RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) Plans $0.09 Monthly Dividend

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) announced a monthly dividend on Friday, January 2nd. Shareholders of record on Thursday, January 15th will be paid a dividend of 0.0881 per share on Friday, January 30th. This represents a c) annualized dividend and a yield of 7.4%. The ex-dividend date is Thursday, January 15th.

RiverNorth Flexible Municipal Income Fund Trading Up 0.4%

Shares of RFM stock traded up $0.05 during trading hours on Tuesday, hitting $14.23. 2,000 shares of the company’s stock were exchanged, compared to its average volume of 21,531. RiverNorth Flexible Municipal Income Fund has a fifty-two week low of $13.14 and a fifty-two week high of $15.79. The firm has a 50 day moving average of $14.17 and a two-hundred day moving average of $14.13.

Insiders Place Their Bets

In related news, insider Financial Holdings Rivernorth acquired 4,905 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were acquired at an average cost of $14.06 per share, with a total value of $68,964.30. Following the completion of the acquisition, the insider directly owned 37,772 shares in the company, valued at approximately $531,074.32. This trade represents a 14.92% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have acquired 40,647 shares of company stock worth $580,916 in the last ninety days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RFM. Capital Investment Advisors LLC grew its holdings in shares of RiverNorth Flexible Municipal Income Fund by 6.8% during the second quarter. Capital Investment Advisors LLC now owns 15,750 shares of the company’s stock worth $220,000 after buying an additional 1,000 shares in the last quarter. SteelPeak Wealth LLC grew its stake in 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 valued at $416,000 after acquiring an additional 1,800 shares in the last quarter. Raymond James Financial Inc. raised its holdings in RiverNorth Flexible Municipal Income Fund by 14.7% in the 2nd quarter. Raymond James Financial Inc. now owns 16,915 shares of the company’s stock valued at $236,000 after acquiring an additional 2,165 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of RiverNorth Flexible Municipal Income Fund by 52.7% during the 3rd quarter. NewEdge Advisors LLC now owns 35,118 shares of the company’s stock worth $508,000 after purchasing an additional 12,113 shares during the last quarter. Finally, River Street Advisors LLC acquired a new position in shares of RiverNorth Flexible Municipal Income Fund during the 2nd quarter worth approximately $263,000.

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.