RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Short Interest Down 43.8% in September

Posted by Lisa Pomrenke on Oct 11th, 2024

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Get Free Report) saw a large drop in short interest in September. As of September 30th, there was short interest totalling 2,700 shares, a drop of 43.8% from the September 15th total of 4,800 shares. Based on an average daily volume of 20,800 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Wolverine Asset Management LLC acquired a new position in RiverNorth Opportunistic Municipal Income Fund in the 2nd quarter worth approximately $185,000. Fairhaven Wealth Management LLC purchased a new stake in RiverNorth Opportunistic Municipal Income Fund in the first quarter valued at $290,000. Finally, Robinson Capital Management LLC grew its position in RiverNorth Opportunistic Municipal Income Fund by 1.5% during the 1st quarter. Robinson Capital Management LLC now owns 45,757 shares of the company’s stock worth $707,000 after purchasing an additional 676 shares during the period.

RiverNorth Opportunistic Municipal Income Fund Price Performance

Shares of RMI remained flat at $16.33 during trading hours on Friday. 1,921 shares of the stock were exchanged, compared to its average volume of 16,947. The stock has a 50-day simple moving average of $16.10 and a two-hundred day simple moving average of $15.93. RiverNorth Opportunistic Municipal Income Fund has a 12-month low of $13.05 and a 12-month high of $16.51.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.0965 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.16 annualized dividend and a yield of 7.09%.

About RiverNorth Opportunistic Municipal Income Fund

(Get Free Report)

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.