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

Posted by Frank Smitson on Nov 29th, 2024

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Get Free Report) saw a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 3,600 shares, a drop of 33.3% from the October 31st total of 5,400 shares. Based on an average daily volume of 18,900 shares, the short-interest ratio is currently 0.2 days.

RiverNorth Opportunistic Municipal Income Fund Stock Up 0.5 %

Shares of RMI traded up $0.08 during mid-day trading on Friday, reaching $16.04. The company had a trading volume of 20,974 shares, compared to its average volume of 17,264. RiverNorth Opportunistic Municipal Income Fund has a fifty-two week low of $15.09 and a fifty-two week high of $16.51. The firm has a fifty day simple moving average of $16.08 and a 200-day simple moving average of $16.00.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.0965 per share. The ex-dividend date is Friday, December 13th. This represents a $1.16 annualized dividend and a yield of 7.22%.

Hedge Funds Weigh In On RiverNorth Opportunistic Municipal Income Fund

An institutional investor recently raised its position in RiverNorth Opportunistic Municipal Income Fund stock. Wolverine Asset Management LLC boosted its holdings in RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Free Report) by 223.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 37,625 shares of the company’s stock after buying an additional 26,010 shares during the period. Wolverine Asset Management LLC’s holdings in RiverNorth Opportunistic Municipal Income Fund were worth $614,000 at the end of the most recent reporting period.

RiverNorth Opportunistic Municipal Income Fund Company Profile

(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.