RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Short Interest Up 51.7% in July

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 4,400 shares, an increase of 51.7% from the July 15th total of 2,900 shares. Based on an average daily volume of 16,500 shares, the days-to-cover ratio is presently 0.3 days.

RiverNorth Opportunistic Municipal Income Fund Price Performance

Shares of RiverNorth Opportunistic Municipal Income Fund stock opened at $16.12 on Wednesday. The firm has a 50-day moving average of $15.95 and a 200-day moving average of $15.92. RiverNorth Opportunistic Municipal Income Fund has a 52-week low of $13.05 and a 52-week high of $16.80.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.0965 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.18%.

Institutional Investors Weigh In On RiverNorth Opportunistic Municipal Income Fund

A number of institutional investors have recently modified their holdings of RMI. Wolverine Asset Management LLC bought a new stake in RiverNorth Opportunistic Municipal Income Fund during the second quarter worth about $185,000. Fairhaven Wealth Management LLC bought a new stake in RiverNorth Opportunistic Municipal Income Fund during the first quarter worth about $290,000. Finally, Robinson Capital Management LLC bought a new stake in RiverNorth Opportunistic Municipal Income Fund during the fourth quarter worth about $687,000.

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.