Scott Sprauer, a portfolio manager at RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI), recently executed a sale of the company's common stock. According to a recent SEC filing, Sprauer sold 752 shares on November 4, 2024, at a price of $15.91 per share. The total value of the transaction amounted to $11,964. Following this sale, Sprauer no longer holds any shares in the fund.
InvestingPro Insights
The recent stock sale by Scott Sprauer at RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) comes at a time when the fund's performance has been mixed. According to InvestingPro data, RMI has shown a positive 1-year price total return of 19.69%, indicating some resilience in the longer term. However, the fund's short-term performance has been less impressive, with a 1-month price total return of -1.87%.
InvestingPro Tips reveal that RMI "operates with a moderate level of debt" and "does not pay a dividend to shareholders." These factors may influence investor sentiment and could potentially explain Sprauer's decision to sell his remaining shares. It's worth noting that despite not paying dividends directly, the fund offers a projected dividend yield of 7.26% for 2024, with the last ex-dividend date on October 15, 2024.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for RMI, providing a deeper understanding of the fund's financial health and market position. These insights could be particularly valuable given the fund's recent stock price movements and its unique position in the municipal income sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.