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

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totaling 14,931 shares, a decline of 41.6% from the July 15th total of 25,559 shares. Based on an average daily trading volume, of 30,273 shares, the short-interest ratio is currently 0.5 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RMI. Gateway Wealth Partners LLC raised its position in RiverNorth Opportunistic Municipal Income Fund by 152.4% during the 1st quarter. Gateway Wealth Partners LLC now owns 106,236 shares of the company’s stock worth $1,600,000 after buying an additional 64,151 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of RiverNorth Opportunistic Municipal Income Fund by 252.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 72,050 shares of the company’s stock valued at $1,031,000 after buying an additional 51,625 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in RiverNorth Opportunistic Municipal Income Fund in the 3rd quarter worth $494,000. Bank of America Corp DE increased its stake in RiverNorth Opportunistic Municipal Income Fund by 176.7% during the 3rd quarter. Bank of America Corp DE now owns 45,533 shares of the company’s stock worth $666,000 after buying an additional 29,076 shares in the last quarter. Finally, Arlington Capital Management Inc. acquired a new position in RiverNorth Opportunistic Municipal Income Fund in the 3rd quarter valued at $253,000.

RiverNorth Opportunistic Municipal Income Fund Price Performance

RiverNorth Opportunistic Municipal Income Fund stock opened at $15.68 on Monday. RiverNorth Opportunistic Municipal Income Fund has a 12-month low of $13.76 and a 12-month high of $16.36. The firm has a 50 day moving average of $15.48 and a 200 day moving average of $15.36.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were given a dividend of $0.0889 per share. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date was Wednesday, July 15th.

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.