RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Stock Price Down 0.1% – Should You Sell?

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) shares traded down 0.1% during trading on Thursday . The company traded as low as $14.00 and last traded at $14.08. 13,242 shares traded hands during trading, a decline of 46% from the average session volume of 24,448 shares. The stock had previously closed at $14.10.

RiverNorth Flexible Municipal Income Fund Stock Up 0.5%

The company has a 50-day moving average price of $14.18 and a two-hundred day moving average price of $14.13.

RiverNorth Flexible Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be given a $0.0881 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a c) annualized dividend and a yield of 7.5%.

Insider Activity

In other RiverNorth Flexible Municipal Income Fund news, insider Financial Holdings Rivernorth bought 2,700 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were acquired at an average cost of $14.05 per share, with a total value of $37,935.00. Following the completion of the transaction, the insider owned 40,472 shares in the company, valued at $568,631.60. The trade was a 7.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 40,647 shares of company stock worth $580,916 in the last 90 days.

Hedge Funds Weigh In On RiverNorth Flexible Municipal Income Fund

A number of hedge funds have recently bought and sold shares of RFM. Capital Investment Advisors LLC raised its stake in 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 valued at $220,000 after buying an additional 1,000 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of 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 worth $236,000 after acquiring an additional 2,165 shares in the last quarter. River Street Advisors LLC bought a new stake in shares of RiverNorth Flexible Municipal Income Fund in the 2nd quarter valued at approximately $263,000. NewEdge Advisors LLC increased its holdings in shares of RiverNorth Flexible Municipal Income Fund by 322.8% in the 2nd quarter. NewEdge Advisors LLC now owns 23,005 shares of the company’s stock valued at $321,000 after acquiring an additional 17,564 shares during the last quarter. Finally, SteelPeak Wealth LLC raised its position 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 valued at $416,000 after acquiring an additional 1,800 shares in the last quarter.

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.