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

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

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.