RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM) Stock Short Interest Report for October

RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM) was the target of a large drop in short interest in October. As of October 15th, there was short interest totaling 6,543 shares, a drop of 53.3% from the September 30th total of 14,021 shares. Based on an average daily volume of 24,142 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC bought a new position in RiverNorth Flexible Municipal Income Fund in the 2nd quarter worth approximately $31,000. Compass Financial Management LLC purchased a new stake in RiverNorth Flexible Municipal Income Fund during the 2nd quarter valued at approximately $82,000. Susquehanna International Group LLP purchased a new stake in RiverNorth Flexible Municipal Income Fund during the 2nd quarter valued at approximately $197,000. Noble Wealth Management PBC grew its holdings in RiverNorth Flexible Municipal Income Fund by 11.2% during the 2nd quarter. Noble Wealth Management PBC now owns 15,342 shares of the company’s stock valued at $227,000 after buying an additional 1,541 shares in the last quarter. Finally, Beacon Pointe Advisors LLC bought a new stake in shares of RiverNorth Flexible Municipal Income Fund during the second quarter valued at approximately $235,000.

RiverNorth Flexible Municipal Income Fund Trading Up 0.0%

RFM stock traded up $0.01 on Friday, hitting $13.46. The company had a trading volume of 20,914 shares, compared to its average volume of 18,541. RiverNorth Flexible Municipal Income Fund has a 12-month low of $12.52 and a 12-month high of $15.03. The stock’s 50-day simple moving average is $13.48 and its 200 day simple moving average is $14.24.

RiverNorth Flexible Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be paid a $0.0881 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Tuesday, December 15th.

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.