RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM) Stock Short Interest Declines 53.3%

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

Institutional Investors Weigh In On RiverNorth Flexible Municipal Income Fund

A number of institutional investors have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC boosted its stake 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 buying an additional 36,267 shares in the last quarter. Wedbush Securities Inc. acquired a new position in RiverNorth Flexible Municipal Income Fund during the third quarter worth $268,000. Concurrent Investment Advisors LLC raised its stake 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 in the last quarter. Royal Bank of Canada lifted its holdings in shares of RiverNorth Flexible Municipal Income Fund by 35.7% during the first quarter. Royal Bank of Canada now owns 67,484 shares of the company’s stock valued at $947,000 after acquiring an additional 17,738 shares during the period. Finally, Beacon Pointe Advisors LLC bought a new position in shares of RiverNorth Flexible Municipal Income Fund during the second quarter valued at $235,000.

RiverNorth Flexible Municipal Income Fund Price Performance

Shares of RiverNorth Flexible Municipal Income Fund stock traded up $0.01 during trading on Friday, hitting $13.46. 20,914 shares of the company’s stock traded hands, compared to its average volume of 18,541. The firm’s fifty day moving average price is $13.48 and its 200 day moving average price is $14.24. RiverNorth Flexible Municipal Income Fund has a twelve month low of $12.52 and a twelve month high of $15.03.

RiverNorth Flexible Municipal Income Fund Announces Dividend

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

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.