RiverNorth Opportunistic Municipal Income Fund, Inc. (RMI) to Issue Monthly Dividend of $0.09 on June 30th

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) declared a monthly dividend on Friday, April 4th, Wall Street Journal reports. Investors of record on Friday, June 13th will be paid a dividend of 0.0945 per share on Monday, June 30th. This represents a $1.13 annualized dividend and a yield of 7.77%. The ex-dividend date is Friday, June 13th.

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 Price Performance

RMI stock opened at $14.60 on Friday. The firm has a 50 day moving average of $15.46 and a two-hundred day moving average of $15.69. RiverNorth Opportunistic Municipal Income Fund has a 12 month low of $14.50 and a 12 month high of $16.74.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

An institutional investor recently raised its position in RiverNorth Opportunistic Municipal Income Fund stock. Bank of America Corp DE lifted its stake in RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) by 35.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,440 shares of the company’s stock after acquiring 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.

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.