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 large increase in short interest in the month of January. As of January 15th, there was short interest totalling 7,900 shares, an increase 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 presently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RMI. Wolverine Asset Management LLC boosted its position in shares of RiverNorth Opportunistic Municipal Income Fund by 223.9% during 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 in the last quarter. Prospera Financial Services Inc boosted its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 117.9% during the 3rd quarter. Prospera Financial Services Inc now owns 30,258 shares of the company’s stock valued at $494,000 after buying an additional 16,369 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of RiverNorth Opportunistic Municipal Income Fund by 1.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 483,316 shares of the company’s stock worth $7,279,000 after buying an additional 8,865 shares during the period. Finally, Apollon Wealth Management LLC bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the 4th quarter worth about $161,000.

RiverNorth Opportunistic Municipal Income Fund Trading Up 0.0 %

Shares of NYSE RMI opened at $15.49 on Wednesday. RiverNorth Opportunistic Municipal Income Fund has a 1 year low of $14.79 and a 1 year high of $16.74. The company’s 50-day moving average is $15.50 and its 200 day moving average is $15.86.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The company 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 is Friday, March 14th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.32%.

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.