RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM) Sees Significant Decrease in Short Interest

RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totaling 5,706 shares, a decline of 62.8% from the August 15th total of 15,339 shares. Based on an average daily volume of 12,218 shares, the short-interest ratio is currently 0.5 days.

RiverNorth Flexible Municipal Income Fund Trading Down 0.8%

Shares of RiverNorth Flexible Municipal Income Fund stock traded down $0.10 during trading on Monday, hitting $13.76. The stock had a trading volume of 24,725 shares, compared to its average volume of 16,620. RiverNorth Flexible Municipal Income Fund has a 12 month low of $13.72 and a 12 month high of $15.03. The business’s 50-day moving average is $14.58 and its 200 day moving average is $14.48.

RiverNorth Flexible Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were paid a $0.0881 dividend. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date was Wednesday, July 15th.

Institutional Trading of RiverNorth Flexible Municipal Income Fund

Several institutional investors and hedge funds have recently modified their holdings of RFM. Rivernorth Capital Management LLC grew its holdings in shares of RiverNorth Flexible Municipal Income Fund by 318.5% during the first quarter. Rivernorth Capital Management LLC now owns 47,654 shares of the company’s stock worth $669,000 after purchasing an additional 36,267 shares in the last quarter. Closed End Fund Advisors Inc. purchased a new stake in RiverNorth Flexible Municipal Income Fund in the fourth quarter valued at approximately $219,000. Compass Financial Management LLC purchased a new stake in RiverNorth Flexible Municipal Income Fund in the second quarter valued at approximately $82,000. Concurrent Investment Advisors LLC lifted its position in RiverNorth Flexible Municipal Income Fund by 44.5% during the second quarter. Concurrent Investment Advisors LLC now owns 64,275 shares of the company’s stock valued at $876,000 after purchasing an additional 19,800 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new stake in RiverNorth Flexible Municipal Income Fund during the second quarter valued at approximately $197,000.

RiverNorth Flexible Municipal Income Fund Company Profile

The RiverNorth Flexible Municipal Income Fund, Inc seeks to provide current income exempt from regular U.S. federal income taxes1 with a secondary objective of total return.