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 decrease in short interest during the month of July. As of July 31st, there was short interest totaling 14,931 shares, a decrease of 41.6% from the July 15th total of 25,559 shares. Based on an average daily volume of 30,273 shares, the short-interest ratio is currently 0.5 days.

RiverNorth Opportunistic Municipal Income Fund Stock Down 0.2%

Shares of RMI opened at $15.68 on Monday. RiverNorth Opportunistic Municipal Income Fund has a fifty-two week low of $13.76 and a fifty-two week high of $16.36. The firm’s 50 day moving average price is $15.48 and its 200 day moving average price is $15.36.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were issued a dividend of $0.0889 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 6.8%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in RiverNorth Opportunistic Municipal Income Fund by 35.6% in the fourth quarter. Bank of America Corp DE now owns 2,440 shares of the company’s stock valued at $37,000 after acquiring an additional 640 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of RiverNorth Opportunistic Municipal Income Fund during the fourth quarter worth about $161,000. Osaic Holdings Inc. increased its position in shares of RiverNorth Opportunistic Municipal Income Fund by 17.0% during the second quarter. Osaic Holdings Inc. now owns 15,909 shares of the company’s stock worth $227,000 after purchasing an additional 2,315 shares in the last quarter. Arlington Capital Management Inc. acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund during the third quarter worth about $253,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the 3rd quarter valued at about $494,000.

About RiverNorth Opportunistic Municipal Income Fund

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.