RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) Short Interest Down 88.6% in May

RiverNorth Opportunistic Municipal Income Fund, Inc. (NYSE:RMI) was the recipient of a large drop in short interest in the month of May. As of May 28th, there was short interest totalling 500 shares, a drop of 88.6% from the May 13th total of 4,400 shares. Based on an average trading volume of 10,700 shares, the short-interest ratio is currently 0.0 days.

A number of institutional investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. increased its stake in RiverNorth Opportunistic Municipal Income Fund by 142.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,535 shares of the company’s stock worth $33,000 after acquiring an additional 901 shares during the period. US Bancorp DE acquired a new stake in shares of RiverNorth Opportunistic Municipal Income Fund in the 1st quarter valued at $26,000. FNY Investment Advisers LLC boosted its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 131.2% in the 1st quarter. FNY Investment Advisers LLC now owns 4,569 shares of the company’s stock valued at $100,000 after purchasing an additional 2,593 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. boosted its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 8.1% in the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 38,571 shares of the company’s stock valued at $847,000 after purchasing an additional 2,878 shares in the last quarter. Finally, Cypress Wealth Services LLC boosted its holdings in shares of RiverNorth Opportunistic Municipal Income Fund by 16.5% in the 1st quarter. Cypress Wealth Services LLC now owns 30,000 shares of the company’s stock valued at $659,000 after purchasing an additional 4,250 shares in the last quarter.

RiverNorth Opportunistic Municipal Income Fund stock traded up $0.02 during mid-day trading on Friday, reaching $23.22. 14,157 shares of the company were exchanged, compared to its average volume of 12,759. The firm’s fifty day simple moving average is $22.60. RiverNorth Opportunistic Municipal Income Fund has a 12 month low of $19.99 and a 12 month high of $23.62.

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 16th will be paid a dividend of $0.0917 per share. The ex-dividend date of this dividend is Tuesday, June 15th. This represents a $1.10 dividend on an annualized basis and a yield of 4.74%.

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