RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM – Get Free Report) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 9,702 shares, a growth of 70.0% from the August 31st total of 5,706 shares. Based on an average daily volume of 16,609 shares, the days-to-cover ratio is currently 0.6 days.
RiverNorth Flexible Municipal Income Fund Stock Performance
RFM stock traded up $0.19 during trading on Wednesday, hitting $12.93. The company had a trading volume of 3,530 shares, compared to its average volume of 17,696. RiverNorth Flexible Municipal Income Fund has a one year low of $12.52 and a one year high of $15.03. The business has a 50-day moving average of $14.22 and a 200-day moving average of $14.38.
Institutional Investors Weigh In On RiverNorth Flexible Municipal Income Fund
A number of hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in RiverNorth Flexible Municipal Income Fund by 35.7% in the first quarter. Royal Bank of Canada now owns 67,484 shares of the company’s stock valued at $947,000 after buying an additional 17,738 shares during the period. Rivernorth Capital Management LLC grew its position in shares of RiverNorth Flexible Municipal Income Fund by 34.3% during the 2nd quarter. Rivernorth Capital Management LLC now owns 63,987 shares of the company’s stock worth $946,000 after buying an additional 16,333 shares during the period. Concurrent Investment Advisors LLC grew its position in shares of 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 worth $876,000 after buying an additional 19,800 shares during the period. NewEdge Advisors LLC increased its stake in shares of 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 acquiring an additional 2,147 shares in the last quarter. Finally, Beacon Pointe Advisors LLC bought a new position in RiverNorth Flexible Municipal Income Fund during the second quarter worth $235,000.
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.
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