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

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the target of a large drop in short interest in 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 trading volume of 21,800 shares, the days-to-cover ratio is presently 0.2 days.

RiverNorth Opportunistic Municipal Income Fund Trading Up 0.1 %

NYSE:RMI opened at $16.32 on Monday. The stock has a fifty day simple moving average of $16.03 and a 200 day simple moving average of $15.92. RiverNorth Opportunistic Municipal Income Fund has a 1-year low of $13.05 and a 1-year high of $16.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RMI. Wolverine Asset Management LLC acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the second quarter worth $185,000. Fairhaven Wealth Management LLC purchased a new stake in RiverNorth Opportunistic Municipal Income Fund in the 1st quarter worth about $290,000. Finally, Robinson Capital Management LLC boosted its position in RiverNorth Opportunistic Municipal Income Fund by 1.5% during the 1st quarter. Robinson Capital Management LLC now owns 45,757 shares of the company’s stock worth $707,000 after acquiring an additional 676 shares during the period.

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.