RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Short Interest Update

by · The Cerbat Gem

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Get Free Report) 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 presently 0.5 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RMI. Rockefeller Capital Management L.P. increased its position in RiverNorth Opportunistic Municipal Income Fund by 252.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 72,050 shares of the company’s stock valued at $1,031,000 after acquiring an additional 51,625 shares during the period. Gateway Wealth Partners LLC lifted its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 152.4% during the first quarter. Gateway Wealth Partners LLC now owns 106,236 shares of the company’s stock worth $1,600,000 after purchasing an additional 64,151 shares during the period. Bank of America Corp DE grew its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 574.5% in the second quarter. Bank of America Corp DE now owns 16,457 shares of the company’s stock worth $235,000 after purchasing an additional 14,017 shares during the last quarter. Arlington Capital Management Inc. bought a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the third quarter worth $253,000. Finally, Janney Montgomery Scott LLC acquired a new stake in RiverNorth Opportunistic Municipal Income Fund in the fourth quarter valued at $161,000.

RiverNorth Opportunistic Municipal Income Fund Stock Performance

RiverNorth Opportunistic Municipal Income Fund stock traded down $0.24 during mid-day trading on Tuesday, reaching $15.49. The company had a trading volume of 6,219 shares, compared to its average volume of 23,368. The business has a fifty day simple moving average of $15.50 and a 200 day simple moving average of $15.38. RiverNorth Opportunistic Municipal Income Fund has a fifty-two week low of $13.76 and a fifty-two week high of $16.36.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were paid a dividend of $0.0889 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend was Wednesday, July 15th.

About RiverNorth Opportunistic Municipal Income Fund

(Get Free Report)

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.

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