RiverNorth Opportunistic Municipal Income Fund, Inc.: insider trades · United States · SEC (Form 4)

About RiverNorth Opportunistic Municipal Income Fund, Inc.

RiverNorth Opportunistic Municipal Income Fund, Inc. (ticker: RMI) is a U.S.-listed closed-end investment company traded on the NYSE in the United States. For French-speaking investors, it should be viewed not as an operating business in the industrial sense, but as a specialized listed investment vehicle designed to generate current income exempt from regular U.S. federal income taxes, with a secondary objective of total return. The fund therefore sits squarely in the municipal fixed-income universe and uses a structure that is common in U.S. income-oriented closed-end funds. ([rivernorth.com](https://www.rivernorth.com/investments/rmi/)) RMI was launched on October 25, 2018, making it a relatively recent entrant in the municipal closed-end fund space. The fund is managed by RiverNorth Capital Management, LLC, a specialist investment manager known for opportunistic strategies and closed-end fund structures. RiverNorth’s broader philosophy is to exploit pricing inefficiencies between a closed-end fund’s market price and its net asset value (NAV), which is central to the fund’s investment case. RiverNorth is based in Chicago, Illinois, and the firm also has a presence tied to West Palm Beach, Florida. ([rivernorth.com](https://www.rivernorth.com/investments/rmi/?utm_source=openai)) From a business-model perspective, RMI is built around two principal sleeves. The first is a tactical municipal closed-end fund strategy managed by RiverNorth, which seeks to capture value from discounts, premiums, and relative mispricings in municipal CEFs and ETFs. The second is a municipal bond income strategy managed with MacKay Shields / MacKay Municipal Managers, focused on tax-free income and risk-adjusted total return through security selection, sector rotation, yield-curve positioning, and duration management. The portfolio is primarily invested in investment-grade municipal bonds, while retaining flexibility to own lower-rated credits within defined limits. ([rivernorth.com](https://www.rivernorth.com/investments/rmi/)) Competitively, RMI occupies a niche position rather than competing as a broad-based asset manager. Its differentiator is the combination of “CEF arbitrage” style exposure and direct municipal bond income generation. That blend can be attractive for investors seeking tax-efficient income and a manager willing to use structure-driven opportunities in the municipal market. The fund may also employ leverage, indirect exposure through underlying funds, and hedging tools, which can enhance income potential but also increase volatility and complexity versus plain-vanilla municipal bond funds. As of May 15, 2026, RiverNorth reported total net assets of approximately $101.0 million, underscoring that RMI remains a relatively small, specialized product. ([rivernorth.com](https://www.rivernorth.com/investments/rmi/)) Recent developments are mainly operational and distribution-related rather than transformational. In its fiscal 2025 annual report, the fund disclosed a new at-the-market distribution agreement with ALPS Distributors, effective May 20, 2025, replacing the prior agreement and allowing the fund to offer up to 4 million common shares from time to time, although no shares were issued under that program during fiscal 2025. The report also disclosed post-year-end distributions, including payments on July 31, 2025 and August 29, 2025 at a rate of $0.0945 per share. In addition, RiverNorth’s website continues to maintain current fund documentation and governance materials, indicating ongoing reporting and active fund administration. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1746967/000139834425017684/fp0095218-1_ncsrixbrl.htm)) For investors in France, Belgium, and Switzerland, the key takeaway is that RMI is a U.S. municipal-income CEF listed on the NYSE in the United States, built for income generation and tax efficiency rather than traditional corporate growth, and best analyzed through the lenses of NAV dynamics, leverage, municipal credit quality, and distribution stability.