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

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) saw a large growth in short interest in August. As of August 14th, there was short interest totaling 44,376 shares, a growth of 197.2% from the July 30th total of 14,931 shares. Based on an average trading volume of 18,634 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMI. Bank of America Corp DE grew its holdings in RiverNorth Opportunistic Municipal Income Fund by 35.6% during the 4th quarter. Bank of America Corp DE now owns 2,440 shares of the company’s stock valued at $37,000 after buying an additional 640 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the fourth quarter worth $161,000. Osaic Holdings Inc. boosted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 17.0% during the second quarter. Osaic Holdings Inc. now owns 15,909 shares of the company’s stock worth $227,000 after acquiring an additional 2,315 shares during the last quarter. Arlington Capital Management Inc. bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund during the third quarter worth $253,000. Finally, Envestnet Asset Management Inc. purchased a new position in RiverNorth Opportunistic Municipal Income Fund during the third quarter valued at $494,000.

RiverNorth Opportunistic Municipal Income Fund Stock Performance

Shares of RMI remained flat at $15.13 during trading hours on Friday. 6,777 shares of the company were exchanged, compared to its average volume of 22,732. The company’s 50-day simple moving average is $15.49 and its 200-day simple moving average is $15.39. RiverNorth Opportunistic Municipal Income Fund has a 52 week low of $13.81 and a 52 week high of $16.36.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were paid a dividend of $0.0889 per share. This represents a c) annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend was Wednesday, July 15th.

About RiverNorth Opportunistic Municipal Income Fund

RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) is a closed-end management investment company that seeks to deliver tax-exempt income through diversified exposure to U.S. municipal securities. The fund is structured as a non-diversified, interval fund and primarily caters to investors pursuing high-quality, tax-advantaged income from state and local government obligations.

RMI employs an opportunistic, value-oriented investment process, focusing on both traditional investment-grade bonds and specialized niches within the municipal market.