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

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 7,900 shares, a growth 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 Inflows and Outflows

An institutional investor recently raised its position in RiverNorth Opportunistic Municipal Income Fund stock. Wolverine Asset Management LLC lifted its stake in shares of RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) by 223.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,625 shares of the company’s stock after acquiring an additional 26,010 shares during the quarter. Wolverine Asset Management LLC’s holdings in RiverNorth Opportunistic Municipal Income Fund were worth $614,000 at the end of the most recent reporting period.

RiverNorth Opportunistic Municipal Income Fund Price Performance

Shares of NYSE RMI traded up $0.03 during midday trading on Tuesday, hitting $15.26. 17,392 shares of the company’s stock traded hands, compared to its average volume of 21,156. The firm has a fifty day moving average of $15.59 and a 200 day moving average of $15.90. RiverNorth Opportunistic Municipal Income Fund has a 1 year low of $14.79 and a 1 year high of $16.74.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

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

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.