RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Trading Up 0.2% – Time to Buy?

Shares of RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) traded up 0.2% during trading on Wednesday . The company traded as high as $16.15 and last traded at $16.11. 28,068 shares changed hands during trading, an increase of 74% from the average session volume of 16,139 shares. The stock had previously closed at $16.07.

RiverNorth Flexible Municipal Income Fund Stock Performance

The firm has a 50-day moving average price of $15.99 and a two-hundred day moving average price of $16.01.

RiverNorth Flexible Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.0954 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.14 annualized dividend and a yield of 7.17%.

Institutional Investors Weigh In On RiverNorth Flexible Municipal Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC purchased a new position in RiverNorth Flexible Municipal Income Fund in the 3rd quarter valued at $770,000. SteelPeak Wealth LLC purchased a new stake in shares of RiverNorth Flexible Municipal Income Fund in the third quarter valued at about $313,000. Finally, &PARTNERS increased its stake in shares of RiverNorth Flexible Municipal Income Fund by 17.8% during the second quarter. &PARTNERS now owns 16,564 shares of the company’s stock worth $268,000 after acquiring an additional 2,500 shares during the period.

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.