Short Interest in RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Drops By 14.3%

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 4,800 shares, a drop of 14.3% from the August 31st total of 5,600 shares. Based on an average daily volume of 21,800 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fairhaven Wealth Management LLC acquired a new position in RiverNorth Opportunistic Municipal Income Fund during the 1st quarter worth $290,000. Robinson Capital Management LLC lifted its holdings in RiverNorth Opportunistic Municipal Income Fund by 1.5% in the first 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. Finally, Wolverine Asset Management LLC acquired a new stake in RiverNorth Opportunistic Municipal Income Fund in the second quarter worth about $185,000.

RiverNorth Opportunistic Municipal Income Fund Price Performance

RiverNorth Opportunistic Municipal Income Fund stock opened at $16.32 on Monday. The firm has a 50-day moving average price of $16.03 and a two-hundred day moving average price of $15.92. RiverNorth Opportunistic Municipal Income Fund has a 52-week low of $13.05 and a 52-week high of $16.50.

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.