RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM) Short Interest Down 62.8% in August

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

Institutional Investors Weigh In On RiverNorth Flexible Municipal Income Fund

Several hedge funds have recently made changes to their positions in RFM. Rivernorth Capital Management LLC increased its holdings in shares of RiverNorth Flexible Municipal Income Fund by 318.5% in the first quarter. Rivernorth Capital Management LLC now owns 47,654 shares of the company’s stock valued at $669,000 after purchasing an additional 36,267 shares during the period. Closed End Fund Advisors Inc. acquired a new stake in RiverNorth Flexible Municipal Income Fund in the 4th quarter valued at about $219,000. Concurrent Investment Advisors LLC increased its holdings in RiverNorth Flexible Municipal Income Fund by 44.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 64,275 shares of the company’s stock valued at $876,000 after acquiring an additional 19,800 shares in the last quarter. Susquehanna International Group LLP acquired a new position in RiverNorth Flexible Municipal Income Fund during the second quarter worth about $197,000. Finally, Beacon Pointe Advisors LLC purchased a new stake in shares of RiverNorth Flexible Municipal Income Fund in the second quarter valued at about $235,000.

RiverNorth Flexible Municipal Income Fund Stock Down 0.4%

RFM stock traded down $0.06 on Friday, hitting $13.86. The company’s stock had a trading volume of 12,935 shares, compared to its average volume of 16,573. The firm has a 50 day moving average of $14.60 and a two-hundred day moving average of $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 firm also recently disclosed a monthly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th were paid a $0.0881 dividend. The ex-dividend date was Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 7.6%.

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.