Short Interest in RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Drops By 41.6%

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 14,931 shares, a decrease of 41.6% from the July 15th total of 25,559 shares. Based on an average trading volume of 30,273 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

Several large investors have recently bought and sold shares of RMI. Rockefeller Capital Management L.P. raised its position in shares of RiverNorth Opportunistic Municipal Income Fund by 252.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 72,050 shares of the company’s stock worth $1,031,000 after purchasing an additional 51,625 shares during the period. Gateway Wealth Partners LLC increased its stake in RiverNorth Opportunistic Municipal Income Fund by 152.4% during the 1st quarter. Gateway Wealth Partners LLC now owns 106,236 shares of the company’s stock valued at $1,600,000 after buying an additional 64,151 shares during the period. Osaic Holdings Inc. increased its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 20.5% during the fourth quarter. Osaic Holdings Inc. now owns 34,764 shares of the company’s stock valued at $497,000 after acquiring an additional 5,917 shares during the period. Royal Bank of Canada raised its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 1.2% in the 4th quarter. Royal Bank of Canada now owns 96,874 shares of the company’s stock worth $1,386,000 after buying an additional 1,141 shares in the last quarter. Finally, Bank of America Corp DE raised its position in RiverNorth Opportunistic Municipal Income Fund by 176.7% in the third quarter. Bank of America Corp DE now owns 45,533 shares of the company’s stock worth $666,000 after acquiring an additional 29,076 shares in the last quarter.

RiverNorth Opportunistic Municipal Income Fund Stock Down 0.3%

Shares of NYSE RMI traded down $0.05 during trading on Wednesday, hitting $15.43. 1,851 shares of the company traded hands, compared to its average volume of 23,231. RiverNorth Opportunistic Municipal Income Fund has a 1 year low of $13.76 and a 1 year high of $16.36. The company has a 50-day moving average price of $15.50 and a 200-day moving average price of $15.38.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were paid a dividend of $0.0889 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date 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.