RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Short Interest Up 352.4% in April

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Get Rating) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 9,500 shares, an increase of 352.4% from the March 31st total of 2,100 shares. Based on an average trading volume of 20,000 shares, the days-to-cover ratio is presently 0.5 days.

NYSE:RMI opened at $16.91 on Thursday. The stock has a fifty day moving average price of $18.81 and a 200 day moving average price of $20.80. RiverNorth Opportunistic Municipal Income Fund has a 12-month low of $16.83 and a 12-month high of $24.24.

The business also recently announced a monthly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 16th will be paid a $0.104 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 7.38%. The ex-dividend date is Wednesday, June 15th.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Moors & Cabot Inc. bought a new position in RiverNorth Opportunistic Municipal Income Fund in the third quarter worth about $51,000. XML Financial LLC acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund during the 4th quarter valued at $201,000. Twelve Points Wealth Management LLC bought a new position in shares of RiverNorth Opportunistic Municipal Income Fund during the 4th quarter valued at $228,000. Cypress Wealth Services LLC raised its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 8.3% during the 4th quarter. Cypress Wealth Services LLC now owns 32,500 shares of the company’s stock valued at $725,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Stratos Wealth Partners LTD. bought a new position in RiverNorth Opportunistic Municipal Income Fund in the 1st quarter worth $1,037,000.

RiverNorth Opportunistic Municipal Income Fund Company Profile (Get Rating)

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.

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