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

Posted by Teresa Graham on Dec 26th, 2024

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Get Free Report) was the target of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 200 shares, a decrease of 95.3% from the November 30th total of 4,300 shares. Based on an average daily trading volume, of 25,500 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Investors Weigh In On RiverNorth Opportunistic Municipal Income Fund

An institutional investor recently raised its position in RiverNorth Opportunistic Municipal Income Fund stock. Prospera Financial Services Inc raised its stake in RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI – Free Report) by 117.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,258 shares of the company’s stock after buying an additional 16,369 shares during the quarter. Prospera Financial Services Inc’s holdings in RiverNorth Opportunistic Municipal Income Fund were worth $494,000 at the end of the most recent quarter.

RiverNorth Opportunistic Municipal Income Fund Stock Performance

RMI stock remained flat at $14.89 during mid-day trading on Thursday. 52,141 shares of the company’s stock were exchanged, compared to its average volume of 19,395. The company’s fifty day moving average price is $15.82 and its 200 day moving average price is $15.97. RiverNorth Opportunistic Municipal Income Fund has a 12 month low of $14.80 and a 12 month high of $16.74.

RiverNorth Opportunistic Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.0965 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.78%. The ex-dividend date is Friday, December 13th.

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.