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

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the target of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 111,928 shares, an increase of 241.5% from the February 12th total of 32,779 shares. Based on an average daily trading volume, of 97,174 shares, the short-interest ratio is presently 1.2 days. Based on an average daily trading volume, of 97,174 shares, the short-interest ratio is presently 1.2 days.

RiverNorth Opportunistic Municipal Income Fund Trading Down 0.1%

Shares of RiverNorth Opportunistic Municipal Income Fund stock traded down $0.02 during mid-day trading on Friday, reaching $15.98. 12,855 shares of the stock were exchanged, compared to its average volume of 37,449. RiverNorth Opportunistic Municipal Income Fund has a fifty-two week low of $13.63 and a fifty-two week high of $16.36. The firm has a 50-day simple moving average of $15.08 and a 200 day simple moving average of $14.68.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $0.0889 dividend. This represents a c) annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Monday, March 16th.

Insider Transactions at RiverNorth Opportunistic Municipal Income Fund

In related news, insider Financial Holdings Rivernorth acquired 5,058 shares of the stock in a transaction dated Thursday, December 18th. The shares were acquired at an average price of $14.46 per share, for a total transaction of $73,138.68. Following the completion of the purchase, the insider owned 80,513 shares in the company, valued at approximately $1,164,217.98. The trade was a 6.70% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

Several institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in RiverNorth Opportunistic Municipal Income Fund by 35.6% in the fourth quarter. Bank of America Corp DE now owns 2,440 shares of the company’s stock worth $37,000 after purchasing an additional 640 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the 4th quarter valued at $161,000. Noble Wealth Management PBC increased its position in shares of RiverNorth Opportunistic Municipal Income Fund by 6.8% in the 4th quarter. Noble Wealth Management PBC now owns 15,492 shares of the company’s stock valued at $222,000 after buying an additional 992 shares in the last quarter. Osaic Holdings Inc. raised its stake in RiverNorth Opportunistic Municipal Income Fund by 17.0% during the 2nd quarter. Osaic Holdings Inc. now owns 15,909 shares of the company’s stock worth $227,000 after buying an additional 2,315 shares during the period. Finally, Arlington Capital Management Inc. bought a new position in RiverNorth Opportunistic Municipal Income Fund during the third quarter worth about $253,000.

RiverNorth Opportunistic Municipal Income Fund Company Profile

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.