Brian H. Schmucker

Brian H. Schmucker, listed as chief executive, has filed trades across 4 companies (mainly through SEC (Form 4)), most often in RiverNorth Managed Duration Municipal Income Fund, Inc., Rivernorth Opportunities Fund, Inc. and RiverNorth Opportunistic Municipal Income Fund, Inc. In total, 30 filings cover trades dated from 26 October 2018 to 4 June 2021.

Market trades split into 12 purchases (€569k) and 13 sales (€969k). Sales outweigh purchases by €400k. A purchase on the market is a deliberate choice to commit personal money, which is why it draws more attention than a grant. Besides market trades, the filings include 5 share grants. 2021 to date brings no purchases and 1 sale.

The median purchase comes to €31k. Clusters matter here: 6 out of 11 purchases overlapped with buying by a colleague within 30 days. Purchases made close together by different insiders form what is called a cluster.

On 8 June 2021 came the latest disclosure, an open-market sale for €59k in Rivernorth Opportunities Fund, Inc. The latest purchase dates back some time: it was published 2,403 days ago, on 25 March 2020. Filings reach the SEC (Form 4) feed a median of 3 days after the trade. US insiders must file a Form 4 within two business days of a trade. Selling is not necessarily a view on the stock: liquidity needs and diversification are common motives. These figures are compiled from regulatory filings published by SEC (Form 4). They describe what insiders did and are not a recommendation.