Key Points
- Financial Holdings Rivernorth bought 3,941 shares of RiverNorth Opportunistic Municipal Income Fund (RMI) on Dec. 22 at $14.47 per share for $57,026.27, bringing its direct holding to 84,454 shares (a 4.89% ownership increase, valued at about $1.22M).
- The insider has been steadily accumulating RMI through multiple purchases in November–December, repeatedly adding thousands of shares at roughly $14.46–$14.69 per share.
- The fund declared a monthly dividend of $0.0945 per share (ex-dividend/record date Dec. 15, payable Dec. 31), implying an annualized yield of about 7.9%.
RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI - Get Free Report) insider Financial Holdings Rivernorth acquired 3,941 shares of RiverNorth Opportunistic Municipal Income Fund stock in a transaction on Monday, December 22nd. The shares were bought at an average price of $14.47 per share, for a total transaction of $57,026.27. Following the completion of the purchase, the insider directly owned 84,454 shares in the company, valued at $1,222,049.38. The trade was a 4.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Financial Holdings Rivernorth also recently made the following trade(s):
- On Thursday, December 18th, Financial Holdings Rivernorth acquired 5,058 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average price of $14.46 per share, for a total transaction of $73,138.68.
- On Monday, November 24th, Financial Holdings Rivernorth bought 5,558 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average cost of $14.48 per share, for a total transaction of $80,479.84.
- On Monday, November 17th, Financial Holdings Rivernorth bought 6,642 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired at an average cost of $14.54 per share, with a total value of $96,574.68.
- On Friday, November 14th, Financial Holdings Rivernorth bought 7,045 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were bought at an average cost of $14.50 per share, for a total transaction of $102,152.50.
- On Thursday, November 13th, Financial Holdings Rivernorth purchased 3,664 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were purchased at an average price of $14.60 per share, for a total transaction of $53,494.40.
- On Tuesday, November 11th, Financial Holdings Rivernorth purchased 1,657 shares of RiverNorth Opportunistic Municipal Income Fund stock. The shares were acquired at an average cost of $14.65 per share, for a total transaction 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 acquired at an average cost of $14.54 per share, for a total transaction of $18,916.54.
- On Friday, November 7th, Financial Holdings Rivernorth bought 6,857 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was acquired at an average price of $14.51 per share, for a total transaction of $99,495.07.
- 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 cost of $14.67 per share, with a total value of $17,985.42.
- On Tuesday, November 4th, Financial Holdings Rivernorth purchased 6,857 shares of RiverNorth Opportunistic Municipal Income Fund stock. The stock was bought at an average cost of $14.69 per share, for a total transaction of $100,729.33.
RiverNorth Opportunistic Municipal Income Fund Stock Performance
RiverNorth Opportunistic Municipal Income Fund stock opened at $14.43 on Wednesday. RiverNorth Opportunistic Municipal Income Fund, Inc. has a 1-year low of $13.63 and a 1-year high of $15.84. The firm's fifty day simple moving average is $14.56 and its 200-day simple moving average is $14.35.
RiverNorth Opportunistic Municipal Income Fund Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $0.0945 dividend. This represents a c) annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend is Monday, December 15th.
Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund
A number of hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 35.6% in the 4th quarter. Bank of America Corp DE now owns 2,440 shares of the company's stock worth $37,000 after buying an additional 640 shares in the last quarter. Osaic Holdings Inc. increased its position in 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. bought a new position in RiverNorth Opportunistic Municipal Income Fund in the third quarter valued at approximately $253,000. River Street Advisors LLC acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the 2nd quarter valued at approximately $294,000. Finally, Plancorp LLC acquired a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the 3rd quarter valued at $308,000.
RiverNorth Opportunistic Municipal Income Fund Company Profile
(
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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