RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Sees Significant Decline in Short Interest

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the recipient of a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 14,600 shares, a decline of 34.8% from the January 31st total of 22,400 shares. Based on an average daily volume of 27,500 shares, the short-interest ratio is currently 0.5 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nomura Holdings Inc. purchased a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the 4th quarter worth approximately $167,000. Logan Stone Capital LLC raised its stake in RiverNorth Opportunistic Municipal Income Fund by 187.5% in the fourth quarter. Logan Stone Capital LLC now owns 112,766 shares of the company’s stock worth $1,698,000 after buying an additional 73,541 shares in the last quarter. Bank of America Corp DE lifted its holdings in RiverNorth Opportunistic Municipal Income Fund by 35.6% during the fourth quarter. Bank of America Corp DE now owns 2,440 shares of the company’s stock worth $37,000 after buying an additional 640 shares during the period. Raymond James Financial Inc. purchased a new stake in RiverNorth Opportunistic Municipal Income Fund during the fourth quarter worth $337,000. Finally, Wells Fargo & Company MN boosted its position in RiverNorth Opportunistic Municipal Income Fund by 8.1% during the 4th quarter. Wells Fargo & Company MN now owns 138,287 shares of the company’s stock valued at $2,083,000 after acquiring an additional 10,381 shares in the last quarter.

RiverNorth Opportunistic Municipal Income Fund Price Performance

Shares of NYSE:RMI opened at $15.77 on Friday. The business’s 50 day moving average is $15.47 and its 200 day moving average is $15.82. RiverNorth Opportunistic Municipal Income Fund has a 52-week low of $14.79 and a 52-week high of $16.74.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.0945 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.13 annualized dividend and a dividend yield of 7.19%.

RiverNorth Opportunistic Municipal Income Fund Company Profile

The RiverNorth Opportunistic Municipal Income Fund, Inc (the “Fund”) seeks to provide current income exempt from regular U.S. federal income taxes1 with a secondary objective of total return.