up 3.7% during trading on Thursday . The company traded as high as $14.69 and last traded at $14.6840. 35,992 shares changed hands during trading, an increase of 64% from the average session volume of 21,913 shares. The stock had previously closed at $14.16.

RiverNorth Opportunistic Municipal Income Fund Price Performance

The stock’s 50-day moving average price is $15.29 and its two-hundred day moving average price is $15.33.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were paid a dividend of $0.0889 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a c) annualized dividend and a yield of 7.3%.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

An institutional investor recently raised its position in RiverNorth Opportunistic Municipal Income Fund stock. Gateway Wealth Partners LLC lifted its stake in RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Free Report) by 152.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,236 shares of the company’s stock after purchasing an additional 64,151 shares during the quarter. Gateway Wealth Partners LLC’s holdings in RiverNorth Opportunistic Municipal Income Fund were worth $1,600,000 as of its most recent filing with the Securities & Exchange Commission.

About RiverNorth Opportunistic Municipal Income Fund

(Get Free Report)

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.

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