RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Sees Large Increase in Short Interest

Posted by John. R. Edwardson on Jan 13th, 2025

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

Institutional Investors Weigh In On RiverNorth Opportunistic Municipal Income Fund

A hedge fund recently raised its stake in RiverNorth Opportunistic Municipal Income Fund stock. Wolverine Asset Management LLC boosted its stake in RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Free Report) by 223.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,625 shares of the company’s stock after purchasing an additional 26,010 shares during the quarter. Wolverine Asset Management LLC’s holdings in RiverNorth Opportunistic Municipal Income Fund were worth $614,000 as of its most recent filing with the SEC.

RiverNorth Opportunistic Municipal Income Fund Stock Performance

RMI traded up $0.04 during midday trading on Monday, reaching $15.27. 10,897 shares of the company’s stock were exchanged, compared to its average volume of 20,003. RiverNorth Opportunistic Municipal Income Fund has a 1-year low of $14.79 and a 1-year high of $16.74. The business’s 50-day moving average price is $15.60 and its 200 day moving average price is $15.90.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.0945 per share. The ex-dividend date is Friday, March 14th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.43%.

RiverNorth Opportunistic Municipal Income Fund Company Profile

(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.