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. Shareholders of record on Friday, February 13th will be paid a dividend of 0.0881 per share on Friday, February 27th. This represents a c) annualized dividend and a yield of 7.2%. The ex-dividend date is Friday, February 13th.

RiverNorth Flexible Municipal Income Fund Stock Down 0.2%

Shares of NYSEARCA RFM opened at $14.72 on Wednesday. The business has a fifty day moving average price of $14.21 and a two-hundred day moving average price of $14.19. RiverNorth Flexible Municipal Income Fund has a fifty-two week low of $13.14 and a fifty-two week high of $15.76.

Insider Buying and Selling at RiverNorth Flexible Municipal Income Fund

In related news, insider Financial Holdings Rivernorth bought 2,700 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was purchased at an average price of $14.05 per share, with a total value of $37,935.00. Following the completion of the acquisition, the insider owned 40,472 shares of the company’s stock, valued at $568,631.60. The trade was a 7.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders acquired 12,126 shares of company stock worth $171,814.

Hedge Funds Weigh In On RiverNorth Flexible Municipal Income Fund

Several institutional investors have recently added to or reduced their stakes in RFM. Closed End Fund Advisors Inc. purchased a new position in shares of RiverNorth Flexible Municipal Income Fund in the 4th quarter worth approximately $219,000. Wolverine Asset Management LLC bought a new stake in RiverNorth Flexible Municipal Income Fund during the fourth quarter worth $72,000. NewEdge Advisors LLC boosted its position in RiverNorth Flexible Municipal Income Fund by 52.7% in the third quarter. NewEdge Advisors LLC now owns 35,118 shares of the company’s stock worth $508,000 after purchasing an additional 12,113 shares during the last quarter. Finally, Raymond James Financial Inc. grew its stake in RiverNorth Flexible Municipal Income Fund by 30.7% in the 3rd quarter. Raymond James Financial Inc. now owns 22,112 shares of the company’s stock valued at $320,000 after purchasing an additional 5,197 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.