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

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

Institutional Investors Weigh In On RiverNorth Flexible Municipal Income Fund

Hedge funds have recently modified their holdings of the company. Compass Financial Management LLC purchased a new stake in shares of RiverNorth Flexible Municipal Income Fund during the second quarter worth about $82,000. Concurrent Investment Advisors LLC boosted 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 worth $876,000 after acquiring an additional 19,800 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in RiverNorth Flexible Municipal Income Fund in the 2nd quarter worth approximately $197,000. Rivernorth Capital Management LLC raised its holdings in RiverNorth Flexible Municipal Income Fund by 34.3% in the 2nd quarter. Rivernorth Capital Management LLC now owns 63,987 shares of the company’s stock valued at $946,000 after acquiring an additional 16,333 shares during the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new position in shares of RiverNorth Flexible Municipal Income Fund during the 2nd quarter worth $235,000.

RiverNorth Flexible Municipal Income Fund Price Performance

NYSE:RFM traded down $0.06 during trading hours on Friday, reaching $13.86. 12,935 shares of the company traded hands, compared to its average volume of 16,573. The firm’s 50-day moving average is $14.60 and its 200-day moving average is $14.48. RiverNorth Flexible Municipal Income Fund has a 1-year low of $13.72 and a 1-year high of $15.03.

RiverNorth Flexible Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were given a dividend of $0.0881 per share. This represents a c) dividend on an annualized basis and a yield of 7.6%. The ex-dividend date was Wednesday, July 15th.

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.