{"id":509135,"date":"2021-07-01T16:33:13","date_gmt":"2021-07-01T20:33:13","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-2\/"},"modified":"2021-07-01T16:33:13","modified_gmt":"2021-07-01T20:33:13","slug":"rivernorth-closed-end-funds-declare-monthly-distributions-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-2\/","title":{"rendered":"RiverNorth Closed-End Funds Declare Monthly Distributions"},"content":{"rendered":"

<\/p>\n

RiverNorth Closed-End Funds Declare Monthly Distributions <\/b><\/p>\n

CHICAGO–(BUSINESS WIRE<\/a>)–
\nSeveral RiverNorth closed-end funds (the \u201cFunds\u201d) have announced the declaration of monthly distributions for July, August and September 2021 in accordance with each Fund\u2019s level distribution policy, as detailed below.\n<\/p>\n\n\n\n\n\n
\n

Ex Date<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

Record Date<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

Payable Date<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nJuly 15, 2021\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\nJuly 16, 2021\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\nJuly 30, 2021\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAugust 16, 2021\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\nAugust 17, 2021\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\nAugust 31, 2021\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nSeptember 15, 2021\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\nSeptember 16, 2021\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\nSeptember 30, 2021\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Tax-Exempt Distributions<\/b>1<\/sup><\/p>\n\n\n\n\n\n\n
\n

Fund Name<\/b><\/p>\n<\/td>\n

\n

Ticker<\/b><\/p>\n<\/td>\n

\n

Distribution Per Share<\/b><\/p>\n<\/td>\n

\n

Change From Prior Distribution<\/b><\/p>\n<\/td>\n

\n

Net Asset Value (NAV) as of
\n
6\/30\/2021<\/b><\/p>\n<\/td>\n

\n

Annualized Current Distribution Rate at NAV<\/b><\/p>\n<\/td>\n

\n

Market Price as of 6\/30\/2021<\/b><\/p>\n<\/td>\n

\n

Annualized Current Distribution Rate at Market<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

RiverNorth Opportunistic Municipal Income Fund, Inc.1,2<\/sup><\/b><\/p>\n<\/td>\n

\n

\nRMI\n<\/p>\n<\/td>\n

\n

\n$0.0917\n<\/p>\n<\/td>\n

\n

\n\u2012\n<\/p>\n<\/td>\n

\n

\n$24.36\n<\/p>\n<\/td>\n

\n

\n4.52%\n<\/p>\n<\/td>\n

\n

\n$23.16\n<\/p>\n<\/td>\n

\n

\n4.75%\n<\/p>\n<\/td>\n<\/tr>\n

\n

RiverNorth Managed Duration Municipal Income Fund, Inc.1,3<\/sup><\/b><\/p>\n<\/td>\n

\n

\nRMM\n<\/p>\n<\/td>\n

\n

\n$0.0917\n<\/p>\n<\/td>\n

\n

\n\u2012\n<\/p>\n<\/td>\n

\n

\n$20.61\n<\/p>\n<\/td>\n

\n

\n5.34%\n<\/p>\n<\/td>\n

\n

\n$20.28\n<\/p>\n<\/td>\n

\n

\n5.43%\n<\/p>\n<\/td>\n<\/tr>\n

\n

RiverNorth Flexible Municipal Income Fund, Inc.1,4<\/sup><\/b><\/p>\n<\/td>\n

\n

\nRFM\n<\/p>\n<\/td>\n

\n

\n$0.1042\n<\/p>\n<\/td>\n

\n

\n\u2012\n<\/p>\n<\/td>\n

\n

\n$24.73\n<\/p>\n<\/td>\n

\n

\n5.06%\n<\/p>\n<\/td>\n

\n

\n$23.65\n<\/p>\n<\/td>\n

\n

\n5.29%\n<\/p>\n<\/td>\n<\/tr>\n

\n

RiverNorth Flexible Municipal Income Fund II, Inc.1,5<\/sup><\/b><\/p>\n<\/td>\n

\n

\nRFMZ\n<\/p>\n<\/td>\n

\n

\n$0.1000\n<\/p>\n<\/td>\n

\n

\n\u2012\n<\/p>\n<\/td>\n

\n

\n$20.77\n<\/p>\n<\/td>\n

\n

\n5.78%\n<\/p>\n<\/td>\n

\n

\n$20.41\n<\/p>\n<\/td>\n

\n

\n5.88%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Taxable Distributions <\/b><\/p>\n\n\n\n\n
\n

Fund Name<\/b><\/p>\n<\/td>\n

\n

Ticker<\/b><\/p>\n<\/td>\n

\n

Distribution Per Share<\/b><\/p>\n<\/td>\n

\n

Change From Prior Distribution<\/b><\/p>\n<\/td>\n

\n

Net Asset Value (NAV) as of
\n
6\/30\/2021<\/b><\/p>\n<\/td>\n

\n

Annualized Current Distribution Rate at NAV<\/b><\/p>\n<\/td>\n

\n

Market Price as of 6\/30\/2021<\/b><\/p>\n<\/td>\n

\n

Annualized Current Distribution Rate at Market<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

RiverNorth\/DoubleLine Strategic Opportunity Fund, Inc.6<\/sup><\/b><\/p>\n<\/td>\n

\n

\nOPP\n<\/p>\n<\/td>\n

\n

\n$0.1586\n<\/p>\n<\/td>\n

\n

\n\u2012\n<\/p>\n<\/td>\n

\n

\n$15.32\n<\/p>\n<\/td>\n

\n

\n12.42%\n<\/p>\n<\/td>\n

\n

\n$15.58\n<\/p>\n<\/td>\n

\n

\n12.22%\n<\/p>\n<\/td>\n<\/tr>\n

\n

RiverNorth Specialty Finance Corporation7<\/sup><\/b><\/p>\n<\/td>\n

\n

\nRSF\n<\/p>\n<\/td>\n

\n

\n$0.1523\n<\/p>\n<\/td>\n

\n

\n\u2012\n<\/p>\n<\/td>\n

\n

\n$20.06\n<\/p>\n<\/td>\n

\n

\n9.11%\n<\/p>\n<\/td>\n

\n

\n$19.90\n<\/p>\n<\/td>\n

\n

\n9.18%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nRMI, RMM, RFM, RFMZ, OPP, and RSF are closed-end funds.\n<\/p>\n

    \n
  1. \nMonthly distributions from RMI, RMM, RFM and RFMZ are expected to be generally exempt from regular U.S. federal income taxes, however, portions of these Funds\u2019 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.\n<\/li>\n
  2. \nIn accordance with its level distribution policy, RMI\u2019s annual distribution rate has been set equal to 5.50% of the Fund\u2019s initial public offering price of $20.00 per share.\n<\/li>\n
  3. \nIn accordance with its level distribution policy, RMM\u2019s annual distribution rate has been set equal to 5.50% of the Fund\u2019s initial public offering price of $20.00 per share.\n<\/li>\n
  4. \nIn accordance with its level distribution policy, RFM\u2019s annual distribution rate has been set equal to 6.25% of the Fund\u2019s initial public offering price of $20.00 per share.\n<\/li>\n
  5. \nIn accordance with its level distribution policy, RFMZ\u2019s annual distribution rate has been set equal to 6.00% of the Fund\u2019s initial public offering price of $20.00 per share.\n<\/li>\n
  6. \nIn accordance with its level distribution policy, OPP\u2019s annual distribution rate has been set to 12.50% of the average of the Fund\u2019s NAV per common share reported the final five trading days of the preceding calendar year.\n<\/li>\n
  7. \nIn accordance with its level distribution policy, RSF\u2019s annual distribution rate has been set to 10.00% of the average of the Fund\u2019s NAV per common share reported the final five trading days of the preceding calendar year.\n<\/li>\n<\/ol>\n

    \nWith 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\u2019s 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.\n<\/p>\n

    \nEach 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\u2019s investment performance and should not be confused with \u2018yield\u2019 or \u2018income.\u2019 Any such returns of capital will decrease the Fund\u2019s total assets and, therefore, could have the effect of increasing the Fund\u2019s 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.\n<\/p>\n

    About RiverNorth<\/b><\/p>\n

    \nRiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $5.3 billion8<\/sup> in assets under management as of May 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.\n<\/p>\n

    \n8. Firm AUM reflects Managed Assets which includes the effects of leverage and investments in affiliated funds.\n<\/p>\n

    \nAn investment in the Funds involves risk, including loss of principal.\n<\/p>\n

    \nChris Lakumb is a registered representative of ALPS Distributors, Inc. RiverNorth Capital Management, LLC is not affiliated with DoubleLine Capital LP, or ALPS Distributors, Inc.\n<\/p>\n

    Investors should consider a Fund’s investment objective, risks, charges and expenses carefully before investing. Each Fund\u2019s 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<\/a> or by calling your financial professional or RiverNorth at 844.569.4750. <\/i><\/b><\/p>\n

    \nNot FDIC Insured | May Lose Value | No Bank Guarantee
    \n
    ALPS Distributors, Inc. is the FINRA Member Firm.
    \n
    RiverNorth\u00ae is a registered trademark of RiverNorth Capital Management, LLC.
    \n
    DoubleLine\u00ae is a registered trademark of DoubleLine Capital LP.
    \n
    \u00a92000-2021 RiverNorth Capital Management, LLC. All rights reserved.
    \n
    RMI000214\n<\/p>\n

    \"\"<\/p>\n

    View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210701005759\/en\/<\/a><\/span><\/p>\n

    Investor Contact
    \n<\/b>
    Chris Lakumb, CFA, CAIA
    \n
    312.445.2336
    \n
    clakumb@rivernorth.com<\/a><\/span><\/p>\n

    KEYWORDS:<\/b> Illinois United States North America<\/p>\n

    INDUSTRY KEYWORDS:<\/b> Banking Professional Services Finance<\/p>\n

    MEDIA:<\/b><\/p>\n\n\n\n\n
    Logo<\/b><\/font><\/td>\n<\/tr>\n
    \"Logo\"<\/td>\n<\/tr>\n
    <\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

    RiverNorth Closed-End Funds Declare Monthly Distributions CHICAGO–(BUSINESS WIRE)– Several RiverNorth closed-end funds (the \u201cFunds\u201d) have announced the declaration of monthly distributions for July, August and September 2021 in accordance with each Fund\u2019s level distribution policy, as detailed below. Ex Date \u00a0 Record Date \u00a0 Payable Date July 15, 2021 \u00a0 July 16, 2021 \u00a0 July 30, 2021 August 16, 2021 \u00a0 August 17, 2021 \u00a0 August 31, 2021 September 15, 2021 \u00a0 September 16, 2021 \u00a0 September 30, 2021 Tax-Exempt Distributions1 Fund Name Ticker Distribution Per Share Change From Prior Distribution Net Asset Value (NAV) as of 6\/30\/2021 Annualized Current Distribution Rate at NAV Market Price as of 6\/30\/2021 Annualized Current Distribution Rate at Market RiverNorth Opportunistic Municipal Income Fund, … <\/p>\n

    Continue reading “RiverNorth Closed-End Funds Declare Monthly Distributions”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-509135","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nRiverNorth Closed-End Funds Declare Monthly Distributions - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RiverNorth Closed-End Funds Declare Monthly Distributions - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"RiverNorth Closed-End Funds Declare Monthly Distributions CHICAGO–(BUSINESS WIRE)– Several RiverNorth closed-end funds (the \u201cFunds\u201d) have announced the declaration of monthly distributions for July, August and September 2021 in accordance with each Fund\u2019s level distribution policy, as detailed below. Ex Date \u00a0 Record Date \u00a0 Payable Date July 15, 2021 \u00a0 July 16, 2021 \u00a0 July 30, 2021 August 16, 2021 \u00a0 August 17, 2021 \u00a0 August 31, 2021 September 15, 2021 \u00a0 September 16, 2021 \u00a0 September 30, 2021 Tax-Exempt Distributions1 Fund Name Ticker Distribution Per Share Change From Prior Distribution Net Asset Value (NAV) as of 6\/30\/2021 Annualized Current Distribution Rate at NAV Market Price as of 6\/30\/2021 Annualized Current Distribution Rate at Market RiverNorth Opportunistic Municipal Income Fund, … Continue reading "RiverNorth Closed-End Funds Declare Monthly Distributions"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-01T20:33:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210701005759r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rivernorth-closed-end-funds-declare-monthly-distributions-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rivernorth-closed-end-funds-declare-monthly-distributions-2\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"RiverNorth Closed-End Funds Declare Monthly Distributions\",\"datePublished\":\"2021-07-01T20:33:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rivernorth-closed-end-funds-declare-monthly-distributions-2\\\/\"},\"wordCount\":951,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rivernorth-closed-end-funds-declare-monthly-distributions-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210701005759r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rivernorth-closed-end-funds-declare-monthly-distributions-2\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/rivernorth-closed-end-funds-declare-monthly-distributions-2\\\/\",\"name\":\"RiverNorth Closed-End Funds Declare Monthly Distributions - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-2\/","og_locale":"en_US","og_type":"article","og_title":"RiverNorth Closed-End Funds Declare Monthly Distributions - Market Newsdesk","og_description":"RiverNorth Closed-End Funds Declare Monthly Distributions CHICAGO–(BUSINESS WIRE)– Several RiverNorth closed-end funds (the \u201cFunds\u201d) have announced the declaration of monthly distributions for July, August and September 2021 in accordance with each Fund\u2019s level distribution policy, as detailed below. Ex Date \u00a0 Record Date \u00a0 Payable Date July 15, 2021 \u00a0 July 16, 2021 \u00a0 July 30, 2021 August 16, 2021 \u00a0 August 17, 2021 \u00a0 August 31, 2021 September 15, 2021 \u00a0 September 16, 2021 \u00a0 September 30, 2021 Tax-Exempt Distributions1 Fund Name Ticker Distribution Per Share Change From Prior Distribution Net Asset Value (NAV) as of 6\/30\/2021 Annualized Current Distribution Rate at NAV Market Price as of 6\/30\/2021 Annualized Current Distribution Rate at Market RiverNorth Opportunistic Municipal Income Fund, … Continue reading \"RiverNorth Closed-End Funds Declare Monthly Distributions\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-2\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-01T20:33:13+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210701005759r1&sid=flmnd&distro=nx&lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-2\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-2\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"RiverNorth Closed-End Funds Declare Monthly Distributions","datePublished":"2021-07-01T20:33:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-2\/"},"wordCount":951,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-2\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210701005759r1&sid=flmnd&distro=nx&lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-2\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/rivernorth-closed-end-funds-declare-monthly-distributions-2\/","name":"RiverNorth Closed-End Funds Declare Monthly Distributions - 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