Financial Holdings Rivernorth Purchases 4,363 Shares of RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Stock

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) insider Financial Holdings Rivernorth purchased 4,363 shares of the company’s stock in a transaction on Tuesday, October 21st. The shares were purchased at an average cost of $14.35 per share, with a total value of $62,609.05. Following the purchase, the insider owned 4,363 shares of the company’s stock, valued at approximately $62,609.05. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Financial Holdings Rivernorth also recently made the following trade(s):

• On Wednesday, October 22nd, Financial Holdings Rivernorth purchased 3,352 shares of RiverNorth Flexible Municipal Income Fund stock. The shares were purchased at an average cost of $14.30 per share, with a total value of $47,933.60.

RiverNorth Flexible Municipal Income Fund Stock Down 0.3%

Shares of RFM stock opened at $14.28 on Friday. The business has a 50-day moving average price of $14.19 and a two-hundred day moving average price of $14.07. RiverNorth Flexible Municipal Income Fund, Inc. has a 12-month low of $13.14 and a 12-month high of $16.15.

RiverNorth Flexible Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a dividend of $0.094 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) annualized dividend and a yield of 7.9%.

Institutional Investors Weigh In On RiverNorth Flexible Municipal Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. SteelPeak Wealth LLC lifted its stake in shares of RiverNorth Flexible Municipal Income Fund by 6.4% in 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 during 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 about $263,000. Capital Investment Advisors LLC lifted its stake in shares of RiverNorth Flexible Municipal Income Fund by 6.8% in the 2nd quarter. Capital Investment Advisors LLC now owns 15,750 shares of the company’s stock valued at $220,000 after acquiring an additional 1,000 shares during the last quarter. NewEdge Advisors LLC lifted its stake 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, Raymond James Financial Inc. lifted its stake 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 valued at $236,000 after acquiring an additional 2,165 shares during 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.