Short Interest in RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Decreases By 13.6%

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) saw a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 12,100 shares, a drop of 13.6% from the February 28th total of 14,000 shares. Based on an average daily volume of 22,200 shares, the short-interest ratio is presently 0.5 days.

RiverNorth Opportunistic Municipal Income Fund Stock Performance

RiverNorth Opportunistic Municipal Income Fund stock traded down $0.01 during mid-day trading on Thursday, hitting $14.98. The company’s stock had a trading volume of 22,909 shares, compared to its average volume of 20,140. The business has a 50 day moving average price of $15.49 and a 200-day moving average price of $15.70. RiverNorth Opportunistic Municipal Income Fund has a 12 month low of $14.79 and a 12 month high of $16.74.

RiverNorth Opportunistic Municipal Income Fund Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.0945 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.57%. The ex-dividend date was Friday, March 14th.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Atala Financial Inc bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund during the fourth quarter valued at about $28,000. Bank of America Corp DE raised its position in 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 valued at $37,000 after purchasing an additional 640 shares during the last quarter. Noble Wealth Management PBC bought a new position in RiverNorth Opportunistic Municipal Income Fund during the 4th quarter valued at approximately $107,000. Apollon Wealth Management LLC purchased a new stake in RiverNorth Opportunistic Municipal Income Fund in the 4th quarter worth approximately $161,000. Finally, Nomura Holdings Inc. bought a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the 4th quarter worth approximately $167,000.

RiverNorth Opportunistic Municipal Income Fund Company Profile

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.