RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) Shares Down 0.6% – Time to Sell?

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) dropped 0.6% during mid-day trading on Friday . The company traded as low as $14.99 and last traded at $15.01. Approximately 143,144 shares were traded 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 Stock Performance

The stock’s 50-day moving average is $15.91 and its 200-day moving average is $15.99.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

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

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

An institutional investor recently bought a new position in RiverNorth Opportunistic Municipal Income Fund stock. Wolverine Asset Management LLC acquired a new position in shares of RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 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.