RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Short Interest Up 3,850.0% in January

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 7,900 shares, a growth of 3,850.0% from the December 31st total of 200 shares. Based on an average daily volume of 30,000 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMI. Stratos Wealth Partners LTD. raised its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 1.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 483,316 shares of the company’s stock worth $7,279,000 after acquiring an additional 8,865 shares in the last quarter. Wolverine Asset Management LLC grew its holdings in RiverNorth Opportunistic Municipal Income Fund by 223.9% in the third quarter. Wolverine Asset Management LLC now owns 37,625 shares of the company’s stock valued at $614,000 after purchasing an additional 26,010 shares during the period. Prospera Financial Services Inc raised its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 117.9% during the third quarter. Prospera Financial Services Inc now owns 30,258 shares of the company’s stock valued at $494,000 after acquiring an additional 16,369 shares during the last quarter. Finally, Apollon Wealth Management LLC purchased a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the fourth quarter worth about $161,000.

RiverNorth Opportunistic Municipal Income Fund Trading Up 0.0 %

Shares of RMI opened at $15.49 on Wednesday. RiverNorth Opportunistic Municipal Income Fund has a 12 month low of $14.79 and a 12 month high of $16.74. The business’s fifty day simple moving average is $15.50 and its two-hundred day simple moving average is $15.86.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.0945 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.32%. The ex-dividend date is Friday, March 14th.

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.