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

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) announced a monthly dividend on Wednesday, July 1st. Shareholders of record on Friday, October 16th will be given a dividend of 0.0881 per share on Friday, October 30th. This represents a c) annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Friday, October 16th.

RiverNorth Flexible Municipal Income Fund Price Performance

NYSEARCA RFM opened at $14.81 on Thursday. RiverNorth Flexible Municipal Income Fund has a 12 month low of $13.68 and a 12 month high of $14.90. The stock’s fifty day moving average price is $14.52 and its 200-day moving average price is $14.36.

Institutional Trading of RiverNorth Flexible Municipal Income Fund

Several institutional investors have recently bought and sold shares of RFM. NewEdge Advisors LLC increased its stake in RiverNorth Flexible Municipal Income Fund by 322.8% during the 2nd quarter. NewEdge Advisors LLC now owns 23,005 shares of the company’s stock valued at $321,000 after purchasing an additional 17,564 shares in the last quarter. Raymond James Financial Inc. lifted its stake in shares of RiverNorth Flexible Municipal Income Fund by 30.7% in the third quarter. Raymond James Financial Inc. now owns 22,112 shares of the company’s stock worth $320,000 after buying an additional 5,197 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of RiverNorth Flexible Municipal Income Fund by 17.9% during the fourth quarter. Osaic Holdings Inc. now owns 15,993 shares of the company’s stock valued at $223,000 after buying an additional 2,430 shares during the last quarter. &PARTNERS purchased a new stake in shares of RiverNorth Flexible Municipal Income Fund during the fourth quarter valued at approximately $214,000. Finally, LPL Financial LLC bought a new stake in shares of RiverNorth Flexible Municipal Income Fund during the fourth quarter valued at approximately $162,000.

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.