RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Sees Significant Growth in Short Interest

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 20,000 shares, a growth of 72.4% from the August 31st total of 11,600 shares. Based on an average daily volume of 43,300 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily volume of 43,300 shares, the days-to-cover ratio is currently 0.5 days.

RiverNorth Opportunistic Municipal Income Fund Stock Performance

Shares of RMI opened at $14.56 on Wednesday. RiverNorth Opportunistic Municipal Income Fund has a 12 month low of $13.63 and a 12 month high of $16.74. The firm has a fifty day simple moving average of $14.21 and a 200 day simple moving average of $14.30.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.0945 dividend. The ex-dividend date is Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 7.8%.

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

A number of large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake 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. Osaic Holdings Inc. lifted its stake in RiverNorth Opportunistic Municipal Income Fund by 17.0% in the second 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. Concurrent Investment Advisors LLC lifted its stake in RiverNorth Opportunistic Municipal Income Fund by 12.5% in the second quarter. Concurrent Investment Advisors LLC now owns 26,595 shares of the company’s stock valued at $379,000 after acquiring an additional 2,950 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in RiverNorth Opportunistic Municipal Income Fund by 129.6% in the first quarter. Apollon Wealth Management LLC now owns 24,535 shares of the company’s stock valued at $366,000 after acquiring an additional 13,850 shares during the last quarter. Finally, Advisor Resource Council acquired a new stake in RiverNorth Opportunistic Municipal Income Fund in the first quarter valued at $235,000.

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.