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

Posted by Steve Reilly on Aug 29th, 2024

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Get Free Report) saw a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 2,700 shares, a decrease of 38.6% from the July 31st total of 4,400 shares. Based on an average daily trading volume, of 19,100 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in the business. Robinson Capital Management LLC bought a new position in RiverNorth Opportunistic Municipal Income Fund during the fourth quarter worth $687,000. Fairhaven Wealth Management LLC bought a new position in RiverNorth Opportunistic Municipal Income Fund during the first quarter worth $290,000. Finally, Wolverine Asset Management LLC bought a new position in RiverNorth Opportunistic Municipal Income Fund during the second quarter worth $185,000.

RiverNorth Opportunistic Municipal Income Fund Stock Performance

Shares of RiverNorth Opportunistic Municipal Income Fund stock traded down $0.03 on Wednesday, hitting $15.81. 16,884 shares of the company’s stock traded hands, compared to its average volume of 16,769. The firm’s 50-day moving average is $15.96 and its 200 day moving average is $15.94. RiverNorth Opportunistic Municipal Income Fund has a 52-week low of $13.05 and a 52-week high of $16.80.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.0965 per share. This represents a $1.16 annualized dividend and a dividend yield of 7.32%. The ex-dividend date is Friday, September 13th.

About RiverNorth Opportunistic Municipal Income Fund

(Get Free Report)

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.