RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Shareholders to Get $0.09 Monthly Dividend

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) declared a monthly dividend on Thursday, October 1st. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.0889 per share on Thursday, December 31st. This represents a $1.07 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date is Tuesday, December 15th.

RiverNorth Opportunistic Municipal Income Fund Price Performance

NYSE RMI remained flat at $14.21 on Friday. 2,517 shares of the company’s stock traded hands, compared to its average volume of 22,134. RiverNorth Opportunistic Municipal Income Fund has a fifty-two week low of $13.11 and a fifty-two week high of $16.36. The business has a 50-day moving average of $14.98 and a 200-day moving average of $15.21.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in RiverNorth Opportunistic Municipal Income Fund stock. Gateway Wealth Partners LLC raised its holdings in shares of RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) by 152.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,236 shares of the company’s stock after acquiring an additional 64,151 shares during the period. Gateway Wealth Partners LLC’s holdings in RiverNorth Opportunistic Municipal Income Fund were worth $1,600,000 at the end of the most recent reporting period.

RiverNorth Opportunistic Municipal Income Fund Company Profile

RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) is a closed-end investment fund managed by RiverNorth Capital Management, LLC. The fund seeks to provide current income that is exempt from regular U.S. federal income tax, with capital appreciation as a secondary objective.

RMI invests primarily in municipal securities issued by states, cities, counties, and other public authorities in the United States. Its opportunistic strategy may include exposure to a range of municipal bonds and other municipal-income investments, allowing the portfolio to pursue opportunities across different credit qualities, maturities, structures, and market conditions.

The fund is designed for investors seeking tax-advantaged income from a professionally managed portfolio of municipal investments.