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

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

RiverNorth Opportunistic Municipal Income Fund Stock Down 0.6 %

The firm’s fifty day simple moving average is $15.91 and its two-hundred day simple moving average is $15.99.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

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

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

A hedge fund recently raised its stake in RiverNorth Opportunistic Municipal Income Fund stock. Wolverine Asset Management LLC grew its position in shares of RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) by 223.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,625 shares of the company’s stock after purchasing an additional 26,010 shares during the period. Wolverine Asset Management LLC’s holdings in RiverNorth Opportunistic Municipal Income Fund were worth $614,000 as of its most recent SEC filing.

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.