RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Short Interest Up 197.2% in August

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the recipient of a significant growth in short interest in August. As of August 14th, there was short interest totaling 44,376 shares, a growth of 197.2% from the July 30th total of 14,931 shares. Based on an average daily volume of 18,634 shares, the short-interest ratio is presently 2.4 days.

RiverNorth Opportunistic Municipal Income Fund Price Performance

RMI traded up $0.04 during trading hours on Thursday, hitting $15.16. 13,303 shares of the company’s stock were exchanged, compared to its average volume of 22,829. RiverNorth Opportunistic Municipal Income Fund has a 12-month low of $13.78 and a 12-month high of $16.36. The firm has a 50 day moving average of $15.49 and a 200 day moving average of $15.39.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were paid a $0.0889 dividend. The ex-dividend date was Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 7.0%.

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings 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 purchasing an additional 640 shares during the period. Osaic Holdings Inc. increased its holdings in 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 worth $227,000 after purchasing an additional 2,315 shares during the period. Envestnet Asset Management Inc. acquired a new stake in RiverNorth Opportunistic Municipal Income Fund in the 3rd quarter valued at about $494,000. UBS Group AG raised its position in RiverNorth Opportunistic Municipal Income Fund by 2.8% in the 3rd quarter. UBS Group AG now owns 161,653 shares of the company’s stock valued at $2,363,000 after purchasing an additional 4,472 shares in the last quarter. Finally, Arlington Capital Management Inc. purchased a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the 3rd quarter valued at about $253,000.

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.