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

RiverNorth Flexible Municipal Income Fund, Inc. (NYSEARCA:RFM)’s share price traded up 0.1% during mid-day trading on Monday . The company traded as high as $15.28 and last traded at $14.96. 49,776 shares were traded during mid-day trading, an increase of 174% from the average session volume of 18,160 shares. The stock had previously closed at $14.95.

RiverNorth Flexible Municipal Income Fund Trading Up 0.1 %

The stock has a 50 day moving average price of $15.36 and a two-hundred day moving average price of $15.65.

RiverNorth Flexible Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.094 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.13 annualized dividend and a yield of 7.54%.

Institutional Investors Weigh In On RiverNorth Flexible Municipal Income Fund

Several hedge funds have recently bought and sold shares of RFM. Wells Fargo & Company MN grew its position in shares of RiverNorth Flexible Municipal Income Fund by 13.8% in the fourth quarter. Wells Fargo & Company MN now owns 160,257 shares of the company’s stock valued at $2,383,000 after purchasing an additional 19,486 shares during the period. Wolverine Asset Management LLC increased its stake in RiverNorth Flexible Municipal Income Fund by 118.4% during the 4th quarter. Wolverine Asset Management LLC now owns 103,215 shares of the company’s stock worth $1,535,000 after buying an additional 55,952 shares in the last quarter. Logan Stone Capital LLC lifted its position in shares of RiverNorth Flexible Municipal Income Fund by 522.4% in the fourth quarter. Logan Stone Capital LLC now owns 76,483 shares of the company’s stock valued at $1,137,000 after acquiring an additional 64,195 shares in the last quarter. SteelPeak Wealth LLC boosted its stake in shares of RiverNorth Flexible Municipal Income Fund by 36.4% in the fourth quarter. SteelPeak Wealth LLC now owns 26,250 shares of the company’s stock worth $390,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of RiverNorth Flexible Municipal Income Fund in the fourth quarter valued at about $385,000.

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.