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

RiverNorth Flexible Municipal Income Fund, Inc. (NYSE:RFM – Get Free Report) declared a monthly dividend on Thursday, October 1st. Investors of record on Tuesday, December 15th will be given 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 payment by an average of 3.0%annually over the last three years.

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RiverNorth Flexible Municipal Income Fund Price Performance

RFM stock traded up $0.15 during mid-day trading on Friday, reaching $13.12. 237 shares of the stock traded hands, compared to its average volume of 17,721. RiverNorth Flexible Municipal Income Fund has a 52-week low of $12.52 and a 52-week high of $15.03. The stock’s fifty day moving average is $14.15 and its 200-day moving average is $14.36.

Institutional Investors Weigh In On RiverNorth Flexible Municipal Income Fund

Institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new position in shares of RiverNorth Flexible Municipal Income Fund during the 2nd quarter valued at $31,000. Compass Financial Management LLC acquired a new stake in RiverNorth Flexible Municipal Income Fund during the second quarter valued at $82,000. Susquehanna International Group LLP acquired a new stake in RiverNorth Flexible Municipal Income Fund during the second quarter valued at $197,000. Closed End Fund Advisors Inc. purchased a new position in RiverNorth Flexible Municipal Income Fund in the fourth quarter valued at about $219,000. Finally, Noble Wealth Management PBC grew its stake in 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 valued at $227,000 after purchasing an additional 1,541 shares in the last quarter.

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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