RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Sees Significant Decrease in Short Interest

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totalling 4,800 shares, a decline of 14.3% from the August 31st total of 5,600 shares. Based on an average daily volume of 21,800 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

Institutional investors have recently modified their holdings of the business. Wolverine Asset Management LLC bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the second quarter valued at approximately $185,000. Fairhaven Wealth Management LLC bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the first quarter valued at approximately $290,000. Finally, Robinson Capital Management LLC grew its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 1.5% in the first quarter. Robinson Capital Management LLC now owns 45,757 shares of the company’s stock valued at $707,000 after acquiring an additional 676 shares in the last quarter.

RiverNorth Opportunistic Municipal Income Fund Price Performance

Shares of RMI opened at $16.32 on Friday. The stock has a 50 day moving average price of $16.03 and a two-hundred day moving average price of $15.92. RiverNorth Opportunistic Municipal Income Fund has a 52 week low of $13.05 and a 52 week high of $16.50.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.0965 per share. This represents a $1.16 dividend on an annualized basis and a yield of 7.10%. The ex-dividend date is Friday, September 13th.

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.