RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM) Shares Shorted: Short Interest Down 53.3% in October

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

Hedge Funds Weigh In On RiverNorth Flexible Municipal Income Fund

Large investors have recently made changes to their positions in the stock. Noble Wealth Management PBC boosted its position in shares of 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 worth $227,000 after purchasing an additional 1,541 shares during the period. NewEdge Advisors LLC increased its holdings in RiverNorth Flexible Municipal Income Fund by 6.7% in the 1st quarter. NewEdge Advisors LLC now owns 34,271 shares of the company’s stock valued at $481,000 after purchasing an additional 2,147 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in RiverNorth Flexible Municipal Income Fund in the 2nd quarter valued at approximately $31,000. Compass Financial Management LLC purchased a new stake in RiverNorth Flexible Municipal Income Fund in the second quarter valued at approximately $82,000. Finally, Susquehanna International Group LLP purchased a new stake in RiverNorth Flexible Municipal Income Fund in the second quarter valued at approximately $197,000.

RiverNorth Flexible Municipal Income Fund Trading Up 0.0%

NYSE RFM traded up $0.01 during trading hours on Friday, reaching $13.46. The company had a trading volume of 20,914 shares, compared to its average volume of 18,541. The stock has a 50-day moving average of $13.48 and a 200 day moving average of $14.24. RiverNorth Flexible Municipal Income Fund has a 1-year low of $12.52 and a 1-year high of $15.03.

RiverNorth Flexible Municipal Income Fund Announces Dividend

The business 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 of this dividend is Tuesday, December 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.