Form 4: RiverNorth Capital Management Transfers Shares in Opportunistic Municipal Income Fund

RiverNorth Capital Management, LLC transferred 5,010 common shares of RiverNorth Opportunistic Municipal Income Fund, Inc. to a sister company.

Summary

• RiverNorth Capital Management, LLC, an adviser to RiverNorth Opportunistic Municipal Income Fund, Inc., transferred 5,010 common shares of the fund.
• The shares were transferred to a sister company within the same organization.
• The transfer was not a sale and did not involve a transaction price.
• These shares represent the initial seed capital investment in the Issuer required under the Investment Company Act of 1940.

Sentiment

Score: 7

Explanation: The document reflects a routine internal transfer of shares, which is a neutral event. There are no indications of positive or negative sentiment, but the transaction is expected and does not raise any concerns.

Industry Context

This type of transaction is common within investment management firms, where internal transfers of assets between related entities occur for various operational and regulatory reasons. It does not indicate a change in the fund's strategy or performance.

Comparison to Industry Standards

• Internal transfers of seed capital are standard practice in the investment management industry, particularly for closed-end funds.
• Similar transfers occur across various fund managers, such as BlackRock, PIMCO, and Franklin Templeton, when establishing new funds or reorganizing existing ones.
• These transfers are typically done at no transaction price and are not indicative of market activity or fund performance.

Related Party Transactions

• The transfer of shares to a sister company is a related party transaction.

Stakeholder Impact

• The share transfer is not expected to have a significant impact on shareholders as it is an internal transaction.
• The transfer does not affect the fund's operations or investment strategy.

Key Dates

Keywords

RiverNorth Capital Management, RiverNorth Opportunistic Municipal Income Fund, share transfer, seed capital, investment company act, beneficial ownership