RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Stock Price Down 0.4% – Here’s Why

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM)’s share price traded down 0.4% during mid-day trading on Monday . The stock traded as low as $14.02 and last traded at $14.07. 9,086 shares traded hands during trading, a decline of 64% from the average session volume of 25,412 shares. The stock had previously closed at $14.13.

RiverNorth Flexible Municipal Income Fund Stock Down 0.4%

The company has a fifty day simple moving average of $14.37 and a two-hundred day simple moving average of $14.29.

RiverNorth Flexible Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.0881 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date is Monday, June 15th.

Institutional Trading of RiverNorth Flexible Municipal Income Fund

A number of institutional investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC acquired a new stake in shares of RiverNorth Flexible Municipal Income Fund in the 4th quarter valued at about $72,000. Rivernorth Capital Management LLC acquired a new stake in RiverNorth Flexible Municipal Income Fund during the fourth quarter worth about $159,000. LPL Financial LLC acquired a new stake in RiverNorth Flexible Municipal Income Fund during the fourth quarter worth about $162,000. &PARTNERS acquired a new stake in shares of RiverNorth Flexible Municipal Income Fund in the fourth quarter valued at approximately $214,000. Finally, Closed End Fund Advisors Inc. acquired a new stake in shares of RiverNorth Flexible Municipal Income Fund in the fourth quarter valued at approximately $219,000.

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.