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 significant decline in short interest in 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 volume of 24,142 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On RiverNorth Flexible Municipal Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of RFM. Rivernorth Capital Management LLC raised its holdings in RiverNorth Flexible Municipal Income Fund by 318.5% in the 1st quarter. Rivernorth Capital Management LLC now owns 47,654 shares of the company’s stock valued at $669,000 after acquiring an additional 36,267 shares during the last quarter. Wedbush Securities Inc. purchased a new position in RiverNorth Flexible Municipal Income Fund in the 3rd quarter worth approximately $268,000. Concurrent Investment Advisors LLC lifted its stake in RiverNorth Flexible Municipal Income Fund by 44.5% in the 2nd 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 in the last quarter. Royal Bank of Canada boosted its holdings in shares of RiverNorth Flexible Municipal Income Fund by 35.7% during 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 during the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new position in shares of RiverNorth Flexible Municipal Income Fund during the 2nd quarter worth approximately $235,000.

RiverNorth Flexible Municipal Income Fund Trading Up 0.0%

RFM stock traded up $0.01 during midday trading on Friday, reaching $13.46. The stock had a trading volume of 20,914 shares, compared to its average volume of 18,541. The company’s fifty day simple moving average is $13.48 and its 200 day simple moving average is $14.24. RiverNorth Flexible Municipal Income Fund has a 52-week low of $12.52 and a 52-week high of $15.03.

RiverNorth Flexible Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be given 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.

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.