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

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC acquired a new position in RiverNorth Opportunistic Municipal Income Fund during the first quarter worth about $900,000. UBS Group AG raised its position in RiverNorth Opportunistic Municipal Income Fund by 14.9% during the third quarter. UBS Group AG now owns 140,431 shares of the company’s stock worth $3,247,000 after acquiring an additional 18,171 shares during the last quarter. Morgan Stanley raised its position in RiverNorth Opportunistic Municipal Income Fund by 7.6% during the third quarter. Morgan Stanley now owns 138,920 shares of the company’s stock worth $3,212,000 after acquiring an additional 9,765 shares during the last quarter. Wells Fargo & Company MN raised its position in RiverNorth Opportunistic Municipal Income Fund by 4.4% during the fourth quarter. Wells Fargo & Company MN now owns 116,962 shares of the company’s stock worth $2,609,000 after acquiring an additional 4,941 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in RiverNorth Opportunistic Municipal Income Fund by 65.5% during the fourth quarter. Advisors Asset Management Inc. now owns 86,490 shares of the company’s stock worth $1,929,000 after acquiring an additional 34,235 shares during the last quarter.

Shares of NYSE RMI traded up $0.21 during midday trading on Friday, hitting $16.06. The company had a trading volume of 55,266 shares, compared to its average volume of 23,346. RiverNorth Opportunistic Municipal Income Fund has a twelve month low of $15.74 and a twelve month high of $24.24. The business has a 50-day simple moving average of $18.05 and a two-hundred day simple moving average of $20.28.

The business also recently disclosed 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 annualized dividend and a dividend yield of 7.77%. The ex-dividend date of this dividend 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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