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 growth in short interest in the month of January. As of January 30th, there was short interest totaling 33,377 shares, a growth of 45.3% from the January 15th total of 22,977 shares. Based on an average daily trading volume, of 19,103 shares, the short-interest ratio is currently 1.7 days. Based on an average daily trading volume, of 19,103 shares, the short-interest ratio is currently 1.7 days.

Insider Buying and Selling at RiverNorth Opportunistic Municipal Income Fund

In other news, insider Financial Holdings Rivernorth purchased 3,941 shares of the stock in a transaction dated Monday, December 22nd. The stock was acquired at an average price of $14.47 per share, for a total transaction of $57,026.27. Following the completion of the transaction, the insider owned 84,454 shares of the company’s stock, valued at approximately $1,222,049.38. The trade was a 4.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 14,557 shares of company stock worth $210,645.

Institutional Investors Weigh In On RiverNorth Opportunistic Municipal Income Fund

Large investors have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 35.6% during the 4th 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 last quarter. Janney Montgomery Scott LLC acquired a new position in RiverNorth Opportunistic Municipal Income Fund in the 4th quarter valued at $161,000. Noble Wealth Management PBC increased its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 6.8% in the fourth quarter. Noble Wealth Management PBC now owns 15,492 shares of the company’s stock worth $222,000 after purchasing an additional 992 shares during the period. Osaic Holdings Inc. grew its holdings in RiverNorth Opportunistic Municipal Income Fund by 17.0% in the 2nd quarter. Osaic Holdings Inc. now owns 15,909 shares of the company’s stock valued at $227,000 after buying an additional 2,315 shares during the last quarter. Finally, Arlington Capital Management Inc. acquired a new position in shares of RiverNorth Opportunistic Municipal Income Fund during the third quarter worth approximately $253,000.

RiverNorth Opportunistic Municipal Income Fund Price Performance

NYSE RMI traded down $0.01 on Monday, reaching $15.17. The company’s stock had a trading volume of 11,528 shares, compared to its average volume of 20,711. RiverNorth Opportunistic Municipal Income Fund has a twelve month low of $13.63 and a twelve month high of $15.83. The firm’s 50 day moving average is $14.64 and its two-hundred day moving average is $14.47.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a dividend of $0.0889 per share. The ex-dividend date is Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 7.0%.

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.