RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Trading 0.1% Higher – Here’s What Happened

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM)’s share price rose 0.1% during mid-day trading on Monday . The stock traded as high as $13.78 and last traded at $13.71. Approximately 30,308 shares were traded during trading, an increase of 35% from the average daily volume of 22,506 shares. The stock had previously closed at $13.70.

RiverNorth Flexible Municipal Income Fund Stock Up 0.1%

The company’s 50 day moving average price is $14.00 and its 200 day moving average price is $14.54.

RiverNorth Flexible Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.094 per share. This represents a $1.13 dividend on an annualized basis and a yield of 8.23%. The ex-dividend date of this dividend is Monday, September 15th.

Hedge Funds Weigh In On RiverNorth Flexible Municipal Income Fund

A number of large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of RiverNorth Flexible Municipal Income Fund during the 4th quarter worth $186,000. Capital Investment Advisors LLC lifted its holdings in shares of RiverNorth Flexible Municipal Income Fund by 6.8% in the second quarter. Capital Investment Advisors LLC now owns 15,750 shares of the company’s stock valued at $220,000 after purchasing an additional 1,000 shares in the last quarter. River Street Advisors LLC acquired a new stake in shares of RiverNorth Flexible Municipal Income Fund in the second quarter valued at approximately $263,000. SteelPeak Wealth LLC increased its stake in shares of RiverNorth Flexible Municipal Income Fund by 6.4% during the 2nd quarter. SteelPeak Wealth LLC now owns 29,800 shares of the company’s stock worth $416,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Logan Stone Capital LLC increased its stake in shares of RiverNorth Flexible Municipal Income Fund by 522.4% during the 4th quarter. Logan Stone Capital LLC now owns 76,483 shares of the company’s stock worth $1,137,000 after purchasing an additional 64,195 shares in the last quarter.

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.