RiverNorth Opportunistic Municipal Income Fund Key Executives
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RiverNorth Opportunistic Municipal Income Fund Earnings
This section highlights RiverNorth Opportunistic Municipal Income Fund's earnings, including key dates, EPS, earnings reports, and earnings call transcripts.
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| Transcript | Quarter | Year | Date | Estimated EPS | Actual EPS |
|---|
RiverNorth Opportunistic Municipal Income Fund, Inc. (RMI)
RiverNorth Opportunistic Municipal Income Fund, Inc. operates as Closed-End Investment Fund/Investment Trust. It specializes in opportunistic investment strategies in niche markets. The firm operates as investment manager to registered funds, private funds and separately managed accounts. The company is headquartered in West Palm Beach, FL.
$14.96
Stock Price
$95.37M
Market Cap
-
Employees
Chicago, IL
Location
Financial Statements
Access annual & quarterly financial statements for RiverNorth Opportunistic Municipal Income Fund, including income statements, balance sheets, and cash flow statements..
Annual Income Statement
| Breakdown | June 30, 2024 | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 |
|---|---|---|---|---|---|
| Revenue | $5.81M | $4.50M | $-26.28M | $22.24M | $5.02M |
| Cost of Revenue | $2.33M | $2.44M | $2.67M | $2.71M | $2.80M |
| Gross Profit | $3.48M | $2.06M | $-28.95M | $19.53M | $2.22M |
| Gross Profit Ratio | 59.90% | 45.80% | 110.10% | 87.81% | 44.20% |
| Research and Development Expenses | $- | $1 | $-4 | $1 | $0 |
| General and Administrative Expenses | $658.47K | $537.27K | $499.33K | $511.74K | $500.12K |
| Selling and Marketing Expenses | $- | $- | $- | $- | $- |
| Selling General and Administrative Expenses | $658.47K | $537.27K | $499.33K | $511.74K | $500.12K |
| Other Expenses | $160.22K | $5.23M | $177.39K | $183.72K | $191.03K |
| Operating Expenses | $818.69K | $703.38K | $676.73K | $695.46K | $691.14K |
| Cost and Expenses | $3.15M | $703.38K | $676.73K | $695.46K | $691.14K |
| Interest Income | $3.79M | $5.19M | $4.24M | $3.85M | $3.85M |
| Interest Expense | $2.82M | $2.38M | $553.53K | $459.38K | $1.44M |
| Depreciation and Amortization | $8.07M | $228.49K | $236.56K | $206.30K | $171.86K |
| EBITDA | $10.74M | $6.18M | $-26.41M | $21.54M | $5.78M |
| EBITDA Ratio | 184.74% | 137.00% | 100.47% | 96.87% | 114.99% |
| Operating Income | $2.66M | $3.80M | $-26.41M | $21.54M | $5.78M |
| Operating Income Ratio | 45.82% | 84.38% | 100.47% | 96.87% | 114.99% |
| Total Other Income Expenses Net | $5.26M | $2.44M | $-553.53K | $- | $-1.44M |
| Income Before Tax | $7.92M | $3.80M | $-26.96M | $21.54M | $4.33M |
| Income Before Tax Ratio | 136.28% | 84.38% | 102.57% | 96.87% | 86.24% |
| Income Tax Expense | $- | $6.18M | $-26.41M | $22.00M | $5.78M |
| Net Income | $7.92M | $3.80M | $-26.96M | $21.54M | $4.33M |
| Net Income Ratio | 136.28% | 84.38% | 102.57% | 96.87% | 86.24% |
| EPS | $1.24 | $0.60 | $-4.23 | $3.38 | $0.68 |
| EPS Diluted | $1.24 | $0.60 | $-4.23 | $3.38 | $0.68 |
| Weighted Average Shares Outstanding | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M |
| Weighted Average Shares Outstanding Diluted | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M |
| SEC Filing | Source | Source | Source | Source | Source |
| Breakdown | June 30, 2024 | December 31, 2023 | June 30, 2023 | December 31, 2022 | June 30, 2022 | December 31, 2021 | June 30, 2021 | December 31, 2020 | June 30, 2020 | December 31, 2019 | June 30, 2019 | December 31, 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.24M | $1.57M | $1.29M | $2.11M | $1.75M | $5.42M | $10.63M | $7.65M | $5.28M | $4.17M | $4.15M | $1.07M |
| Cost of Revenue | $1.18M | $1.15M | $1.20M | $1.24M | $1.26M | $1.40M | $1.36M | $1.35M | $1.36M | $1.93M | $2.25M | $505.40K |
| Gross Profit | $3.06M | $418.43K | $86.27K | $863.18K | $485.13K | $4.02M | $9.26M | $6.30M | $3.92M | $2.24M | $1.90M | $563.07K |
| Gross Profit Ratio | 72.20% | 26.70% | 6.70% | 41.00% | 27.70% | 74.10% | 87.16% | 82.39% | 74.30% | 53.74% | 45.69% | 52.70% |
| Research and Development Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| General and Administrative Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $213.61K | $191.38K | $156.78K | $64.14K |
| Selling and Marketing Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $23.97K | $18.61K | $25.22K | $6.84K |
| Selling General and Administrative Expenses | $2.27M | $- | $- | $- | $- | $- | $- | $- | $237.58K | $209.99K | $182.00K | $70.98K |
| Other Expenses | $- | $4.98M | $3.40M | $1.82M | $-27.48M | $-3.43M | $-231.41K | $6.67M | $- | $- | $- | $- |
| Operating Expenses | $2.27M | $-4.98M | $-3.40M | $-1.82M | $27.48M | $-3.43M | $-231.41K | $6.67M | $237.58K | $209.99K | $182.00K | $70.98K |
| Cost and Expenses | $-1.09M | $-3.83M | $-2.21M | $-580.28K | $28.74M | $4.84M | $1.60M | $-5.32M | $7.01M | $2.14M | $2.43M | $576.38K |
| Interest Income | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Interest Expense | $- | $1.49M | $1.34M | $1.04M | $316.36K | $- | $- | $- | $- | $4.89M | $15.62M | $3.67M |
| Depreciation and Amortization | $- | $122.08K | $54.88K | $86.06K | $71.39K | $- | $- | $- | $-7.60M | $9.79M | $31.24M | $7.34M |
| EBITDA | $5.33M | $5.40M | $3.49M | $2.69M | $-26.99M | $587.28K | $9.03M | $12.97M | $-1.73M | $11.82M | $32.96M | $7.83M |
| EBITDA Ratio | 125.73% | 344.26% | 271.57% | 127.57% | -1543.78% | 10.83% | 84.98% | 169.63% | -32.83% | 283.41% | 794.52% | 733.13% |
| Operating Income | $5.33M | $5.40M | $3.49M | $2.69M | $-26.99M | $587.28K | $9.03M | $12.97M | $-1.73M | $2.03M | $1.71M | $492.09K |
| Operating Income Ratio | 125.73% | 344.26% | 271.57% | 127.57% | -1543.78% | 10.83% | 84.98% | 169.63% | -32.83% | 48.71% | 41.31% | 46.06% |
| Total Other Income Expenses Net | $-1.33M | $-1.49M | $-1.34M | $-1.04M | $-316.36K | $-237.18K | $-221.18K | $-238.19K | $-859.50K | $4.89M | $15.62M | $3.67M |
| Income Before Tax | $4.01M | $3.91M | $2.15M | $1.65M | $-27.31M | $350.11K | $8.81M | $12.73M | $-2.59M | $6.93M | $17.34M | $4.16M |
| Income Before Tax Ratio | 94.42% | 249.44% | 167.51% | 78.26% | -1561.87% | 6.45% | 82.90% | 166.52% | -49.12% | 166.06% | 417.91% | 389.59% |
| Income Tax Expense | $- | $-122.08K | $-54.88K | $-86.06K | $-71.39K | $- | $- | $- | $7.60M | $-9.79M | $-31.24M | $-7.34M |
| Net Income | $4.01M | $3.91M | $2.15M | $1.65M | $-27.31M | $350.11K | $8.81M | $12.73M | $-2.59M | $16.72M | $48.58M | $11.50M |
| Net Income Ratio | 94.42% | 249.44% | 167.51% | 78.26% | -1561.87% | 6.45% | 82.90% | 166.52% | -49.12% | 400.76% | 1171.12% | 1076.67% |
| EPS | $0.63 | $0.61 | $0.34 | $0.26 | $-4.29 | $0.05 | $1.38 | $2.00 | $-0.41 | $2.62 | $7.62 | $1.81 |
| EPS Diluted | $0.63 | $0.61 | $0.34 | $0.26 | $-4.29 | $0.05 | $1.38 | $2.00 | $-0.41 | $2.62 | $7.62 | $1.81 |
| Weighted Average Shares Outstanding | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M |
| Weighted Average Shares Outstanding Diluted | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M | 6.37M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Annual Balance Sheet
| Breakdown | June 30, 2024 | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 |
|---|---|---|---|---|---|
| Cash and Cash Equivalents | $23.93K | $- | $172.96K | $172.96K | $940.00K |
| Short Term Investments | $3.39M | $4.06M | $7.73M | $14.59M | $4.22M |
| Cash and Short Term Investments | $3.42M | $4.06M | $172.96K | $172.96K | $940.00K |
| Net Receivables | $1.85M | $1.91M | $1.66M | $2.24M | $1.52M |
| Inventory | $- | $- | $9.22M | $17.00M | $5.74M |
| Other Current Assets | $-5.27M | $-5.97M | $-16.95M | $-31.59M | $-9.03M |
| Total Current Assets | $- | $1.91M | $1.66M | $2.41M | $2.55M |
| Property Plant Equipment Net | $- | $- | $- | $- | $- |
| Goodwill | $- | $- | $- | $- | $- |
| Intangible Assets | $- | $- | $- | $- | $- |
| Goodwill and Intangible Assets | $- | $- | $- | $- | $- |
| Long Term Investments | $171.35M | $180.47M | $202.25M | $226.86M | $208.46M |
| Tax Assets | $- | $- | $- | $- | $- |
| Other Non-Current Assets | $-171.35M | $-180.47M | $-202.25M | $-226.86M | $-208.46M |
| Total Non-Current Assets | $- | $180.47M | $202.25M | $226.86M | $208.46M |
| Other Assets | $174.90M | $1.72M | $1.69M | $835.22K | $18.24K |
| Total Assets | $174.90M | $184.10M | $205.59M | $230.10M | $211.02M |
| Account Payables | $736.97K | $864.23K | $243.15K | $5.58M | $280.18K |
| Short Term Debt | $- | $- | $- | $- | $- |
| Tax Payables | $- | $- | $- | $- | $- |
| Deferred Revenue | $- | $- | $- | $- | $- |
| Other Current Liabilities | $254.66K | $-864.23K | $-243.15K | $-5.58M | $-280.18K |
| Total Current Liabilities | $991.63K | $864.23K | $243.15K | $5.58M | $570.89K |
| Long Term Debt | $64.06M | $73.42M | $- | $58.84M | $- |
| Deferred Revenue Non-Current | $- | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $- | $- | $- |
| Other Non-Current Liabilities | $- | $-73.42M | $- | $-58.84M | $- |
| Total Non-Current Liabilities | $64.06M | $73.42M | $243.15K | $68.84M | $68.52M |
| Other Liabilities | $- | $458.93K | $91.87M | $449.91K | $-4 |
| Total Liabilities | $65.05M | $74.75M | $92.36M | $74.88M | $69.09M |
| Preferred Stock | $- | $- | $- | $- | $- |
| Common Stock | $113.39M | $119.59M | $124.68M | $126.09M | $126.56M |
| Retained Earnings | $-3.53M | $-10.24M | $-11.45M | $29.13M | $15.38M |
| Accumulated Other Comprehensive Income Loss | $- | $- | $- | $29.13M | $15.38M |
| Other Total Stockholders Equity | $- | $- | $- | $-29.13M | $-15.38M |
| Total Stockholders Equity | $109.85M | $109.35M | $113.23M | $155.23M | $141.94M |
| Total Equity | $109.85M | $109.35M | $113.23M | $155.23M | $141.94M |
| Total Liabilities and Stockholders Equity | $174.90M | $184.10M | $205.59M | $230.10M | $211.02M |
| Minority Interest | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $174.90M | $184.10M | $205.59M | $230.10M | $211.02M |
| Total Investments | $171.35M | $180.47M | $202.25M | $226.86M | $208.46M |
| Total Debt | $64.06M | $73.42M | $90.42M | $68.84M | $68.52M |
| Net Debt | $-23.93K | $73.42M | $90.24M | $68.67M | $67.57M |
Balance Sheet Charts
| Breakdown | June 30, 2024 | December 31, 2023 | June 30, 2023 | December 31, 2022 | June 30, 2022 | December 31, 2021 | June 30, 2021 | December 31, 2020 | June 30, 2020 | December 31, 2019 | June 30, 2019 | December 31, 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $23.93K | $1.24M | $- | $3.92M | $3.92M | $55.40K | $172.96K | $27.78K | $940.00K | $554.00K | $534.00K | $33.75K |
| Short Term Investments | $3.39M | $471.55K | $4.06M | $17.93M | $7.73M | $737.50K | $725.00K | $784.00K | $4.22M | $- | $- | $- |
| Cash and Short Term Investments | $3.42M | $1.71M | $4.06M | $3.92M | $3.92M | $792.90K | $897.96K | $811.78K | $940.00K | $554.00K | $534.00K | $33.75K |
| Net Receivables | $1.85M | $1.64M | $1.91M | $2.61M | $1.66M | $1.15M | $2.24M | $1.94M | $1.52M | $1.32M | $2.33M | $1.57M |
| Inventory | $- | $- | $- | $20.54M | $9.39M | $11.00M | $17.00M | $13.51M | $5.74M | $- | $- | $- |
| Other Current Assets | $-5.27M | $-3.35M | $-5.97M | $-43.10M | $-12.25M | $-11.00M | $-17.00M | $-13.51M | $-9.03M | $1.31K | $11.01K | $- |
| Total Current Assets | $- | $- | $1.91M | $1.91M | $6.53M | $1.95M | $3.13M | $2.75M | $2.55M | $1.88M | $2.86M | $1.61M |
| Property Plant Equipment Net | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Goodwill | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Intangible Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Goodwill and Intangible Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Long Term Investments | $171.35M | $173.90M | $180.47M | $180.47M | $191.51M | $212.38M | $226.86M | $209.24M | $208.46M | $234.86M | $222.58M | $211.13M |
| Tax Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Non-Current Assets | $-171.35M | $-173.90M | $-180.47M | $-180.47M | $-191.51M | $-212.38M | $-226.86M | $-209.24M | $-208.46M | $-234.86M | $-222.58M | $-211.13M |
| Total Non-Current Assets | $- | $- | $180.47M | $180.47M | $191.51M | $212.38M | $226.86M | $209.24M | $208.46M | $234.86M | $222.58M | $211.13M |
| Other Assets | $174.90M | $179.17M | $1.72M | $1.72M | $1.88M | $155.91K | $110.22K | $5.84K | $18.24K | $1.31K | $11.01K | $- |
| Total Assets | $174.90M | $179.17M | $184.10M | $184.10M | $199.92M | $214.48M | $230.10M | $212.00M | $211.02M | $236.73M | $225.46M | $212.74M |
| Account Payables | $736.97K | $1.07M | $864.23K | $5.24M | $243.15K | $681.99K | $5.58M | $109.83K | $280.18K | $1.02M | $1.29M | $1.05M |
| Short Term Debt | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Tax Payables | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Revenue | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Current Liabilities | $254.66K | $-1.07M | $-864.23K | $-5.24M | $-243.15K | $-681.99K | $-5.58M | $-109.83K | $-280.18K | $297.09K | $1.62M | $-1.05M |
| Total Current Liabilities | $991.63K | $1.07M | $864.23K | $864.23K | $5.24M | $681.99K | $5.58M | $109.83K | $570.89K | $1.32M | $2.92M | $1.84M |
| Long Term Debt | $64.06M | $68.29M | $73.42M | $83.42M | $90.42M | $- | $- | $- | $- | $- | $- | $- |
| Deferred Revenue Non-Current | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Non-Current Liabilities | $- | $-68.29M | $-73.42M | $-83.42M | $-90.42M | $- | $- | $- | $- | $- | $- | $- |
| Total Non-Current Liabilities | $64.06M | $69.64M | $73.42M | $73.42M | $5.24M | $10.00M | $10.00M | $61.59M | $68.52M | $87.38M | $77.92M | $80.11M |
| Other Liabilities | $- | $-1.07M | $458.93K | $458.93K | $78.55M | $59.28M | $59.29M | $368.28K | $-4 | $1 | $2 | $-3 |
| Total Liabilities | $65.05M | $69.64M | $74.75M | $74.75M | $89.02M | $69.96M | $74.88M | $62.07M | $69.09M | $88.70M | $80.84M | $81.95M |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock | $113.39M | $119.59M | $119.59M | $119.59M | $124.68M | $126.09M | $126.09M | $126.56M | $126.56M | $127.79M | $127.79M | $127.21M |
| Retained Earnings | $-3.53M | $-10.05M | $-10.24M | $-10.24M | $-13.78M | $18.43M | $29.13M | $23.36M | $15.38M | $20.24M | $16.82M | $3.58M |
| Accumulated Other Comprehensive Income Loss | $- | $- | $- | $- | $- | $- | $29.13M | $23.36M | $15.38M | $- | $- | $- |
| Other Total Stockholders Equity | $- | $- | $- | $-1.55M | $-2.33M | $- | $-29.13M | $-23.36M | $-15.38M | $- | $- | $- |
| Total Stockholders Equity | $109.85M | $109.54M | $109.35M | $109.35M | $110.90M | $144.52M | $155.23M | $149.92M | $141.94M | $148.04M | $144.62M | $130.79M |
| Total Equity | $109.85M | $109.54M | $109.35M | $109.35M | $110.90M | $144.52M | $155.23M | $149.92M | $141.94M | $148.04M | $144.62M | $130.79M |
| Total Liabilities and Stockholders Equity | $174.90M | $179.17M | $184.10M | $184.10M | $199.92M | $214.48M | $230.10M | $212.00M | $211.02M | $236.73M | $225.46M | $212.74M |
| Minority Interest | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $174.90M | $179.17M | $184.10M | $184.10M | $199.92M | $214.48M | $230.10M | $212.00M | $211.02M | $236.73M | $225.46M | $212.74M |
| Total Investments | $171.35M | $174.37M | $180.47M | $180.47M | $191.51M | $212.38M | $226.86M | $209.24M | $208.46M | $234.86M | $222.58M | $211.13M |
| Total Debt | $64.06M | $68.29M | $73.42M | $73.42M | $83.42M | $68.84M | $68.84M | $61.59M | $68.52M | $87.38M | $77.92M | $80.11M |
| Net Debt | $-23.93K | $67.05M | $73.42M | $69.51M | $79.51M | $68.79M | $68.67M | $61.57M | $67.57M | $86.82M | $77.39M | $80.07M |
Annual Cash Flow
| Breakdown | June 30, 2024 | June 30, 2023 | June 30, 2022 | June 30, 2021 | June 30, 2020 |
|---|---|---|---|---|---|
| Net Income | $7.92M | $3.80M | $-26.96M | $21.54M | $4.33M |
| Depreciation and Amortization | $- | $- | $- | $- | $- |
| Deferred Income Tax | $- | $- | $- | $- | $- |
| Stock Based Compensation | $- | $- | $- | $- | $- |
| Change in Working Capital | $-351.51K | $-302.04K | $356.50K | $59.46K | $-83.93K |
| Accounts Receivables | $54.51K | $-286.12K | $-261.68K | $75.57K | $248.52K |
| Inventory | $- | $- | $- | $- | $- |
| Accounts Payables | $-191.11K | $-589.96K | $590.67K | $17.32K | $10.23K |
| Other Working Capital | $-214.91K | $574.04K | $27.51K | $-33.43K | $-342.69K |
| Other Non Cash Items | $-2.50M | $21.77M | $20.03M | $-13.72M | $13.92M |
| Net Cash Provided by Operating Activities | $5.07M | $25.26M | $-6.58M | $7.88M | $18.17M |
| Investments in Property Plant and Equipment | $- | $- | $- | $- | $- |
| Acquisitions Net | $- | $- | $- | $- | $- |
| Purchases of Investments | $-111.72M | $-87.74M | $-213.08M | $-84.26M | $-119.33M |
| Sales Maturities of Investments | $122.68M | $100.72M | $189.26M | $94.73M | $136.97M |
| Other Investing Activities | $- | $- | $- | $- | $- |
| Net Cash Used for Investing Activities | $10.95M | $12.97M | $-23.83M | $10.47M | $17.64M |
| Debt Repayment | $-9.46M | $-17.04M | $22.18M | $330.00K | $-10.34M |
| Common Stock Issued | $- | $- | $- | $- | $- |
| Common Stock Repurchased | $- | $- | $- | $- | $- |
| Dividends Paid | $-7.42M | $-7.68M | $-15.04M | $-8.26M | $-7.01M |
| Other Financing Activities | $- | $-595.70K | $649.70K | $- | $-406.00K |
| Net Cash Used Provided by Financing Activities | $-16.88M | $-25.32M | $7.18M | $-7.93M | $-17.76M |
| Effect of Forex Changes on Cash | $- | $-12.97M | $23.83M | $-10.47M | $-17.64M |
| Net Change in Cash | $-1.43M | $-54.00K | $605.04K | $-42.04K | $406.00K |
| Cash at End of Period | $1.35M | $1.45M | $1.50M | $897.96K | $940.00K |
| Cash at Beginning of Period | $1.45M | $1.50M | $897.96K | $940.00K | $534.00K |
| Operating Cash Flow | $5.07M | $25.26M | $-6.58M | $7.88M | $18.17M |
| Capital Expenditure | $- | $- | $- | $- | $- |
| Free Cash Flow | $5.07M | $25.26M | $-6.58M | $7.88M | $18.17M |
Cash Flow Charts
| Breakdown | June 30, 2024 | December 31, 2023 | June 30, 2023 | December 31, 2022 | June 30, 2022 | December 31, 2021 | June 30, 2021 | December 31, 2020 | June 30, 2020 | December 31, 2019 | June 30, 2019 | December 31, 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $4.01M | $3.91M | $2.15M | $1.65M | $-27.31M | $350.11K | $8.81M | $12.73M | $-2.59M | $6.93M | $17.34M | $4.16M |
| Depreciation and Amortization | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Income Tax | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Stock Based Compensation | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Change in Working Capital | $-525.73K | $174.22K | $357.30K | $-659.34K | $268.16K | $88.34K | $-413.56K | $473.03K | $26.28M | $-6.89M | $5.07M | $-207.39M |
| Accounts Receivables | $-480.58K | $535.10K | $94.02K | $-380.14K | $-467.15K | $205.47K | $-390.33K | $465.90K | $-457.80K | $525.78K | $-782.77K | $-782.77K |
| Inventory | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Accounts Payables | $-34.10K | $-157.01K | $91.56K | $-681.52K | $653.22K | $-62.55K | $11.33K | $5.99K | $750.27K | $1.59M | $-1.08M | $-1.08M |
| Other Working Capital | $-11.05K | $-203.86K | $171.71K | $402.32K | $82.09K | $-54.58K | $-34.57K | $1.14K | $25.99M | $-9.00M | $6.93M | $-205.52M |
| Other Non Cash Items | $-706.12K | $-2.17M | $-554.03K | $6.55M | $34.88M | $1.79M | $-3.88M | $-10.04M | $-930.29K | $-4.63M | $-17.27M | $-3.77M |
| Net Cash Provided by Operating Activities | $2.77M | $2.30M | $2.14M | $6.48M | $8.02M | $2.37M | $4.14M | $3.64M | $22.76M | $-4.59M | $5.14M | $-206.99M |
| Investments in Property Plant and Equipment | $-3 | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Acquisitions Net | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Purchases of Investments | $-16.54M | $-95.18M | $-28.81M | $-58.93M | $-189.29M | $-23.80M | $-54.45M | $-29.81M | $- | $- | $- | $- |
| Sales Maturities of Investments | $22.98M | $99.70M | $22.40M | $78.31M | $161.74M | $27.52M | $49.70M | $45.03M | $- | $- | $- | $- |
| Other Investing Activities | $3 | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Net Cash Used for Investing Activities | $6.43M | $4.52M | $-6.41M | $19.39M | $-27.55M | $3.72M | $-4.75M | $15.22M | $- | $- | $- | $- |
| Debt Repayment | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock Issued | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock Repurchased | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $127.11M |
| Dividends Paid | $-3.69M | $-3.73M | $-3.70M | $-3.98M | $-4.04M | $-11.00M | $-3.51M | $-4.75M | $-3.51M | $-3.51M | $-3.51M | $-584.43K |
| Other Financing Activities | $-5.67M | $-3.79M | $-14.11M | $-3.59M | $22.93M | $-105.06K | $7.34M | $-7.05M | $-18.87M | $8.12M | $-1.10M | $207.47M |
| Net Cash Used Provided by Financing Activities | $-9.36M | $-7.52M | $-17.81M | $-7.56M | $18.89M | $-11.11M | $3.83M | $-11.80M | $-22.37M | $4.61M | $-4.61M | $206.89M |
| Effect of Forex Changes on Cash | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Net Change in Cash | $-1.22M | $-698.64K | $-22.08M | $18.30M | $-631.14K | $-117.56K | $145.18K | $7.06M | $386.00K | $20.00K | $534.00K | $-100.00K |
| Cash at End of Period | $23.93K | $1.24M | $-18.16M | $3.92M | $-575.73K | $55.40K | $172.96K | $27.78K | $386.00K | $20.00K | $534.00K | $-100.00K |
| Cash at Beginning of Period | $1.24M | $1.94M | $3.92M | $-14.38M | $55.40K | $172.96K | $27.78K | $-7.03M | $0 | $- | $-0 | $- |
| Operating Cash Flow | $2.77M | $2.30M | $2.14M | $6.48M | $8.02M | $2.37M | $4.14M | $3.64M | $22.76M | $-4.59M | $5.14M | $-206.99M |
| Capital Expenditure | $-3 | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Free Cash Flow | $2.77M | $2.30M | $2.14M | $6.48M | $8.02M | $2.37M | $4.14M | $3.64M | $22.76M | $-4.59M | $5.14M | $-206.99M |
RiverNorth Opportunistic Municipal Income Fund Dividends
Explore RiverNorth Opportunistic Municipal Income Fund's dividend history, including dividend yield, payout ratio, and historical payments.
Dividend Yield
7.39%
Dividend Payout Ratio
93.63%
Dividend Paid & Capex Coverage Ratio
0.68x
RiverNorth Opportunistic Municipal Income Fund Dividend History
| Dividend | Adjusted Dividend | Date | Record Date | Payment Date | Declaration Date |
|---|---|---|---|---|---|
| $0.0945 | $0.0945 | June 13, 2025 | June 13, 2025 | June 30, 2025 | |
| $0.0945 | $0.0945 | May 15, 2025 | May 15, 2025 | May 30, 2025 | |
| $0.0945 | $0.0945 | April 15, 2025 | April 15, 2025 | April 30, 2025 | |
| $0.0945 | $0.0945 | March 14, 2025 | March 14, 2025 | March 31, 2025 | January 02, 2025 |
| $0.0945 | $0.0945 | February 14, 2025 | February 14, 2025 | February 28, 2025 | January 02, 2025 |
| $0.0945 | $0.0945 | January 15, 2025 | January 15, 2025 | January 31, 2025 | January 02, 2025 |
| $0.0965 | $0.0965 | December 13, 2024 | December 13, 2024 | December 31, 2024 | October 01, 2024 |
| $0.0965 | $0.0965 | November 15, 2024 | November 15, 2024 | November 29, 2024 | October 01, 2024 |
| $0.0965 | $0.0965 | October 15, 2024 | October 15, 2024 | October 31, 2024 | October 01, 2024 |
| $0.0965 | $0.0965 | September 13, 2024 | September 13, 2024 | September 30, 2024 | July 01, 2024 |
| $0.0965 | $0.0965 | August 15, 2024 | August 15, 2024 | August 30, 2024 | July 01, 2024 |
| $0.0965 | $0.0965 | July 15, 2024 | July 15, 2024 | July 31, 2024 | July 01, 2024 |
| $0.0965 | $0.0965 | June 14, 2024 | June 14, 2024 | June 28, 2024 | April 01, 2024 |
| $0.0965 | $0.0965 | May 14, 2024 | May 15, 2024 | May 31, 2024 | |
| $0.0965 | $0.0965 | April 12, 2024 | April 15, 2024 | April 30, 2024 | April 01, 2024 |
| $0.0965 | $0.0965 | March 14, 2024 | March 15, 2024 | March 28, 2024 | January 02, 2024 |
| $0.0965 | $0.0965 | February 14, 2024 | February 15, 2024 | February 29, 2024 | January 02, 2024 |
| $0.0965 | $0.0965 | January 12, 2024 | January 16, 2024 | January 31, 2024 | January 02, 2024 |
| $0.0974 | $0.0974 | December 14, 2023 | December 15, 2023 | December 29, 2023 | October 02, 2023 |
| $0.0974 | $0.0974 | November 14, 2023 | November 15, 2023 | November 30, 2023 | October 02, 2023 |
RiverNorth Opportunistic Municipal Income Fund News
Read the latest news about RiverNorth Opportunistic Municipal Income Fund, including recent articles, headlines, and updates.
RiverNorth Closed-End Funds Declare Monthly Distributions
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--In accordance with the RiverNorth closed-end funds (the “Funds”) level distribution policies, the Funds have declared distributions for October, November and December 2024, as detailed below. Ex Date Record Date Payable Date October 15, 2024 October 15, 2024 October 31, 2024 November 15, 2024 November 15, 2024 November 29, 2024 December 13, 2024 December 13, 2024 December 31, 2024 Tax-Exempt Distributions1 Fund Name Ticker Distribution Per Share Net Asset.
Campbell stresses need for U.S. to approve deals with Pacific islands
WASHINGTON (Reuters) — It is essential the United States moves ahead in approving new agreements with three Pacific island states, the U.S. Indo-Pacific coordinator Kurt Campbell said on Thursday, stressing that China is waiting to take advantage if the United States fails to fulfill its commitments. Campbell made the comments about new 20-year funding programs for the Federated States of Micronesia (FSM), the Marshall Islands (RMI) and Palau awaiting congressional approval while testifying at a...
Responsible Mica Initiative Publishes Landmark Reports Defining Fair Mica Worker Incomes and Wages in India and Concluding Negligible Impact on Costs to Consumers
Reports provide path forward to lift mica villages in Bihar and Jharkhand out of poverty and eliminate child labor PARIS–(BUSINESS WIRE)–The Responsible Mica Initiative (RMI) is excited to announce the publication of two landmark reports that demonstrate that whilst the barriers on paying fair incomes or wages for mica workers in India are still high […]...
RiverNorth Closed-End Funds Declare Monthly Distributions and RiverNorth Flexible Municipal Income Fund, Inc. Declares Capital Gain Distribution
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--The RiverNorth closed-end funds (the “Funds”) have declared monthly distributions for April, May and June 2023 in accordance with each Fund’s level distribution policy. In addition, the RiverNorth Flexible Municipal Income Fund, Inc. has declared a capital gain distribution. Details below. Ex Date Record Date Payable Date April 13, 2023 April 14, 2023 April 28, 2023 May 12, 2023 May 15, 2023 May 31, 2023 June 14, 2023 June 15, 2023 June 30, 2023 Tax-Exempt Distributions1 Fund Name Ticker Distribution Per Share Change From Prior Distribution Net Asset Value (NAV) as of 3/31/2023 Annualized Current Distribution Rate at NAV Market Price as of 3/31/2023 Annualized Current Distribution Rate at Market RiverNorth Opportunistic Municipal Income Fund, Inc.1,2 RMI $0.0974 -- $17.39 6.72% $16.75 6.98% RiverNorth Managed Duration Municipal Income Fund, Inc.1,2 RMM $0.0911 -- $16.38 6.67% $15.07 7.25% RiverNorth Flexible Municipal Income Fund, Inc.1,2 RFM $0.0985 -- $17.64 6.70% $15.49 7.63% RiverNorth Flexible Municipal Income Fund II, Inc.1,2 RFMZ $0.0865 -- $15.41 6.74% $13.50 7.69% RiverNorth Managed Duration Municipal Income Fund II, Inc.1,2 RMMZ $0.0971 -- $17.38 6.70% $15.07 7.73% Taxable Distributions Fund Name Ticker Distribution Per Share Change From Prior Distribution Net Asset Value (NAV) as of 3/31/2023 Annualized Current Distribution Rate at NAV Market Price as of 3/31/2023 Annualized Current Distribution Rate at Market RiverNorth Opportunities Fund, Inc.3 RIV $0.1278 -- $12.43 12.34% $11.36 13.50% RiverNorth Capital and Income Fund, Inc.4* RSF $0.1424 -- $16.74 10.21% $15.43 11.07% RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.5 OPP $0.1021 -- $9.82 12.48% $8.56 14.31% * Formerly known as RiverNorth Specialty Finance Corporation. Effective December 7, 2022 the Fund changed its name to RiverNorth Capital and Income Fund, Inc. Capital Gain Distribution RiverNorth Flexible Municipal Income Fund’s capital gain distribution is in addition to its regular monthly distribution. It represents previously undistributed net long-term capital gains realized in 2022. Ex Date Record Date Payable Date Long-Term Capital Gain Distribution Per Share April 13, 2023 April 14, 2023 April 28, 2023 $0.396714 RMI, RMM, RFM, RFMZ, RMMZ, RIV, RSF and OPP are closed-end funds. Holders of each Fund’s common stock will receive the distribution under one of two options: Contact your broker-dealer where you hold the shares to confirm your distribution reinvestment election. With each distribution that does not consist solely of net investment income, the respective Fund will issue a notice to shareholders and an accompanying press release that will provide detailed information regarding the amount and composition of the distribution and other related information. The amounts and sources of distributions reported in the notice to shareholders are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during its full fiscal year and may be subject to changes based on tax regulations. Each Fund will send shareholders a Form 1099-DIV for the calendar year that will tell them how to report these distributions for federal income tax purposes. Each Fund may at times distribute more than its net investment income and net realized capital gains; therefore, a portion of the distribution may result in a return of capital. A return of capital occurs when some or all of the money that shareholders invested in the Fund is paid back to them. A return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income.’ Any such returns of capital will decrease the Fund’s total assets and, therefore, could have the effect of increasing the Fund’s expense ratio. In addition, in order to make the level of distributions called for under its plan, the Fund may have to sell its portfolio securities at a less than opportune time. About RiverNorth RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $5.1 billion6 in assets under management as of February 28, 2023, RiverNorth specializes in opportunistic investment strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is an institutional investment manager to registered funds, private funds and separately managed accounts. 1 Monthly distributions from RMI, RMM, RFM, RFMZ and RMMZ are expected to be generally exempt from regular U.S. federal income taxes, however, portions of these Funds’ distributions may (i) be subject to U.S. federal income tax, (ii) be includable in taxable income for purposes of the federal alternative minimum tax, or (iii) constitute a return of capital. Such distributions will also generally be subject to state and local taxes. RiverNorth does not provide tax advice; consult a professional tax advisor regarding your specific tax situation. 2 In accordance with their level distribution policies, the annual distribution rates for RMI, RMM, RFM, RFMZ and RMMZ have been set equal to 6.75% of the average of each Fund’s NAV per share as reported for the final five trading days of the preceding calendar year. 3 In accordance with its level distribution policy, RIV’s annual distribution rate has been set equal to 12.50% of the average of the Fund’s NAV per common share reported on the final five trading days of the preceding calendar year. 4 In accordance with its level distribution policy, RSF’s annual distribution rate has been set equal to 10.00% of the average of the Fund’s NAV per common share reported on the final five trading days of the preceding calendar year. 5 In accordance with its level distribution policy, OPP’s annual distribution rate has been set equal to 12.50% of the average of the Fund’s NAV per common share reported on the final five trading days of the preceding calendar year. 6 Firm AUM reflects Managed Assets which includes the effects of leverage and investments in affiliated funds. An investment in the Funds involves risk, including loss of principal. Investors should consider a Fund's investment objective, risks, charges, and expenses carefully before investing. Each Fund’s prospectus and most recent periodic reports contain this and other important information about the respective Fund and may be obtained by visiting rivernorth.com/literature or by calling your financial professional or RiverNorth at 844.569.4750. Member Firm ALPS Distributors Inc. Chris Lakumb is a registered representative of ALPS Distributors, Inc. Marketing services provided by ALPS Distributors Inc. RiverNorth Capital Management, LLC is not affiliated with DoubleLine Capital LP, or ALPS Distributors, Inc. Not FDIC Insured | May Lose Value | No Bank Guarantee RiverNorth® is a registered trademark of RiverNorth Capital Management, LLC. DoubleLine® is a registered trademark of DoubleLine Capital LP. ©2000-2023 RiverNorth Capital Management, LLC. All rights reserved. RMI000310
RiverNorth Closed-End Funds Declare Year-End Capital Gain Distributions
CHICAGO--(BUSINESS WIRE)--The RiverNorth Opportunistic Municipal Income Fund, Inc. and the RiverNorth Flexible Municipal Income Fund, Inc. have each declared a year-end capital gain distribution, as detailed below. These year-end capital gain distributions are in addition to each Fund’s regular monthly distribution and are being paid to allow the funds to meet their 2021 distribution requirements. Ex Date Record Date Payable Date December 20, 2021 December 21, 2021 December 31, 2021 Ticker Fund Name Short-Term Capital Gain Distribution Per Share Long-Term Capital Gain Distribution Per Share RMI1 RiverNorth Opportunistic Municipal Income Fund, Inc. $0.00000 $1.18515 Ticker Fund Name Short-Term Capital Gain Distribution Per Share Long-Term Capital Gain Distribution Per Share RFM1 RiverNorth Flexible Municipal Income Fund, Inc. $0.48349 $0.56526 ___________________________________________________________________________________ 1. RiverNorth does not provide tax advice; consult a professional tax advisor regarding your specific tax situation. Income may be subject to state and local taxes as well as the AMT. Determination as to taxability will be provided in early 2022. Holders of each Fund’s common stock will receive the distribution under one of two options: 1. Receive additional full and fractional shares of the respective Fund’s common stock or, 2. Elect to receive cash for the dividend and distribution. Contact your broker-dealer where you hold the shares to confirm your distribution reinvestment election. As of the date of this release, the RiverNorth/DoubleLine Strategic Opportunity Fund, Inc., the RiverNorth Specialty Finance Corp., the RiverNorth Managed Duration Municipal Income Fund, Inc., and the RiverNorth Flexible Municipal Income Fund II, Inc., do not anticipate having to make year-end capital gain distributions. Such determinations are based on then current estimates and are subject to change. About RiverNorth RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $5.6 billion2 in assets under management as of October 31, 2021, RiverNorth specializes in opportunistic investment strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is an institutional investment manager to registered funds, private funds and separately managed accounts. This data is for information only and should not be construed as an official tax form, nor should it be considered tax or investment advice. RiverNorth is not a tax advisor and investors should consult a tax professional for guidance regarding their specific tax situation. When preparing your tax return, please refer to your Form 1099-DIV and consult your legal or tax advisor. A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short‐term capital gain, long‐term capital gain and return of capital. The final determination of the source of all distributions, including the percentage of qualified dividend income, is made after year‐end. Past performance is no guarantee of future results. Investors should consider the Fund's investment objective, risks, charges and expenses carefully before investing. The prospectus should be read carefully before investing. For more information, please read the prospectus, call your financial professional or call 844.569.4750. The Funds referenced above are closed-end funds, and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering periods have closed, each Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value. Shares of closed-end investment companies frequently trade at a discount to their net asset value and initial offering price. The risk of loss due to this discount may be greater for initial investors expecting to sell their shares in a relatively short period after completion of the initial public offering. Investments in the Funds are not appropriate for all investors and are not intended to be complete investment programs. The Funds are designed as a long-term investments and not as a trading vehicles. Risk is inherent in all investing. Investing in any investment company security involves risk, including the risk that you may receive little or no return on your investment or even that you may lose part or all of your investment. Therefore, before investing in the common shares of a Fund, you should consider the risks as well as the other information in each Fund’s prospectus. 2 Firm AUM reflects Managed Assets which includes the effects of leverage and investments in affiliated funds. Chris Lakumb is a registered representative of ALPS Distributors, Inc. Not FDIC Insured | May Lose Value | No Bank Guarantee ALPS Distributors, Inc. is the FINRA Member Firm. RiverNorth® is a registered trademark of RiverNorth Capital Management, LLC. DoubleLine® is a registered trademark of DoubleLine Capital LP. ©2000-2021 RiverNorth Capital Management, LLC. All rights reserved. RMI000240
Corrected Year-End Capital Gains Distribution Information for RiverNorth Flexible Municipal Income Fund, Inc. and RiverNorth Opportunistic Municipal Income Fund, Inc.
CHICAGO--(BUSINESS WIRE)--RiverNorth Flexible Municipal Income Fund, Inc. (NYSE: RFM) and RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE: RMI) are announcing corrections to the information provided with respect to each fund’s year-end capital gains distribution, discussed below. This corrects the information previously announced in a December 4, 2020 press release. The RiverNorth Flexible Municipal Income Fund, Inc. has determined that no year-end capital gains distribution is necessary. The December 4, 2020 press release incorrectly included a distribution amount consisting of $0.22830 of short-term capital gains and $0.04687 of long-term capital gains. The correct distribution amount applicable to the year-end capital gains distribution for the RiverNorth Opportunistic Municipal Income Fund, Inc. is as follows: RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE: RMI)1 Short-Term Capital Gains Distribution Per Share Long-Term Capital Gains Distribution Per Share Revised $0.00000 $0.19489 The December 4, 2020 press release originally disclosed a distribution amount consisting of $0.31355 of long-term capital gains. There are no changes to the dates for the distribution, which are restated below: Ex Date Record Date Payable Date December 16, 2020 December 17, 2020 December 31, 2020 All revisions described are being made in response to corrected excise tax calculations provided by the funds’ administrator. There are no changes to the funds’ regular monthly distributions that are scheduled to be paid on December 31, 2020 to shareholders of record on December 17, 2020. All other information contained in the December 4, 2020 press release remains unchanged. Disclosures With each distribution that does not consist solely of net investment income, the respective Fund will issue a notice to shareholders that will provide detailed information regarding the amount and composition of the distribution and other related information. The amounts and sources of distributions reported in the notice to shareholders are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during its full fiscal year and may be subject to changes based on tax regulations. Each Fund will send shareholders a Form 1099-DIV for the calendar year that will tell them how to report these distributions for federal income tax purposes. Each Fund may at times distribute more than its net investment income and net realized capital gains; therefore, a portion of the distribution may result in a return of capital. A return of capital occurs when some or all of the money that shareholders invested in the Fund is paid back to them. A return of capital does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income.’ Any such returns of capital will decrease the Fund’s total assets and, therefore, could have the effect of increasing the Fund’s expense ratio. In addition, in order to make the level of distributions called for under its plan, the Fund may have to sell its portfolio securities at a less than opportune time. About RiverNorth RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $4.4 billion2 in assets under management as of October 31, 2020, RiverNorth specializes in opportunistic investment strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is an institutional investment manager to registered funds, private funds and separately managed accounts. This data is for information only and should not be construed as an official tax form, nor should it be considered tax or investment advice. RiverNorth is not a tax advisor and investors should consult a tax professional for guidance regarding their specific tax situation. When preparing your tax return, please refer to your Form 1099-DIV and consult your legal or tax advisor. A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short‐term capital gain, long‐term capital gain and return of capital. Past performance is no guarantee of future results. Investors should consider the Fund's investment objective, risks, charges and expenses carefully before investing. The prospectus should be read carefully before investing. For more information, please read the prospectus, call your financial professional or call 844.569.4750. The Funds referenced above are closed-end funds, and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering periods have closed, each Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value. Shares of closed-end investment companies frequently trade at a discount to their net asset value and initial offering price. The risk of loss due to this discount may be greater for initial investors expecting to sell their shares in a relatively short period after completion of the initial public offering. Investments in the Funds are not appropriate for all investors and are not intended to be complete investment programs. The Funds are designed as a long-term investments and not as a trading vehicles. Risk is inherent in all investing. Investing in any investment company security involves risk, including the risk that you may receive little or no return on your investment or even that you may lose part or all of your investment. Therefore, before investing in the common shares of a Fund, you should consider the risks as well as the other information in each Fund’s prospectus. 2 Firm AUM reflects Managed Assets which includes the effects of leverage and investments in affiliated funds. Not FDIC Insured | May Lose Value | No Bank Guarantee ALPS Distributors, Inc. is the FINRA Member Firm. RiverNorth® is a registered trademark of RiverNorth Capital Management, LLC. ©2000-2020 RiverNorth Capital Management, LLC. All rights reserved. RMI000184
Municipal Funds-Of-Funds Are Not A Slam Dunk
With hundreds of open-end and closed-end funds in the tax-exempt sector figuring out the best allocation is a daunting task. Funds-of-funds, or funds that hold other municipal funds, are attractive in providing a way to quickly gain exposure to a basket of funds and eliminate an element of bad luck.
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Related Metrics
Explore detailed financial metrics and analysis for RMI.