Short Interest in RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Drops By 13.6%

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

RiverNorth Opportunistic Municipal Income Fund Price Performance

Shares of RMI opened at $14.94 on Friday. RiverNorth Opportunistic Municipal Income Fund has a one year low of $14.79 and a one year high of $16.74. The business’s 50 day simple moving average is $15.48 and its 200-day simple moving average is $15.70.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.0945 dividend. This represents a $1.13 dividend on an annualized basis and a yield of 7.59%. The ex-dividend date of this dividend is Friday, June 13th.

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

Several large investors have recently made changes to their positions in RMI. Stratos Wealth Partners LTD. grew its holdings in RiverNorth Opportunistic Municipal Income Fund by 1.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 483,316 shares of the company’s stock worth $7,279,000 after acquiring an additional 8,865 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 8.1% during the fourth quarter. Wells Fargo & Company MN now owns 138,287 shares of the company’s stock worth $2,083,000 after purchasing an additional 10,381 shares in the last quarter. 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 valued at $1,698,000 after purchasing an additional 73,541 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 133.4% in the fourth quarter. Wolverine Asset Management LLC now owns 87,801 shares of the company’s stock valued at $1,322,000 after purchasing an additional 50,176 shares in the last quarter. Finally, Robinson Capital Management LLC raised its position in RiverNorth Opportunistic Municipal Income Fund by 22.3% in the 4th quarter. Robinson Capital Management LLC now owns 46,217 shares of the company’s stock worth $696,000 after purchasing an additional 8,441 shares during the last quarter.

About RiverNorth Opportunistic Municipal Income Fund

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.