RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM) Short Interest Update

RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 9,702 shares, a growth of 70.0% from the August 31st total of 5,706 shares. Based on an average daily volume of 16,609 shares, the days-to-cover ratio is currently 0.6 days.

RiverNorth Flexible Municipal Income Fund Stock Performance

NYSE RFM traded up $0.19 on Wednesday, reaching $12.93. The stock had a trading volume of 3,530 shares, compared to its average volume of 17,696. The firm has a fifty day moving average of $14.22 and a two-hundred day moving average of $14.38. RiverNorth Flexible Municipal Income Fund has a 1-year low of $12.52 and a 1-year high of $15.03.

Hedge Funds Weigh In On RiverNorth Flexible Municipal Income Fund

Several institutional investors and hedge funds have recently modified their holdings of RFM. Royal Bank of Canada raised its stake in RiverNorth Flexible Municipal Income Fund by 35.7% in the 1st quarter. Royal Bank of Canada now owns 67,484 shares of the company’s stock worth $947,000 after purchasing an additional 17,738 shares in the last quarter. Rivernorth Capital Management LLC increased its holdings in shares of RiverNorth Flexible Municipal Income Fund by 34.3% during the second quarter. Rivernorth Capital Management LLC now owns 63,987 shares of the company’s stock worth $946,000 after purchasing an additional 16,333 shares during the period. Concurrent Investment Advisors LLC increased its holdings in shares of 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 worth $876,000 after purchasing an additional 19,800 shares during the period. NewEdge Advisors LLC raised its position in shares of RiverNorth Flexible Municipal Income Fund by 6.7% in the first quarter. NewEdge Advisors LLC now owns 34,271 shares of the company’s stock valued at $481,000 after buying an additional 2,147 shares in the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new stake in shares of RiverNorth Flexible Municipal Income Fund in the second quarter valued at approximately $235,000.

About RiverNorth Flexible Municipal Income Fund

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.