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. Stockholders 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 dividend yield of 7.4%. The ex-dividend date of this dividend is Thursday, January 15th.

RiverNorth Flexible Municipal Income Fund Price Performance

RiverNorth Flexible Municipal Income Fund stock traded up $0.04 during mid-day trading on Tuesday, reaching $14.22. 2,116 shares of the company’s stock traded hands, compared to its average volume of 21,550. RiverNorth Flexible Municipal Income Fund has a 12-month low of $13.14 and a 12-month high of $15.79. The stock has a 50 day moving average of $14.17 and a two-hundred day moving average of $14.13.

Insider Activity at RiverNorth Flexible Municipal Income Fund

In related news, insider Financial Holdings Rivernorth purchased 4,905 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was bought at an average price of $14.06 per share, for a total transaction of $68,964.30. Following the completion of the transaction, the insider owned 37,772 shares in the company, valued at approximately $531,074.32. The trade was a 14.92% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have bought 40,647 shares of company stock valued at $580,916.

Hedge Funds Weigh In On RiverNorth Flexible Municipal Income Fund

Several hedge funds have recently bought and sold shares of RFM. Capital Investment Advisors LLC lifted its position 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 last quarter. Raymond James Financial Inc. lifted its holdings in RiverNorth Flexible Municipal Income Fund by 14.7% during the 2nd quarter. Raymond James Financial Inc. now owns 16,915 shares of the company’s stock valued at $236,000 after buying an additional 2,165 shares in the last quarter. River Street Advisors LLC bought a new position in RiverNorth Flexible Municipal Income Fund in the 2nd quarter worth about $263,000. NewEdge Advisors LLC grew its stake in 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 worth $321,000 after acquiring an additional 17,564 shares in the last quarter. Finally, SteelPeak Wealth LLC increased its position in shares of RiverNorth Flexible Municipal Income Fund by 6.4% during 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 during the period.

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.