RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Short Interest Down 34.8% in February

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the target of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 14,600 shares, a decrease of 34.8% from the January 31st total of 22,400 shares. Based on an average daily volume of 27,500 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nomura Holdings Inc. bought a new stake in RiverNorth Opportunistic Municipal Income Fund in the fourth quarter worth about $167,000. Logan Stone Capital LLC lifted its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 187.5% during the 4th quarter. Logan Stone Capital LLC now owns 112,766 shares of the company’s stock worth $1,698,000 after acquiring an additional 73,541 shares during the last quarter. Bank of America Corp DE boosted its holdings in RiverNorth Opportunistic Municipal Income Fund by 35.6% during the 4th quarter. Bank of America Corp DE now owns 2,440 shares of the company’s stock valued at $37,000 after acquiring an additional 640 shares during the period. Raymond James Financial Inc. bought a new position in RiverNorth Opportunistic Municipal Income Fund in the 4th quarter valued at $337,000. Finally, Wells Fargo & Company MN increased its stake in RiverNorth Opportunistic Municipal Income Fund by 8.1% in the fourth quarter. Wells Fargo & Company MN now owns 138,287 shares of the company’s stock worth $2,083,000 after purchasing an additional 10,381 shares during the period.

RiverNorth Opportunistic Municipal Income Fund Stock Up 0.4 %

NYSE:RMI opened at $15.77 on Friday. The business has a 50 day simple moving average of $15.47 and a 200-day simple moving average of $15.82. 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 business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.0945 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.13 dividend on an annualized basis and a yield of 7.19%.

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.