RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) is a closed-end management investment company that seeks to deliver high current income exempt from federal regular income tax. The fund primarily invests in a diversified portfolio of municipal securities issued by U.S. state and local governments, agencies, authorities and other political subdivisions. Through its opportunistic mandate, RMI targets a blend of investment-grade and high‐yield credits across various sectors, including essential services, infrastructure and general obligations, with the goal of enhancing yield and managing risk.
The fund employs a dynamic approach to portfolio construction, drawing on the expertise of RiverNorth Capital Management’s municipal credit analysts and portfolio managers. RMI may tactically adjust durations, sector exposures and credit quality in response to evolving market conditions, interest rate trends and fiscal developments at the state and local levels. In addition to traditional municipal bonds, the fund may use derivative instruments, inverse floating-rate securities and leverage within regulatory limits to seek attractive risk-adjusted returns and to manage portfolio volatility.
Since its inception, RiverNorth Opportunistic Municipal Income Fund has aimed to capitalize on relative value opportunities across the municipal bond market, spanning both larger metropolitan issuers and smaller, niche credits. Headquartered in Chicago, RiverNorth Capital Management brings a platform of fixed income expertise, leveraging research capabilities and market insights. Under the leadership of a dedicated municipal team, RMI serves a national investor base, offering daily liquidity on the NYSE and regular monthly distributions to shareholders seeking tax-advantaged income.
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