RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Sees Large Increase in Short Interest

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 7,900 shares, a growth of 3,850.0% from the December 15th total of 200 shares. Based on an average daily volume of 30,000 shares, the short-interest ratio is presently 0.3 days.

RiverNorth Opportunistic Municipal Income Fund Stock Up 0.3 %

Shares of NYSE RMI traded up $0.04 during midday trading on Monday, hitting $15.27. The company had a trading volume of 10,897 shares, compared to its average volume of 20,003. RiverNorth Opportunistic Municipal Income Fund has a twelve month low of $14.79 and a twelve month high of $16.74. The business has a 50-day simple moving average of $15.60 and a two-hundred day simple moving average of $15.90.

RiverNorth Opportunistic Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.0945 dividend. This represents a $1.13 annualized dividend and a dividend yield of 7.43%. The ex-dividend date of this dividend is Friday, March 14th.

Institutional Trading of RiverNorth Opportunistic Municipal Income Fund

An institutional investor recently raised its position in RiverNorth Opportunistic Municipal Income Fund stock. Prospera Financial Services Inc boosted its holdings in shares of RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) by 117.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,258 shares of the company’s stock after acquiring an additional 16,369 shares during the period. Prospera Financial Services Inc’s holdings in RiverNorth Opportunistic Municipal Income Fund were worth $494,000 at the end of the most recent reporting period.

About RiverNorth Opportunistic Municipal Income Fund

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.