RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM) to Issue Monthly Dividend of $0.09

RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM) declared a monthly dividend on Thursday, October 1st. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.0881 per share on Thursday, December 31st. This represents a $1.06 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend is Tuesday, December 15th.

RiverNorth Flexible Municipal Income Fund has decreased its dividend by an average of 3.0%per year over the last three years.

RiverNorth Flexible Municipal Income Fund Stock Up 1.6%

Shares of NYSE RFM traded up $0.21 during mid-day trading on Friday, hitting $13.06. The company’s stock had a trading volume of 220 shares, compared to its average volume of 17,814. RiverNorth Flexible Municipal Income Fund has a one year low of $12.52 and a one year high of $15.03. The company’s fifty day simple moving average is $14.15 and its 200-day simple moving average is $14.36.

Institutional Trading of RiverNorth Flexible Municipal Income Fund

A number of large investors have recently bought and sold shares of RFM. Noble Wealth Management PBC lifted its position in shares of RiverNorth Flexible Municipal Income Fund by 11.2% in the second quarter. Noble Wealth Management PBC now owns 15,342 shares of the company’s stock worth $227,000 after purchasing an additional 1,541 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of RiverNorth Flexible Municipal Income Fund by 6.7% in the 1st quarter. NewEdge Advisors LLC now owns 34,271 shares of the company’s stock valued at $481,000 after acquiring an additional 2,147 shares during the period. Global Retirement Partners LLC bought a new stake in RiverNorth Flexible Municipal Income Fund in the second quarter valued at approximately $31,000. Compass Financial Management LLC bought a new position in RiverNorth Flexible Municipal Income Fund during the second quarter worth $82,000. Finally, Susquehanna International Group LLP acquired a new stake in RiverNorth Flexible Municipal Income Fund during the 2nd quarter worth approximately $197,000.

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.