RiverNorth Flexible Municipal Income Fund (NYSEARCA:RFM) Shares Down 0.1% – Here’s Why

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) shares fell 0.1% on Thursday . The stock traded as low as $14.92 and last traded at $14.96. 37,554 shares traded hands during mid-day trading, an increase of 122% from the average session volume of 16,905 shares. The stock had previously closed at $14.98.

RiverNorth Flexible Municipal Income Fund Price Performance

The company’s fifty day moving average is $15.75 and its 200 day moving average is $15.94.

RiverNorth Flexible Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.0954 dividend. This represents a $1.14 annualized dividend and a dividend yield of 7.65%. The ex-dividend date of this dividend is Friday, December 13th.

Institutional Trading of RiverNorth Flexible Municipal Income Fund

A hedge fund recently bought a new stake in RiverNorth Flexible Municipal Income Fund stock. Wolverine Asset Management LLC bought a new stake in RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 47,263 shares of the company’s stock, valued at approximately $770,000.

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.