RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Shares Shorted: Short Interest Down 75.9% in October

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the recipient of a large decrease in short interest in October. As of October 30th, there was short interest totaling 7,381 shares, a decrease of 75.9% from the October 15th total of 30,634 shares. Based on an average daily trading volume, of 18,535 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in RiverNorth Opportunistic Municipal Income Fund stock. Gateway Wealth Partners LLC lifted its stake in shares of RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) by 152.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,236 shares of the company’s stock after acquiring an additional 64,151 shares during the quarter. Gateway Wealth Partners LLC’s holdings in RiverNorth Opportunistic Municipal Income Fund were worth $1,600,000 at the end of the most recent reporting period.

RiverNorth Opportunistic Municipal Income Fund Price Performance

RiverNorth Opportunistic Municipal Income Fund stock opened at $13.72 on Thursday. The company’s 50-day moving average price is $14.04 and its two-hundred day moving average price is $15.03. RiverNorth Opportunistic Municipal Income Fund has a 52 week low of $13.11 and a 52 week high of $16.36.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be issued a $0.0889 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $1.07 annualized dividend and a dividend yield of 7.8%.

RiverNorth Opportunistic Municipal Income Fund Company Profile

RiverNorth Opportunistic Municipal Income Fund (NYSE: RMI) is a closed-end investment fund that seeks to provide current income exempt from regular federal income tax, while also pursuing total return. The fund invests primarily in municipal securities issued by states, cities, counties and other governmental or public entities in the United States. RMI uses an opportunistic approach to the municipal bond market, allocating among different types of securities, maturities, credit qualities and market segments as conditions change.