Key Points
- Financial Holdings Rivernorth bought 5,558 shares of RiverNorth Opportunistic Municipal Income Fund (RMI) on Nov 24 at $14.48 each for $80,479.84, bringing its direct holding to 75,455 shares (a 7.95% increase) valued at about $1,092,588.40.
- The firm has been steadily accumulating RMI throughout November with multiple purchases (including lots of 6,857, 7,045 and 6,642 shares on various dates), signaling continued insider accumulation.
- RMI announced a monthly dividend of $0.0945 per share, payable Dec 31 to shareholders of record on Dec 15 (ex-dividend date Dec 15), representing an annualized yield of about 7.8%.
RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI - Get Free Report) insider Financial Holdings Rivernorth bought 5,558 shares of RiverNorth Opportunistic Municipal Income Fund stock in a transaction that occurred on Monday, November 24th. The shares were bought at an average cost of $14.48 per share, with a total value of $80,479.84. Following the acquisition, the insider directly owned 75,455 shares in the company, valued at $1,092,588.40. This trade represents a 7.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Financial Holdings Rivernorth also recently made the following trade(s):
- On Monday, November 17th, Financial Holdings Rivernorth purchased 6,642 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was bought at an average cost of $14.54 per share, for a total transaction of $96,574.68.
- On Friday, November 14th, Financial Holdings Rivernorth acquired 7,045 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average price of $14.50 per share, with a total value of $102,152.50.
- On Thursday, November 13th, Financial Holdings Rivernorth bought 3,664 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 $53,494.40.
- On Tuesday, November 11th, Financial Holdings Rivernorth bought 1,657 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 $24,275.05.
- On Monday, November 10th, Financial Holdings Rivernorth purchased 1,301 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average cost of $14.54 per share, with a total value of $18,916.54.
- On Friday, November 7th, Financial Holdings Rivernorth purchased 6,857 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average price of $14.51 per share, with a total value of $99,495.07.
- On Wednesday, November 5th, Financial Holdings Rivernorth acquired 1,226 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was purchased at an average cost 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 price of $14.69 per share, for a total transaction of $100,729.33.
- On Monday, November 3rd, Financial Holdings Rivernorth bought 1,640 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average cost of $14.65 per share, with a total value 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 acquired at an average cost of $14.66 per share, with a total value of $15,129.12.
RiverNorth Opportunistic Municipal Income Fund Stock Performance
RMI stock opened at $14.52 on Wednesday. RiverNorth Opportunistic Municipal Income Fund, Inc. has a 52 week low of $13.63 and a 52 week high of $16.74. The company's 50-day simple moving average is $14.55 and its 200 day simple moving average is $14.33.
RiverNorth Opportunistic Municipal Income Fund Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $0.0945 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date is Monday, December 15th.
Institutional Investors Weigh In On RiverNorth Opportunistic Municipal Income Fund
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in RiverNorth Opportunistic Municipal Income Fund by 35.6% during the 4th quarter. Bank of America Corp DE now owns 2,440 shares of the company's stock worth $37,000 after acquiring an additional 640 shares during the period. Osaic Holdings Inc. increased its position in shares of RiverNorth Opportunistic Municipal Income Fund by 17.0% in the second quarter. Osaic Holdings Inc. now owns 15,909 shares of the company's stock worth $227,000 after purchasing an additional 2,315 shares during the period. Arlington Capital Management Inc. acquired a new position in RiverNorth Opportunistic Municipal Income Fund in the third quarter valued at about $253,000. River Street Advisors LLC bought a new stake in RiverNorth Opportunistic Municipal Income Fund during the second quarter worth about $294,000. Finally, Plancorp LLC bought a new stake in RiverNorth Opportunistic Municipal Income Fund during the third quarter worth about $308,000.
RiverNorth Opportunistic Municipal Income Fund Company Profile
(
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.
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