RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM) Shareholders Set to Receive $0.09 Monthly Dividend

RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM – Get Free Report) announced a monthly dividend on Thursday, October 1st. Stockholders 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 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.

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RiverNorth Flexible Municipal Income Fund Stock Up 1.6%

Shares of RFM traded up $0.21 during trading hours on Friday, reaching $13.06. The stock had a trading volume of 220 shares, compared to its average volume of 17,814. RiverNorth Flexible Municipal Income Fund has a 12 month low of $12.52 and a 12 month high of $15.03. The company’s 50-day moving average is $14.15 and its two-hundred day moving average is $14.36.

Institutional Trading of RiverNorth Flexible Municipal Income Fund

Several hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in RiverNorth Flexible Municipal Income Fund by 35.7% in the 1st quarter. Royal Bank of Canada now owns 67,484 shares of the company’s stock valued at $947,000 after acquiring an additional 17,738 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in shares of RiverNorth Flexible Municipal Income Fund by 44.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 64,275 shares of the company’s stock worth $876,000 after purchasing an additional 19,800 shares during the last quarter. Rivernorth Capital Management LLC raised its stake in shares of RiverNorth Flexible Municipal Income Fund by 34.3% during the second quarter. Rivernorth Capital Management LLC now owns 63,987 shares of the company’s stock valued at $946,000 after purchasing an additional 16,333 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of RiverNorth Flexible Municipal Income Fund by 6.7% during 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 last quarter. Finally, Beacon Pointe Advisors LLC purchased a new stake in shares of RiverNorth Flexible Municipal Income Fund in the second quarter valued at $235,000.

RiverNorth Flexible Municipal Income Fund Company Profile

(Get Free Report)

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.

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