RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Short Interest Update

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the recipient of a large decline in short interest in March. As of March 15th, there was short interest totalling 12,100 shares, a decline of 13.6% from the February 28th total of 14,000 shares. Based on an average daily volume of 22,200 shares, the days-to-cover ratio is currently 0.5 days.

RiverNorth Opportunistic Municipal Income Fund Price Performance

RMI stock traded up $0.01 during mid-day trading on Wednesday, reaching $15.01. The company had a trading volume of 249 shares, compared to its average volume of 20,146. RiverNorth Opportunistic Municipal Income Fund has a fifty-two week low of $14.79 and a fifty-two week high of $16.74. The firm has a fifty day simple moving average of $15.51 and a 200 day simple moving average of $15.72.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.0945 per share. This represents a $1.13 annualized dividend and a yield of 7.56%. The ex-dividend date of this dividend was Friday, March 14th.

Institutional Investors Weigh In On RiverNorth Opportunistic Municipal Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Logan Stone Capital LLC grew its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 187.5% during the fourth quarter. Logan Stone Capital LLC now owns 112,766 shares of the company’s stock worth $1,698,000 after purchasing an additional 73,541 shares in the last quarter. Wolverine Asset Management LLC boosted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 133.4% during the 4th quarter. Wolverine Asset Management LLC now owns 87,801 shares of the company’s stock worth $1,322,000 after acquiring an additional 50,176 shares in the last quarter. Independent Advisor Alliance purchased a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the 4th quarter valued at about $629,000. LPL Financial LLC acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund during the 4th quarter worth about $371,000. Finally, Raymond James Financial Inc. acquired a new position in RiverNorth Opportunistic Municipal Income Fund in the fourth quarter valued at approximately $337,000.

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.