RiverNorth Flexible Municipal Income Fund, Inc. $RFM Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC cut its stake in shares of RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) by 85.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,476 shares of the company’s stock after selling 37,513 shares during the quarter. Wolverine Asset Management LLC’s holdings in RiverNorth Flexible Municipal Income Fund were worth $90,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RFM. Capital Investment Advisors LLC lifted 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 purchasing an additional 1,000 shares during the period. River Street Advisors LLC purchased a new position in RiverNorth Flexible Municipal Income Fund in the second quarter worth $263,000. Finally, SteelPeak Wealth LLC raised its position in RiverNorth Flexible Municipal Income Fund by 6.4% in the second quarter. SteelPeak Wealth LLC now owns 29,800 shares of the company’s stock worth $416,000 after acquiring an additional 1,800 shares in the last quarter.

RiverNorth Flexible Municipal Income Fund Trading Down 0.1%

NYSEARCA:RFM opened at $14.41 on Tuesday. The stock has a fifty day moving average price of $14.26 and a two-hundred day moving average price of $14.10. RiverNorth Flexible Municipal Income Fund, Inc. has a 1 year low of $13.14 and a 1 year high of $16.15.

RiverNorth Flexible Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $0.094 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) annualized dividend and a yield of 7.8%.

Insiders Place Their Bets

In other news, insider Financial Holdings Rivernorth bought 3,216 shares of the stock in a transaction on Thursday, October 23rd. The shares were bought at an average price of $14.30 per share, with a total value of $45,988.80. Following the completion of the acquisition, the insider owned 10,931 shares of the company’s stock, valued at approximately $156,313.30. This trade represents a 41.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 12,253 shares of company stock valued at $175,442 over 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.