RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Short Interest Up 241.5% in February

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the recipient of a large increase in short interest in February. As of February 27th, there was short interest totaling 111,928 shares, an increase of 241.5% from the February 12th total of 32,779 shares. Based on an average daily volume of 97,174 shares, the short-interest ratio is presently 1.2 days. Based on an average daily volume of 97,174 shares, the short-interest ratio is presently 1.2 days.

Insider Activity at RiverNorth Opportunistic Municipal Income Fund

In other RiverNorth Opportunistic Municipal Income Fund news, insider Financial Holdings Rivernorth bought 5,058 shares of the stock in a transaction dated Thursday, December 18th. The shares were bought at an average cost of $14.46 per share, with a total value of $73,138.68. Following the completion of the acquisition, the insider owned 80,513 shares of the company’s stock, valued at $1,164,217.98. This trade represents a 6.70% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

Several large investors have recently bought and sold shares of RMI. Plancorp LLC bought a new position in RiverNorth Opportunistic Municipal Income Fund in the third quarter valued at about $308,000. Noble Wealth Management PBC lifted its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 6.8% in the fourth quarter. Noble Wealth Management PBC now owns 15,492 shares of the company’s stock worth $222,000 after acquiring an additional 992 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of RiverNorth Opportunistic Municipal Income Fund by 35.6% in the 4th quarter. Bank of America Corp DE now owns 2,440 shares of the company’s stock valued at $37,000 after purchasing an additional 640 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the 4th quarter valued at approximately $161,000. Finally, Osaic Holdings Inc. grew its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 20.5% during the 4th quarter. Osaic Holdings Inc. now owns 34,764 shares of the company’s stock valued at $497,000 after purchasing an additional 5,917 shares during the last quarter.

RiverNorth Opportunistic Municipal Income Fund Stock Up 2.2%

RMI traded up $0.34 during trading on Thursday, hitting $16.00. 73,011 shares of the stock traded hands, compared to its average volume of 37,992. The business has a 50 day moving average price of $15.08 and a 200 day moving average price of $14.68. RiverNorth Opportunistic Municipal Income Fund has a twelve month low of $13.63 and a twelve month high of $16.36.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a dividend of $0.0889 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%.

About RiverNorth Opportunistic Municipal Income Fund

RiverNorth Opportunistic Municipal Income Fund (NYSE:RMI) is a closed-end management investment company that seeks to deliver tax-exempt income through diversified exposure to U.S. municipal securities. The fund is structured as a non-diversified, interval fund and primarily caters to investors pursuing high-quality, tax-advantaged income from state and local government obligations.

RMI employs an opportunistic, value-oriented investment process, focusing on both traditional investment-grade bonds and specialized niches within the municipal market.