RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM – Get Free Report) saw a significant growth in short interest in 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 trading volume of 16,609 shares, the short-interest ratio is presently 0.6 days.
Institutional Investors Weigh In On RiverNorth Flexible Municipal Income Fund
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Compass Financial Management LLC purchased a new stake in shares of RiverNorth Flexible Municipal Income Fund in the 2nd quarter worth approximately $82,000. Concurrent Investment Advisors LLC increased its stake in RiverNorth Flexible Municipal Income Fund by 44.5% in the second 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 during the period. Susquehanna International Group LLP purchased a new stake in shares of RiverNorth Flexible Municipal Income Fund in the 2nd quarter worth approximately $197,000. Rivernorth Capital Management LLC grew its stake in 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 last quarter. Finally, Beacon Pointe Advisors LLC purchased a new position in RiverNorth Flexible Municipal Income Fund during the 2nd quarter worth approximately $235,000.
RiverNorth Flexible Municipal Income Fund Trading Up 1.1%
NYSE:RFM traded up $0.14 during trading hours on Thursday, reaching $12.99. 16,211 shares of the company were exchanged, compared to its average volume of 17,814. The business has a 50 day moving average of $14.18 and a 200 day moving average of $14.37. RiverNorth Flexible Municipal Income Fund has a 1-year low of $12.52 and a 1-year high of $15.03.
About RiverNorth Flexible Municipal Income Fund
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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