RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Trading Down 0.6% – What’s Next?

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) shares were down 0.6% on Friday . The stock traded as low as $14.99 and last traded at $15.01. Approximately 143,144 shares traded hands during trading, an increase of 654% from the average daily volume of 18,974 shares. The stock had previously closed at $15.10.

RiverNorth Opportunistic Municipal Income Fund Trading Down 0.6 %

The stock’s fifty day simple moving average is $15.91 and its 200-day simple moving average is $15.99.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.0965 dividend. This represents a $1.16 annualized dividend and a dividend yield of 7.71%. The ex-dividend date of this dividend is Friday, December 13th.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

An institutional investor recently bought a new position in RiverNorth Opportunistic Municipal Income Fund stock. Wolverine Asset Management LLC purchased a new position in RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,615 shares of the company’s stock, valued at approximately $185,000.

RiverNorth Opportunistic Municipal Income Fund Company Profile

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.