RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Plans $0.10 Monthly Dividend

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) declared a monthly dividend on Monday, April 1st, NASDAQ reports. Stockholders of record on Monday, April 15th will be given a dividend of 0.0965 per share on Tuesday, April 30th. This represents a $1.16 annualized dividend and a dividend yield of 7.28%. The ex-dividend date of this dividend is Friday, April 12th.

RiverNorth Opportunistic Municipal Income Fund Price Performance

NYSE RMI traded down $0.08 during mid-day trading on Wednesday, reaching $15.90. The stock had a trading volume of 34,117 shares, compared to its average volume of 15,996. RiverNorth Opportunistic Municipal Income Fund has a 1 year low of $13.05 and a 1 year high of $17.37. The company has a fifty day moving average price of $16.07 and a 200 day moving average price of $15.29.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

A number of hedge funds have recently added to or reduced their stakes in RMI. Advisor Group Holdings Inc. raised its holdings in RiverNorth Opportunistic Municipal Income Fund by 30.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 6,972 shares of the company’s stock worth $129,000 after acquiring an additional 1,614 shares during the last quarter. UBS Group AG grew its position in RiverNorth Opportunistic Municipal Income Fund by 20.2% in the 1st quarter. UBS Group AG now owns 142,842 shares of the company’s stock worth $2,650,000 after purchasing an additional 24,029 shares during the period. Advisors Asset Management Inc. grew its position in RiverNorth Opportunistic Municipal Income Fund by 72.7% in the 1st quarter. Advisors Asset Management Inc. now owns 149,352 shares of the company’s stock worth $2,770,000 after purchasing an additional 62,862 shares during the period. Royal Bank of Canada grew its position in RiverNorth Opportunistic Municipal Income Fund by 3.5% in the 3rd quarter. Royal Bank of Canada now owns 179,409 shares of the company’s stock worth $2,799,000 after purchasing an additional 6,055 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new stake in RiverNorth Opportunistic Municipal Income Fund in the 3rd quarter worth approximately $218,000.

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.