RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Short Interest Down 71.6% in April

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RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMIGet Rating) was the recipient of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totalling 2,700 shares, a decrease of 71.6% from the April 15th total of 9,500 shares. Based on an average trading volume of 21,200 shares, the days-to-cover ratio is presently 0.1 days.

A number of institutional investors and hedge funds have recently bought and sold shares of RMI. Quadrant Capital Group LLC purchased a new position in RiverNorth Opportunistic Municipal Income Fund in the 1st quarter worth approximately $900,000. Stratos Wealth Partners LTD. purchased a new position in RiverNorth Opportunistic Municipal Income Fund in the 1st quarter worth approximately $1,037,000. Moors & Cabot Inc. purchased a new stake in shares of RiverNorth Opportunistic Municipal Income Fund during the 3rd quarter valued at approximately $51,000. Fortress Wealth Management Inc. purchased a new stake in shares of RiverNorth Opportunistic Municipal Income Fund during the 4th quarter valued at approximately $1,070,000. Finally, Advisors Asset Management Inc. raised its position in shares of RiverNorth Opportunistic Municipal Income Fund by 65.5% during the 4th quarter. Advisors Asset Management Inc. now owns 86,490 shares of the company’s stock valued at $1,929,000 after buying an additional 34,235 shares during the period.

RMI stock traded down $0.02 during midday trading on Thursday, hitting $16.15. 206 shares of the stock traded hands, compared to its average volume of 22,618. The stock’s fifty day simple moving average is $18.20 and its 200-day simple moving average is $20.36. RiverNorth Opportunistic Municipal Income Fund has a 1-year low of $15.97 and a 1-year high of $24.24.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be issued a dividend of $0.104 per share. This represents a $1.25 annualized dividend and a yield of 7.73%. The ex-dividend date is Wednesday, June 15th.

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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