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

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) saw a large increase in short interest during the month of 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 presently 1.7 days. Based on an average daily trading volume, of 19,103 shares, the days-to-cover ratio is presently 1.7 days.

RiverNorth Opportunistic Municipal Income Fund Stock Performance

Shares of NYSE:RMI opened at $15.17 on Tuesday. RiverNorth Opportunistic Municipal Income Fund has a 12-month low of $13.63 and a 12-month high of $15.83. The business has a 50 day moving average of $14.65 and a 200-day moving average of $14.48.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $0.0889 dividend. This represents a c) dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Monday, March 16th.

Insider Activity

In related news, insider Financial Holdings Rivernorth purchased 3,941 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average price of $14.47 per share, for a total transaction of $57,026.27. Following the purchase, the insider owned 84,454 shares in the company, valued at approximately $1,222,049.38. This represents a 4.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have bought 14,557 shares of company stock worth $210,645.

Institutional Investors Weigh In On RiverNorth Opportunistic Municipal Income Fund

A number of institutional investors have recently modified their holdings of RMI. Janney Montgomery Scott LLC acquired a new position in shares of RiverNorth Opportunistic Municipal Income Fund in the fourth quarter valued at about $161,000. Arlington Capital Management Inc. grew its position in shares of RiverNorth Opportunistic Municipal Income Fund by 6.6% during the 4th quarter. Arlington Capital Management Inc. now owns 18,442 shares of the company’s stock worth $264,000 after purchasing an additional 1,141 shares in the last quarter. Noble Wealth Management PBC grew its position in shares of RiverNorth Opportunistic Municipal Income Fund by 6.8% during the 4th quarter. Noble Wealth Management PBC now owns 15,492 shares of the company’s stock worth $222,000 after purchasing an additional 992 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 176.7% during the third quarter. Bank of America Corp DE now owns 45,533 shares of the company’s stock worth $666,000 after purchasing an additional 29,076 shares during the period. Finally, UBS Group AG raised its position in shares of RiverNorth Opportunistic Municipal Income Fund by 2.8% in the third quarter. UBS Group AG now owns 161,653 shares of the company’s stock valued at $2,363,000 after buying an additional 4,472 shares in the last quarter.

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.