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

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) announced a monthly dividend on Friday, January 3rd, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.0945 per share on Monday, March 31st. This represents a $1.13 annualized dividend and a dividend yield of 7.37%. The ex-dividend date is Friday, March 14th.

RiverNorth Opportunistic Municipal Income Fund has raised its dividend by an average of 1.3% per year over the last three years.

RiverNorth Opportunistic Municipal Income Fund Stock Performance

RiverNorth Opportunistic Municipal Income Fund stock opened at $15.39 on Wednesday. RiverNorth Opportunistic Municipal Income Fund has a fifty-two week low of $14.79 and a fifty-two week high of $16.74. The firm’s 50-day simple moving average is $15.56 and its 200 day simple moving average is $15.79.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in RiverNorth Opportunistic Municipal Income Fund stock. Bank of America Corp DE grew its stake in RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) by 35.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,440 shares of the company’s stock after buying an additional 640 shares during the period. Bank of America Corp DE’s holdings in RiverNorth Opportunistic Municipal Income Fund were worth $37,000 at the end of the most recent reporting period.

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.