Short Interest in RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Rises By 45.3%

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) saw a large increase in short interest in January. As of January 30th, there was short interest totaling 33,377 shares, an increase of 45.3% from the January 15th total of 22,977 shares. Based on an average daily trading volume, of 19,103 shares, the days-to-cover ratio is currently 1.7 days. Based on an average daily trading volume, of 19,103 shares, the days-to-cover ratio is currently 1.7 days.

RiverNorth Opportunistic Municipal Income Fund Trading Down 0.1%

Shares of RMI opened at $15.17 on Friday. The stock has a fifty day moving average price of $14.64 and a two-hundred day moving average price of $14.47. RiverNorth Opportunistic Municipal Income Fund has a 52-week low of $13.63 and a 52-week high of $15.83.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors 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 7.0%.

Insider Transactions at RiverNorth Opportunistic Municipal Income Fund

In other RiverNorth Opportunistic Municipal Income Fund news, insider Financial Holdings Rivernorth purchased 6,642 shares of the business’s stock in a transaction on Monday, November 17th. The stock was purchased at an average price of $14.54 per share, for a total transaction of $96,574.68. Following the completion of the purchase, the insider directly owned 69,867 shares in the company, valued at approximately $1,015,866.18. This trade represents a 10.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 21,199 shares of company stock valued at $307,219 over the last three months.

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in RiverNorth Opportunistic Municipal Income Fund by 35.6% during the fourth quarter. Bank of America Corp DE now owns 2,440 shares of the company’s stock worth $37,000 after buying an additional 640 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of RiverNorth Opportunistic Municipal Income Fund during the fourth quarter valued at about $161,000. Noble Wealth Management PBC grew its position in RiverNorth Opportunistic Municipal Income Fund by 6.8% in the 4th quarter. Noble Wealth Management PBC now owns 15,492 shares of the company’s stock valued at $222,000 after purchasing an additional 992 shares during the period. Osaic Holdings Inc. increased its position in shares of RiverNorth Opportunistic Municipal Income Fund by 17.0% during the second quarter. Osaic Holdings Inc. now owns 15,909 shares of the company’s stock worth $227,000 after acquiring an additional 2,315 shares in the last quarter. Finally, Arlington Capital Management Inc. bought a new stake in RiverNorth Opportunistic Municipal Income Fund during the third quarter worth $253,000.

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.