Assets Under Management AUM

RiverNorth Closed-End Funds Report Year-End Capital Gains Distributions | News

CHICAGO – (BUSINESS WIRE) – Dec. 10 2021–

The RiverNorth Opportunistic Municipal Income Fund, Inc. and the RiverNorth Flexible Municipal Income Fund, Inc. each declared a year-end capital gain distribution, as detailed below. These year-end capital gains distributions are in addition to each Fund’s regular monthly distribution and are paid to enable the funds to meet their 2021 distribution requirements.

Date of departure

Registration Date

Payment date

20 December 2021

December 21, 2021

December 31, 2021


Fund name

Distribution of short-term capital gains per share

Distribution of long-term capital gains per share


RiverNorth Opportunistic Municipal Income Fund, Inc.

$ 0.00000

$ 1.18515


Fund name

Distribution of short-term capital gains per share

Distribution of long-term capital gains per share


RiverNorth Flexible Municipal Income Fund, Inc.

$ 0.48349

$ 0.56526

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1. RiverNorth does not provide tax advice; consult a professional tax advisor about your particular tax situation. Income may be subject to national and local taxes as well as AMT.

The determination of the taxation will be provided in early 2022. The holders of common shares of each Fund will receive the distribution under one of the following two options:

1. Receive additional whole and fractional units of the ordinary shares of the respective Fund


2. Choose to receive cash for dividend and distribution.

Contact your broker where you hold the shares to confirm your choice to reinvest the distributions.

As of the date of this press release, RiverNorth / DoubleLine Strategic Opportunity Fund, Inc., RiverNorth Specialty Finance Corp., RiverNorth Managed Duration Municipal Income Fund, Inc. and RiverNorth Flexible Municipal Income Fund II, Inc. do not expect to have to make any end-of-year capital gains distributions. These determinations are based on estimates then in effect 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 for registered funds, private funds and separately managed accounts.

This data is provided for informational purposes only and should not be construed as an official tax form, nor should it be construed as tax or investment advice. RiverNorth is not a tax advisor and investors should consult a tax advisor for advice regarding their specific tax situation. When preparing your income tax return, please refer to your Form 1099-DIV and consult your legal or tax advisor.

A portion of the distribution can be considered paid from sources other than net income, including, but not limited to, short-term capital gains, long-term capital gains, and return of capital . The final determination of the source of all distributions, including the percentage of eligible dividend income, is made after year end.

Past performance is no guarantee of future results.

Investors should carefully consider the investment objective, risks, charges and expenses of the Fund 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 mentioned above are closed-end funds, and closed-end funds do not continuously issue stocks for sale like open-end mutual funds. Since the close of the initial public offering periods, each Fund now trades in the secondary market. Investors wishing to buy or sell stocks must place orders through an intermediary or broker. The share price of a closed fund is based on market value.

The shares of closed-end investment companies frequently trade below their net asset value and their initial offering price. The risk of loss due to this discount may be greater for initial investors who plan to sell their shares within a relatively short period of time after the closing of the initial public offering.

Investments in the Funds are not suitable for all investors and are not intended to constitute complete investment programs. The Funds are designed as long term investments and not as trading vehicles.

Risk is inherent in any investment. There are risks associated with investing in an investment company security, including the risk that you will receive little or no return on your investment or even lose some 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 contained in the prospectus of each Fund.

2Company assets under management reflect assets under management which include leverage and investments in affiliated funds.

Chris Lakumb is a registered representative of ALPS Distributors, Inc.

Not insured by FDIC | may lose value | No bank guarantee

ALPS Distributors, Inc. is the member company of FINRA.

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.


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CONTACT: Investor contact

Chris Lakumb, CFA, CAIA


[email protected]



SOURCE: RiverNorth Capital Management, LLC

Copyright Business Wire 2021.

PUB: 12/10/2021 4:33 PM / DISC: 12/10/2021 4:33 PM

Copyright Business Wire 2021.