RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Stock Price Down 0.5% – Here’s Why

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) traded down 0.5% during trading on Thursday . The stock traded as low as $14.63 and last traded at $14.67. Approximately 3,368 shares were traded during trading, a decline of 81% from the average session volume of 17,944 shares. The stock had previously closed at $14.74.

RiverNorth Flexible Municipal Income Fund Stock Down 0.5%

The company’s 50 day moving average price is $14.66 and its two-hundred day moving average price is $14.45.

RiverNorth Flexible Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a $0.0881 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a yield of 7.2%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Wolverine Asset Management LLC purchased a new stake in shares of RiverNorth Flexible Municipal Income Fund in the 4th quarter worth $72,000. Rivernorth Capital Management LLC purchased a new position in RiverNorth Flexible Municipal Income Fund during the fourth quarter valued at $159,000. LPL Financial LLC purchased a new position in RiverNorth Flexible Municipal Income Fund during the fourth quarter valued at $162,000. &PARTNERS bought a new stake in RiverNorth Flexible Municipal Income Fund during the fourth quarter valued at about $214,000. Finally, Closed End Fund Advisors Inc. purchased a new stake in RiverNorth Flexible Municipal Income Fund in the fourth quarter worth about $219,000.

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.