Short Interest in RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Grows By 241.5%

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) saw a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 111,928 shares, a growth of 241.5% from the February 12th total of 32,779 shares. Based on an average trading volume of 97,174 shares, the days-to-cover ratio is currently 1.2 days. Based on an average trading volume of 97,174 shares, the days-to-cover ratio is currently 1.2 days.

RiverNorth Opportunistic Municipal Income Fund Price Performance

RMI traded down $0.13 during midday trading on Wednesday, hitting $15.66. 25,992 shares of the company were exchanged, compared to its average volume of 37,249. The company’s 50 day simple moving average is $15.02 and its 200 day simple moving average is $14.66. RiverNorth Opportunistic Municipal Income Fund has a 1-year low of $13.63 and a 1-year high of $16.36.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $0.0889 dividend. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Monday, March 16th.

Insiders Place Their Bets

In other RiverNorth Opportunistic Municipal Income Fund news, insider Financial Holdings Rivernorth purchased 3,941 shares of RiverNorth Opportunistic Municipal Income Fund 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 acquisition, the insider owned 84,454 shares in the company, valued at $1,222,049.38. This trade represents a 4.89% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

Several institutional investors have recently modified their holdings of RMI. Bank of America Corp DE boosted its stake in RiverNorth Opportunistic Municipal Income Fund by 35.6% during the fourth quarter. Bank of America Corp DE now owns 2,440 shares of the company’s stock worth $37,000 after buying an additional 640 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the 4th quarter worth $161,000. Noble Wealth Management PBC raised its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 6.8% during the 4th quarter. Noble Wealth Management PBC now owns 15,492 shares of the company’s stock worth $222,000 after acquiring an additional 992 shares during the period. Osaic Holdings Inc. boosted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 17.0% during the 2nd quarter. Osaic Holdings Inc. now owns 15,909 shares of the company’s stock valued at $227,000 after acquiring 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 3rd quarter valued at about $253,000.

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.